Frequently Asked Questions
How Does MediCo Help?
A. We help health care providers that typically,
a) do not have access to critical executive
analyses and market data,
b) do not have the internal staff that can dedicate time to providing such strategic services, or
c) would pay a premium to obtain such services from multiple other sources, including regional “multi-specialty” consultants and other vendors.
Our administrative services are often the "best option" for smaller health care providers for improving their near term competitive ability and long term viability. This is especially true in a market strongly influenced by large insurance payors, a variety of health plan products and rate plans, new health care regulations, and strategic provider affiliations.
What Can You Do For My Practice?
A: While each practice has different needs, the following are some examples:
1. Maximize cash flow through revenue cycle analysis, contract analysis, banking tools, practice assessments, and billing system optimization;
2. Increase per patient revenue through optimal capital equipment acquisition planning;
3. Lower overhead costs while increasing efficiency through innovative consulting strategies, telecommunications solutions and purchasing power improvement;
4. Enhance regulation compliance by training staff on HIPAA privacy & security, and by development of compliance protocols for coding, HIPAA, Stark II, ERISA & Escheat regulations;
5. Measure practice performance vis-à-vis regional or national standards and recommend improvement strategies, including incentive compensation plans.
6. Guide practices through initial start up, strategic planning, affiliations, shareholder buy-in, forecasting, budgeting; and
7. Provide value added service with our low cost or free products.
Why should I choose Medico Unlimited over the nationally known consultants / CPA firms?
Most public accounting firms are talented at what they do, but they are not
our competitors. Where they excel at offering tax advice and financial
statement preparation services, we offer different services, such as
strategic planning, payor contract negotiation, practice benchmarking &
assessments, compliance and other strategic solutions - all at much lower
costs. We provide the executive tools and hands on partnering that would be
cost prohibitive if you went to a large consulting firm. Where our services
do overlap, we offer similar credentials found at many large firms, in
addition to having served in executive capacities in the healthcare field.
Our affiliates have simply chosen a more entrepreneurial career path. We
believe this makes our firm more cost effective, responsive, and adaptable
to your schedule and needs.
I already have a Business Manager, why do I need your services?
A: Ask your business manager if he/she feels overworked, legally exposed, understaffed, or simply not well informed about regulatory compliance, cash management options, financial analysis techniques, health care contracting, practice benchmarking or strategic planning. The answer will be quite clear; every practice manager desires to have an executive resource on these issues, just not at an executive price. Every practice needs to be on top of these issues in order to be successful in today’s market. MediCo Unlimited, LLC is a great solution to the problem and has even developed online training, low cost retainers, and the "HELP" program as vehicles to economically achieve your goals.
What is your fee structure?
MediCo Unlimited's services often generate more cash for its clients
(through more efficient operations, higher revenues, or lower expenses) than
they pay in fees. To accomplish that goal, we have various fee arrangements,
ranging from hourly rate structures to retainer based fees. We also have
packaged rate plans for more standard analyses (such as chart reviews, HIPAA
manuals & training, and practice assessments). Each rate structure is
tailored to your needs and expectations. Rates are up to 50% less than you
could expect at larger consulting firms, because we have a minimal overhead