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Start-ups

 

Start-ups are always daunting. Am I investing correctly? Will I have enough money to succeed? Do I have enough knowledge to assure long-term viability?

 

The truth is, even the experts with 20+ years of business experience have doubts. The difference between those who make it, and those who don't, is whether or not you are a risktaker. There is never 100% assurance, that a business will be successful; however, if you go into your project with determination, flexibility, a good plan, and the right amount of money, then you have a higher chance of being successful. But, at the end of the day, it is always a gamble. And even the high rollers, have lost won and lost.

 

The health care industry has been a stable one. During the crash of our economy, health care businesses were successful. For instance, when the real estate market and construction industry crashed, health care businesses throughout the U.S. flourished. 

 

What health care business can we help you establish?

 

  • Health Care Clinic

  • Dialysis Center

  • Home Health Agency

  • Pharmacy (compounding and non-compounding)

  • Adult Day Care

  • Assisted Living Facility

  • Comprehensive Outpatient Rehab Facility (CORF)

  • Outpatient Rehab Facility (ORF)

  • Durable Medical Equipment (DME)

  • Nurse Registry

  • Non-Medical Home Care Agency

  • Therapy-Only Home Health Agency

  • Mental Health Clinic

  • Urgent Care Clinic

 

And many more.... If what you wish to establish is not listed, please contact us to find out if we can help.

 

What do we provide for you?

 

  • Local licensing process

  • Entity Filing

  • Tax ID

  • State Licensing process

  • Certification process

  • Accreditation process (if applicable or requested by client)

  • Insurance Enrollment

  • Set of Policies and Procedures manuals

  • Operational set-up of facility

  • Operational Forms

  • Marketing plan

  • Business plan

  • Medical Billing and Reimbursement set-up

What we can do for you:

Existing Businesses

 

The reason we are so successful with our Start-up clients, is because we know the ins and outs of the daily operations of each provider type we work with. We have experience, dedication, and knowledge to work with all provider types listed in the Start-up section although our approach to the existing practices is different.

 

How does the process take place?

 

We come into your business and watch quietly the existing operational system.. i.e. staff development, current resources, business mechanisms, we interview key organizational leaders, and collect different business data such as finances and referral sources. We take the information and assess it accordingly and draw a plan for the improvement that is required. We call that "a plan of action" designed to revitalize your current operation. Remember this, there is always room for improvement. And revitalization where it counts will give your business long-term viability.

 

No matter how perfect you believe your operation is, it is never perfect in the eyes of CMS, or insurance companies that ultimately pay you. And all you need is a patient complaint, or for CMS or the state, or an insurance company you bill to, pay you a visit and determine you owe them money back.

 

RAC Reviews:

 

RAC (Recovery Audit Contractor) reviews are a perfect example of the aforementioned. They happen on a daily basis and no health care practice is exempt from having RAC reviews. The goal of such reviews is to see where there was over-utilization of services that result in overpayments to your company. We should be called in at the first receipt of a RAC review letter as we can review your medical records prior to sending them and increase your chances of not receiving overpayment letters later, which are usually received shortly after the RAC letter.

 

How can we help your existing operation?

 

We know everything your business needs to run smoothly. HCBA will get you through the following:

 

  • RAC reviews

  • Overpayment Appeals

  • Re-determination and re-consideration appeals

  • Efficient billing practices

  • Review of medical records to ensure compliance with payer sources

  • Adequate staffing

  • Review of policies and procedures to determine efficiency

  • Over-utilization of services

  • Human Resources documentation reviews

  • Staff performance of patient care

  • Operational forms and facility set-up

  • Data collecting and performance improvement activities

  • State and Federal rule compliance

  • Accreditation and Re-accreditation (TJC, CHAP, ACHC, HQAA, BOC, and many more)

Sales/Mergers/Acquisitions

 

HCBA works day in and day out with industry key players that are always looking to buy a health care business or sell their health care business.

 

We come in and assess your business and assist in the process of establishing a market competitive price if you're attempting to sell. And if you wish to buy, we do a complete assessment of the business you are looking to buy.

 

We assess the following:

 

  • Profit/Loss

  • Tax/Accounting compliance

  • Billing practices

  • Licensing/Certification compliance

  • Billing privileges and insurance contracts in good standing

  • ADRs/Overpayments pending

 

It is imperative that before purchasing an existing business, you have assessed all aspects of that organization. Afterall, after you invest in that business, very rarely you will see your money back if things go sour. Our experience includes seeing business purchases going sour a month after closing and 9 times out of 10, the buyer loses. 

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