Practice Management ServicesSMS can offer your practice the business services you need to reduce your overhead and improve results for your practice. Our physician clients are able to focus on the clinical side of the practice and practice development issues when the routine business operations are managed by SMS’ management staff. We price these services separately to allow our clients to choose what services they need to supplement their unique and distinct business needs.
Financial and Accounting Services- Accounts Payable
- Bank account reconciliation
- General ledger maintenance with detailed reports
- Financial statements including balance sheet, income summary, statement of cash flow and monthly variance comparison reporting
- Professional expense reimbursement reporting
- Annual Earnings and Benefits Expense Summary by Physician
Human Resources- Payroll services
- Employee benefit plan administration
- Cafeteria or flexible spending plan administration
- Retirement plan administration
- Staff leasing arrangements available
Physician Credentialing- Enrollment and re-credentialing for all payers
- Establish credentialing files by physician with digital archiving
Liaison Relationships with Other Professionals- Coordinate activity with CPAs, legal counsel, risk management professionals, business valuation firms and other professionals associated with the medical practice
Contracting- Facility contracting and managed care contract management
Practice Analyses using the RBRVS Relative Values- Fee schedule review
- Economic impact studies for contract evaluation
- Revenue and expense evaluations
Compliance Audits- Fee schedule review
- Documentation audits to include reconciliation of orders, exams performed, documentation of exams, clean claims, and Explanation of Benefits for expected and acquired reimbursement
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