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For Physicians

If you have to be an employee, why not own the company?

Helping Emergency Physicians get organized and acquire contracts is our specialty. Once you are up and running, we are available to handle the day-to-day details and "dirty" work. We have always understood that business should serve medicine. Now even the government has it figured out. It just stands to reason that your paycheck, your pension plan, and your life will all be better if you are the "Boss".

PSR's services for physicians are designed to help you influence the direction of your profession, give you greater control over your practice and, ultimately, maximize your career. PSR was founded to create a better means for physicians and hospitals to work together. It was our effort to reverse the trend of management company domination of the specialty of Emergency Medicine that led to the strong growth of our premier services: New Group Formation and Contract Acquisition and Practice Management Services for Independent Emergency Physician Groups. The drive to find a better way lies at the core of every aspect of our operation. Through the services listed, we are helping physicians take control of their careers and create lifestyles that meet their needs. Our business is working for Emergency Physicians, and we are anxious to go to work for you.

Physician Services - support offered both to individual physicians and established independent physician groups, including the following assistance:

GROUP FORMATION and FIRST CONTRACT ACQUISITION:

When forming a new EM group to take on your first ED contract, the list of "to do´s" is endless. Also, competition is fierce and many hospitals demand practice management tools and infrastructure beyond what most independent groups have at their disposal. PSR provides our clients a turnkey approach to practice infrastructure and competing on a level playing field with larger regional and the national "mega" groups. Services include: Practice Feasibility; Proposal Development and Presentation; Contract Development and Negotiations; Practice Design and Organization; and, Recruiting, Scheduling and Credentialing. Best of all, no up front fees and no charge for contract acquisition if PSR is hired for practice management services.

PRACTICE MANAGEMENT SERVICES FOR INDEPENDENT EMERGENCY PHYSICIAN GROUPS:

Over two thirds of PSR´s clients already had their own ED contract and many were in existence for over 20 years before hiring our organization. PSR´s generates significant financial returns on the investment in our services; typically averaging over $2.50 for every dollar spent on PSR’s services. Our resources include:

  • Group Governance Development
  • Incentive-Based Compensation
  • Practice Dashboards
  • Web Based Peer Review Tools
  • 360° Stakeholder Surveys
  • Billing and Coding Oversight
  • Accounting & Financial Reporting
  • Human Resources Management
  • Information Technology Services
  • Patient Satisfaction Calling
  • Benefit Plan Development
  • Risk and Litigation Management
  • Managed Care Contract Strategy
  • Succession Planning & Liquidity
  • Additional Contract Acquisition
  • Scheduling Optimization
  • Recruiting Physicians & Midlevels
  • Scheduling and On-Call
  • Credentialing
  • Malpractice Insurance Negotiations
  • Tax Planning
  • Saving ED Contracts in Jeopardy
  • Hospital Subsidy Negotiations
  • Strategic Planning

PSR was founded on the premise that emergency physicians should be the owner/operators of their own practices; just like the other members of the medical staff. However, managing a 24 hour per day, high volume, hospital-based practice can be daunting for many emergency physicians. PSR provides its client emergency physician groups, both new and established, a customized set of management tools and resources to manage their practice at peak operational and financial efficiency. Outsourcing non-clinical practice responsibilities to PSR's team of Emergency Medicine business experts allows group leadership to function at a much higher leadership level within their client hospital. But the bottom line is that the investment our client physician groups make in PSR typically pays financial dividends over and above the cost of our services. Please click here for PSR client testimonials.

The company’s comprehensive Accounting and Financial Support was designed to exceed the expectations of even the most demanding Practice. Included in PSR’s basic scope of Accounting and Financial services are:

  • Account Payable Services
  • Patient Refund Services
  • Banking Relationship Services
  • Cash Collection Management
  • Financial Reporting
  • Tax Planning
  • Provider Compensation & Payroll
  • Retirement Plan Development

The unique accounting and financial needs of individual practices are also accommodated.

On a monthly basis, PSR analyzes billing data and benchmarks client performance against industry performance metrics. When our analysis of a billing company’s performance uncovers opportunity for improvement, we partner with the billing company to drive a solution to the problem and maximize revenue for the practice.

PSR also offers expertise in billing and reimbursement in managed care contracting. Our nationwide understanding of the marketplace provides an ability to negotiate fair and equitable managed care agreements for our clients or supports their decision to go “non-par” with their client hospital. Additionally, PSR provides managed care contract term compliance monitoring to ensure our clients are not being paid at less than agreed upon levels.

PSR’s clients provide care to approximately three million patients annually. Information from PSR clients, patient and billing companies is stored in a HIPPA compliant manner in our proprietary data warehouse. With this vast repository of information constantly being updated, PSR’s analysis tools and our expertise makes Continual Benchmarking a reality for your practice. PSR provides your group the ability to benchmark individual provider and group practice performance against leading Emergency Physician Groups NATIONWIDE!

One of the biggest threats to the on-going viability and success of an independent practice is the group’s ability to make decisions in a timely manner and then live with them. Creating a culture of effective decision making requires an understanding of the core values of the shareholders of the practice. It also requires a commitment from ownership that acknowledges the realities of group dynamics; namely that issues facing the practice must be thoroughly examined and discussed. However, the process must not be so cumbersome as to prevent the practice from being viewed by their client hospital as an effective and valuable team member.

PSR assists its client emergency physician groups by creating a structure that identifies key issues requiring attention and then tracks the results of group deliberations. This guarantees each issue is addressed and resolved rather than being endlessly “tabled” for discussion from meeting to meeting. PSR assigns a senior level Practice Administrator for each client. The Practice Administrator meets monthly with the management team to review group performance and address key topics under discussion. PSR’s role is not that of a consultant, but rather to be an “implementer”. Our Practice Administrators help drive the necessary actions to resolve issues on the client group’s “To Do’s” list.

PSR’s role in strategic planning is to facilitate discussions concerning the group's goals the next one year, five years or ten years. Is the group’s goal to be an indispensable ally to their existing client hospital or grow in the region? Is the medical leadership in place in the group for senior group members that have plans to retire? How can physicians that are not shareholders of the group be further engaged in contributing to the success of the practice? Our commitment is to ask the tough questions and provide workable solutions for complex issues based on our nationwide experience and resources.

PSR Information Technology provides access to hardware, software and technical talent that is out of reach for most Independent Emergency Physician Groups. Custom designed for each of our client practices is a practice dashboard with metrics measured down to the individual provider level. Providing feedback to each practitioner in your practice on their performance in productivity, compliance with hospital clinical initiatives, throughput times and many other metrics provides them the vital feedback they need to optimize their performance. Among the many other services delivered to PSR clients through the IT department are:

  • Online Scheduling
  • Productivity Reporting
  • Patient Satisfaction Surveys
  • E&M Distribution Analysis
  • Web-Based Peer Review Tools
  • Chart Reconciliation
  • Website Design and Hosting
  • Cutting Edge Recruiting
  • Data Analytics
  • Scheduling Demand and Capacity Analysis

With the collective brainpower and resources of PSR and our clients, new tools are constantly being developed to meet the demands of the business and clinical practice of Emergency Medicine.

By working exclusively with Emergency Physician practices, PSR has gained a keen understanding of their unique Human Resource Management needs. PSR handles day-to-day responsibilities which include benefit management and administration, new employee orientation and maintenance of all personnel files. Additionally, we provide advanced expertise and management skills for “high-level” HR issues such as compliance with OSHA, CHS & HIPPA, group management of hiring, terminations and employee relations. PSR also provides very detailed assistance in the selection and relationship of insurance vendors (health, property, workers’ compensation, etc.)

  • Review of existing or preparation of new operating, shareholder, independent contractor and employment agreements
  • Superior mid-level provider employment arrangements
  • Managing the practice’s malpractice liability coverage
  • Coordination of practice’s malpractice liability claim defense
  • Providing input and development on the practice’s Compliance Program
  • Offering interpretations of how various health law issues impact the practice

Over 90 percent of PSR clients have migrated to compensation plans for their clinical providers that are heavily weighted on incentives. Yet each plan is fairly unique in order to identify and compensate physicians in line with the group's philosophy. The reason our client groups have migrated to incentive compensation plans is that PSR crafted compensation plans that have never yielded less than a fifteen percent improvement in the effective hourly clinical rate. The combination of an owner-operator emergency physician group and a properly designed incentive-based compensation system provides the basis for a new culture of operating efficiency, patient satisfaction and financial performance. Our role is to seamlessly integrate productivity, patient satisfaction, and other important practice metrics as identified after intensive dialogue with the client practice. Compensation plans are tested extensively prior to implementation to identify unique aspects of the client’s clinical practice that would have otherwise produced unwanted financial results for the providers. Only after all the “glitches” in the program are eliminated and feedback and education are provided to outliers in the group is the recommendation made to the practice that the compensation program should be phased in. Our experience has always demonstrated that the successful compensation plan aligns and rewards activities of emergency physicians and mid-level providers with the mission of the client practice: the operational and financial success of the hospital and most importantly, the well being and overall Emergency Department experience of the patient.

When forming a new Emergency Physician group to acquire your first ED contract, the list of “to do’s” is endless. Also, competition is fierce and many hospitals demand practice management tools and resources beyond what most independent groups have at their disposal. PSR provides newly formed emergency physician groups a turnkey approach to practice infrastructure allowing them to compete on a level playing field with larger regional and national “mega” groups. Services include: Practice Feasibility, Proposal Development and Presentation, Contract Development and Negotiations, Practice Design and Organization and Recruiting, Scheduling and Credentialing.

PSR understands that selecting the correct organization structure is essential for a group's success as different models are authorized under the laws of each state. The selection of the model that is right for your situation requires an understanding of the interests and intentions of the founding physicians regarding tax planning, pension planning flexibility, tolerance for debt and revenue distribution. PSR helps navigate the process so that the organization is ideally suited to the purposes and functions of your new practice.

There are no up front fees for PSR’s assistance in contract acquisition and no fees if you are not successful in obtaining the ED contract. If you are awarded the contact, PSR’s fees are waived if PSR is hired for practice management services./p>

Financial success of a Practice is often determined by the efficiency of the coverage matrix designed and implemented by the Practice. The larger and more diverse the patient population in a particular ED, the greater will be the potential for increased/improved efficiency. Using our proprietary computer modeling, PSR can expertly construct the coverage model (hours, shift times and length) needed to effectively accommodate patient volume based on arrival times and established patient demand, as impacted by department staffing levels, length of stay, patient acuity and percentage of beds occupied by admitted patients (“boarders”). Access to this expertise is essential to the effective and profitable operation of the contract and can be invaluable in negotiating a variety of agreements and understandings with your client hospital.

In addition to assisting with the evaluation and design of the coverage matrix, PSR supports the Practice with an array of operational services that include full-time and part-time provider recruiting, credentialing/enrollment services, malpractice services and scheduling.

The Physician Recruiter plans, coordinates, implements and directs all activities for the recruitment and hiring of emergency medicine physicians, specialty care physicians, and advanced practice providers for clients. The Recruiter advises and collaborates with our client partners in regards to physician recruitment and retention, staffing budgetary compliance, hiring strategies, search/selection committee management and physician recruitment consultation.

The Credentialing Specialist ensures that all practitioners contracted with our client partners meet all requirements necessary to obtain privileges at hospital facilities in a timely manner and meet credentialing standards for continued participation. The Credentialer also advises and collaborates with client partners to ensure that the practitioner has completed the necessary provider enrollment applications in association with the assigned billing company for the client.

The Professional Liability Specialist facilitates the malpractice insurance application for all client practitioners and also provides service in obtaining prior acts malpractice coverage. The Professional Liability Specialist also assists in the annual policy renewal process for each client group.

The Scheduling Specialist is responsible for ensuring overall service by effectively scheduling emergency department coverage as dictated by the client group. Coordinating the expressed desires of each provider and logistics of our client is the paramount goal.