Our new boutique billing model for private practices has increased collections for our clients at an average of 200%, while neighboring hospitals are barely getting by.
New York, NY (PRWEB) May 23, 2011
We at VGA Billing Services believe the current trend in healthcare that has hospitals buying up outlining clinics, surgery centers and group practices is misguided. The idea, according to visionary business theorist and Harvard Business School professor Clayton Christensen, is to fix healthcare by implementing drastic change, i.e. transferring routine care to lower cost providers, which will in turn cut costs dramatically. Many argue that this change is only possible by establishing a single decision maker, the hospital. It’s easier to implement change without too many cooks in the kitchen.
While this may sound like a great idea, it effectively eliminates the Physician Entrepreneur. Without control of their businesses, doctors are working longer hours, making less money, and are contractually forbidden to quit and practice in the same area. If a group practice doesn’t want to sell, the hospital simply stops referring patients to them.
The real culprit isn't overpaid procedures or physicians, but rather the competency and efficiency of a provider's billing or financial department. Our new boutique billing model for private practices has increased collections for our clients at an average of 200%, while neighboring hospitals are barely getting by. An October 2010 article in New York Magazine entitled, St. Vincent’s Is the Lehman Brothers of Hospitals, states that, “Even the largest and most prestigious institutions—New York–Presbyterian, Mount Sinai, and the like—get by with thin margins and significant piles of debt. Some presumed high-quality hospitals, like Beth Israel and Roosevelt, operated by the Continuum Health Partners consortium, have a legacy of steep losses and indebtedness, and are considered precarious.”
VGA Billing Services is a boutique medical billing service located in New York City that specializes in Orthopedic and ENT surgeons in private practice. Our time tested model of comprehensive healthcare administration and billing has allowed our clients to thrive in an uncertain climate. Our team of professional business men and women are dedicated to helping surgeons in private practice lead the healthcare industry in efficiency and success. Contact us at 212-206-6465 or info(at)vgabilling(dot)com for a consultation. Or visit our website HERE for more information.