Tidewater Consulting - Top Ten Frequently Asked Questions

Business Development  •  General Practice Management  •  Human Resources Management
Financial Management  •  Billing Management  •  Marketing Questions
Specialty Management  •  Rehabilitation Acronyms


	1.	What type of facility should I be?
	2.	Do I need to be CARF accredited?
	3.	What is a Policy and Procedure manual and how do I get one?
	4.	Am I ready for a Medicare site survey?
	5.	Is the key to financial success joining a network?
	6.	Are all networks the same?
	7.	Should I spend all of my capital budget on state of the art equipment?
	8.	Do I have enough money to expand and is the timing right?
	9.	Have I identified the appropriate market into which to expand?
	10.	Who is my competition?


	1.	What is the appropriate level of administrative staffing?
	2.	Are my work expectations for my employees reasonable?
	3.	Would I solve my problems if I just hired an additional person or is that just throwing bodies at a problem and not really solving the issues?
	4.	Do I really need to verify every patient's insurance prior to treatment?
	5.	Aren't there any short cuts?
	6.	Is my fee schedule appropriate?
	7.	Am I charging too much? or too little?
	8.	What is an appropriate productivity expectation for my therapists?
	9.	Do any of my therapists need or deserve a PTA? How do I know?
	10.	Who needs to be credentialed?


	1.	Do I have an attractive benefits package?
	2.	Isn't COBRA just some kind of a snake?
	3.	How do I ensure that I am getting a good deal on health insurance?
	4.	What are incident reports and why do I need to have them?
	5.	Am I doing all that I can to limit workers compensation claims?
	6.	Am I recruiting the right types of employees?
	7.	What is the Family Medical Leave Act (FMLA) and does it apply to me?
	8.	Are my employees paid appropriately? Too much or too little?
	9.	Can I fire a bad employee and how do I do it?
	10.	Am I confident that I have a reasonable and legal employee manual?


	1.	Do I need a budget and how do I develop one?
	2.	Should I accept a capitated contract?
	3.	Do my monthly financial statements give an accurate representation of my practice's financial position?
	4.	Do I have enough cash to meet my expenses?
	5.	Is there a better way to pay and offer incentives to my therapists and office staff?
	6.	Are my managed care contracts reasonable?
	7.	Are there other reimbursement strategies that I should be pursuing?
	8.	Are all my specialty programs profitable?
	9.	Is it time to expand or perhaps even contract?
	10.	How do I develop a capitated pricing model?


	1.	Is my accounts receivable overstated on my balance sheet?
	2.	How much of my accounts receivable do I really expect to collect?
	3.	hat is my average days in accounts receivable?
	4.	What is my collection percentage?
	5.	How do I improve my collection percentage?
	6.	Should I out source my billing?
	7.	Is my billing software sufficient?
	8.	Does my staff really know what they are doing?
	9.	Do I know what procedures to bill and which ones are paid?
	10.	Are all procedures being paid at an appropriate, accurate and reasonable level?


	1.	Why am I having trouble getting patients from certain physician groups?
	2.	Do I really know where my patients are coming from?
	3.	Who should I be marketing to?
	4.	Are physicians the only people who send me patients?
	5.	Should I be developing specialty programs? Which ones?
	6.	How do I identify niche markets?
	7.	How do I develop a marketing plan?
	8.	Why would physicians refer to my practice?
	9.	What is a hook and do I have one?
	10.	Should I be giving gifts to physicians and their staff?


	1.	Who in the world knows anything about Electromyographic Studies?
	2.	Who has ever heard of Nerve Conduction Studies?
	3.	Should I pursue contracting with an assisted or independent living facility?
	4.	Would aqua therapy be beneficial to my practice?
	5.	Should I try to contract my physical therapy services to the local hospital?
	6.	How do I prepare for a JCAHO survey?
	7.	What is the IMPACC program and can it help me?
	8.	What is Back to Golf?
	9.	Are there other programs I should pursue?
	10.	Is it legal for me to provide PT services outside of my clinic?


	OPT - Outpatient Physical Therapy
	CORF - Comprehensive Outpatient Rehabilitation Facility
	CARF - Commission on the Accreditation of Rehabilitation Facilities
	HCFA - Healthcare Financing Administration
	JCAHO - Joint Commission on the Accreditation of Healthcare Organizations
	CPT - Current Procedure Terminology
	ICD - International Classifications of Diseases
	HIPAA - Health Insurance Portability Accountability Act of 1996
	HCCS - Healthcare Financing Administration Common Procedure Coding Systems
	SNF - Skilled Nursing Facility
	COBRA - Consolidated Omnibus Budget Reconciliation Act

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