Why Neurologists Should Partner With A Management Services Organization
Managing a modern neurology practice is difficult and challenging. The administrative and compliance burden continues to increase and can seem overwhelming. Independent medical practices, though, can alleviate many of these challenges by working with a management service organization.
This lets a practice focus on patient care and leaves the business side in the hands of a trusted third party. TRIARQ Health is a management services organization that provides a wide array of management services to neurologists and other medical professionals. We help independent medical practices remain financially and clinically strong when large hospital systems are gobbling up practices. We help free doctors to just be doctors again in an increasingly complicated world.
TRIARQ can help your office.
Tools Offered by a Neurology Management Services Organization
Neurologists have a lot to deal with. Their patients require intensive care and highly specialized treatment. The focus should be on the patient — not the paperwork and insurance billing. The right tools can make all the difference. When working with a management services organization, a neurology practice has access to valuable services such as:
Human Resources Tools
Proper handling of staff is key to a successful medical practice. An MSO partner will handle the most time-consuming parts of the hiring process. This includes interviews, skill testing, reference checks, and much more. TRIARQ Health uses dedicated recruiting specialists to help find staff that fit the office’s needs. The MSO partner can also help with the termination process if an employee is not working out.
HIPAA and Regulatory Compliance
All digital systems and electronic records must comply with HIPAA regulations. This can be time-consuming and confusing without the right software or management team to help. Accidental disclosures and privacy breaches can impact a practice’s reputation and even lead to legal liability. This is easy to avoid, though, when working with a qualified management services organization.
EMR and IT Software
Electronic medical records systems are a requirement in today’s medical world. A neurology office needs the tools to handle e-prescription, note-taking, billing, and patient portals. The TRIARQ Health QSuite offers these features and many more to solve all your IT needs.
Payment Options and Medical Billing
A payment and billing solution boosts the financial performance of any neurologist’s office. This helps minimize the work it takes to collect from patients, work with insurance, and review financial histories. It can even review the insurance status of multiple patients and improve the scheduling process.
An MSO takes over the difficult task of electronic claim submissions and denials so the doctor can focus on treating patients instead of business concerns. The software also includes cutting-edge reporting and collecting solutions that can work with existing workflows.
Managing and Ordering Medical Supplies
Dealing with inventory requires a big capital investment in the healthcare sector. It requires strict documentation, tracking, and reporting. It can also be a costly part of the business when it is handled improperly. Shortages can impact patient care or could even result in malpractice allegations if necessary equipment is not maintained.
A dedicated MSO provides an accessible and integrated platform that generates procurement bills and sales reports. This results in better equipment reliability, improved compliance, and improved revenue. It helps a neurology practice succeed and avoid potential issues.
Help With Insurance Companies
Dealing with insurance is difficult for doctors and patients alike. Neurologists should be able to focus on patient care rather than constant billing and approval issues, so an MSO can be critical for medical credentialing and contracting with insurance companies.
Patients often refuse to go to places outside of their insurer’s network and expect the office’s help in dealing with insurance companies. TRIARQ’s medical credentialing service helps independent neurology practices with certification, collection, and attestation of relevant documents. They also help negotiate with insurance payers.
Ways a Management Services Organization Can Help a Neurology Practice
Access to great tools is only part of what a management services organization can do for a neurology practice. The right company helps with all aspects of the business side of a practice. The MSO is especially helpful when it comes to handling administrative tasks and background business needs.
At its core, a management services organization is a third-party organization that handles the miscellaneous activities of a neurology practice and its business. They can help alleviate the administrative burdens each medical practice faces.
After all, independent medical practices do not have the same resources as a large hospital to help with management and business tasks. Still, an independent medical practice can retain its unique and individual nature without struggling to get by. Instead of selling out to a hospital or private equity firm, a neurologist can stay independent but also get help with the mundane and difficult aspects of running a complicated business.
Dealing with Administrative Tasks in Neurology Care
Many companies that say they offer medical practice management don’t really provide comprehensive services. TRIARQ Health offers operation and business functions that give neurologists more time to focus on patient care. Some of the most pressing administrative tasks an MSO can help with include, but are not limited to:
- Staffing and overhead costs
- Software and IT infrastructure assistance
- Negotiation, leasing, or purchasing space from landlords
- Compliance with federal and state laws and regulatory bodies
- Handling increased competition from hospitals
- Accounting and billing software
A comprehensive MSO partner should handle everything other than actual medical care. That is left to the doctor and their medical team. The MSO’s job is to help with the financials, compliance, human resources, and the other administrative tasks that eat up a neurologist’s valuable time. This frees them up to focus on improved patient care and drive revenue for the practice.
How TRIARQ Health Can Help Your Neurology Practice
TRIARQ Health is a management services organization dedicated to helping neurologists in the challenging healthcare industry. The many tools listed above (and more) can help your practice succeed with healthcare administration in an increasingly complicated and competitive field. We help you remain independent and protect your revenue.
We admire independent medical practices and strive to support them at every step. We can help you remain financially viable and clinically strong by managing the business side of your practice. Let us put our years of experience to work for you. Contact us today.