Examples of Services

Following are examples of the physician practice management services that Cadence can offer and which Mr. Anderson has provided during his career on numerous occasions:

Analysis and advice on strategic planning issues (i.e., new service lines, covering additional facilities, managed care strategy, hospital relationship strategy, referring physician relationship strategy, etc.) and participation in the execution of strategic plans to reach desired goals.
Benefit plan design for the entire practice with the goal of maximizing benefits for owners and key employees while minimizing the overall cost of such benefits. Some examples of the types of benefits where this analysis takes place are 1) qualified retirement plan (defined benefit and/or defined contribution), 2) group/individual health insurance plans (including high-deductible/HSA plans), 3) group disability insurance, 4) group long-term care insurance, 5) health reimbursement arrangements (HRA), 6) Cafeteria/Section 125 plans.
Advise on corporate document structure and oversee updating and maintenance of such documents. Assist practices in complying with provisions contained in their corporate documents.
Advise on appropriate and effective group governance structures.
Managing all books of account and maintaining the general ledger for the practice.
Customized financial reporting, including reports for profitability by service line and profitability by location.
Full reviews/audits of a practice’s financial “health” to identify areas of weakness and suggest possible solutions.
Compensation system design and implementation. Processing of payroll and payroll tax deposits.
Coordinating expansion of the practice. Including feasibility analyses for new locations being considered and negotiation of the professional services agreements with such locations.
Facility (new and existing) professional services agreement review, comment, and negotiation.
Vendor selection, contract review and negotiation.
Physician productivity analysis. Assist group in developing mechanism, perform productivity tracking per group guidelines, and analyze results (against internal and external benchmarks).
Corporate/partnership tax planning.
Facilitate group meetings. Can include management of agenda, creation of meeting packet, recording and distributing of meeting minutes.
Joint venture feasibility and possible structures analysis.
Facilitate transactions with practice’s professional advisors such as attorney, CPA, insurance agent and third-party administrator.
Assist in physician recruitment by helping practice determine appropriate compensation package (i.e., salary and benefits) and by explaining the financial details of the package to the physician being recruited.
Physician practice formations and mergers.
Inform practice on pertinent changes in law and national trends, such as effects of Accountable Care Organizations (ACO’s) and Meaningful Use/EHR.
Identify available potential cost savings for group to consider.
Identify situations where a stipend may be needed from a facility in order to allow physician compensation for work performed at such facility to meet national averages. Quantify any shortfall and present a business case to the facility requesting a stipend.
Assist practice in human resource (HR) activities. Such as assisting in benefit enrollment processes, liaison with non-physician providers, assisting with related decisions and drafting of employee policy and procedures (i.e., discipline, PTO).
Advise on optimal buy-in & buy-out methodologies. Perform calculations upon owner entry and departure.
Analyze and coordinate the purchase of equipment for the practice.
Analyze and coordinate the re-financing of practice debt.
Maintain a professional “business person to business person” relationship with facilities covered by practice.
Benchmarking practice against itself and national/regional numbers for compensation, productivity, etc.
Implementation and execution of physician group corporate compliance plan.