About
Our Mission
Insight Management is a comprehensive Healthcare Management and Advisory Services Consulting firm, which has represented healthcare organizations, for over 25 years to develop creative strategies to solve complex problems, improve operating performance, maximize value and increase patient satisfaction.
Our team has a hands-on approach to maximize cash flow and diversify revenue streams for its clients, both in the proprietary and not-for-profit sectors. Insight Management applies its results oriented revenue enhancement and cost management capabilities across various healthcare sectors, with expertise and commitment to our healthcare clients.
The Insight Management team are seasoned Healthcare Executives with expertise in the following areas:
Entrepreneurial
Financial
Clinical
Revenue Cycle Management
Management Operations
Performance Improvement
Our Accomplishments
Faculty Practices
- Recruited physician and ancillary service personnel to operate a new fertility and reproduction medical practice
- Replacement candidates reviewed and final selection completed within two months following effective date of predecessor’s resignation. Replacement candidate was accomplished in IVF procedures providing an additional revenue stream of $250,000 for the first eight months
- Implemented improved collection protocols resulting in payments of $87,000 greater than projected
- Implemented internal controls according to general accounting principals which improved employee accuracy and eliminated the chance of employee theft.
- Promoted practice through free seminars where 70% of participants became patients of practice
- Arranged for appropriate advertising resulting in increased referrals per month.
- Increased patient volume 60% due to the expansion of scope of services/ procedures provided and establishment of a new satellite office. Accordingly, revenues increased 39%
- Restructured laboratory methodology requiring less intensive supervision, per regulatory agencies and reducing laboratory consultant fees by 50%
- Developed and implemented personnel policies pertaining to payroll which eliminated overtime payments for salaried personnel
- Developed operating and capital budgets and fiscal reports which assisted management in analyzing the practice
- Capitalized renovations necessary to implement IVF and negotiated leases to minimize first year costs
- Recruited laboratory consultant to secure state laboratory certification allowing practice to bill for laboratory procedures, previously not captured.
Pulmonary Medicine
- Reduction of operating expenses in excess of $750, 000.00 for a Pulmonary Medicine group.
- Re-negotiated contract in Respiratory Therapy resulting in savings of $60,000
- Collected 50% of accounts that had been previously denied due to billing errors
- Prepared managed care training manuals for billing staff and reduced delays in reimbursement due to unauthorized procedures
- Designed systems for employees to monitor patient utilization through advertising which resuled in savings in excess of $125,000 with no reduction in patient visits
- Initiated program to market services to managed care companies and established center of excellence
- Expanded the services of a Sleep Disorders Center resulting in $175,000 of additional revenues
Primary Care Practices
- Increased collection rate by an additional 24% by changing front desk protocols
- Expanded practice revenues an additional $750,000.00 by introducing new ancillary services
- Developed, implemented and updated super bills and educated professionals as to its purpose resulting in increased revenues per year, otherwise not captured
- Worked with physicians to establish brochures and new programs to market and attract new private practice patients.
- Designed, equipped, staffed and managed a primary care and multi-specialty practice.
- Restructure staff lost to attrition resulting in savings in salaries/benefits per year
- Developed operating and capital budgets and fiscal reports for multiple primary care practices thereby assisting physicians in analyzing practice patterns and enabling them to monitor their practices more carefully
- Developed a compensation, productivity and incentive program for physicians
- Collected personal debt (self pay) accounts by implementing payment plans and follow-up protocols
- Researched health insurance options for small group employees and arranged coverage for eligible employees
- Advertising campaign to managed care companies enabled newly established practice to enroll with numerous carriers
- Designed exterior signage, which provided for 50% increase in “walk in” visits
- Prepared educational material and trained all professional and clerical staff about evaluation and management coding providing for a smooth transition and no disruption in payments from payers
Occupational Health
- Collected $176,000 out of $230,000 in aged industrial accounts
- Implemented a marketing program to industry including brochures and newsletters resulting in 70 new industrial clients
- New business was captured through marketing practice to industrial firms. This established a new revenue stream which generated in excess of $150,000 annually
- Increased the number of fee-for-service visits from 9,000 to 10,800 due to increase in industrial clients
- Developed budgets for client swhich did not exist previously
- Tracking of referrals from advertising via practice analysis allowed for reductions in monies expensed for non-productive promotions resulting in significant savings.
- Expanded industrial services to include health promotion activities to corporate clients.
- Designed, equipped, staffed and managed a Physical Therapy, Occupational Therapy and Work Hardening Center
Fertility Center
- Recruited physician and ancillary service personnel to operate a new fertility and reproduction medical practice
- Replacement candidates reviewed and final selection completed within two months following effective date of predecessor’s resignation. Replacement candidate was accomplished in IVF procedures providing an additional revenue stream of $250,000 for the first eight months
- Implemented improved collection protocols resulting in payments of $87,000 greater than projected
- Implemented internal controls according to general accounting principals which improved employee accuracy and eliminated the chance of employee theft.
- Promoted practice through free seminars where 70% of participants became patients of practice
- Arranged for appropriate advertising resulting in increased referrals per month.
- Increased patient volume 60% due to the expansion of scope of services/ procedures provided and establishment of a new satellite office. Accordingly, revenues increased 39%
- Restructured laboratory methodology requiring less intensive supervision, per regulatory agencies and reducing laboratory consultant fees by 50%
- Developed and implemented personnel policies pertaining to payroll which eliminated overtime payments for salaried personnel
- Developed operating and capital budgets and fiscal reports which assisted management in analyzing the practice
- Capitalized renovations necessary to implement IVF and negotiated leases to minimize first year costs
- Recruited laboratory consultant to secure state laboratory certification allowing practice to bill for laboratory procedures, previously not captured
Radiology
- Reduced contract terms an additional 26% on $1 million by bundling purchases with another practice
- Negotiated lower finance terms for CT scanner significantly reducing expenses
- Re-negotiated an additional CT scanner for a group at minimal cost
- Negotiated an additional $700,000 in savings on MRI equipment after physicians completed their negotiations
- Reduced operating expenses by refinancing a lease resulting in$462,000 savings as well as introducing new and upgraded equipment
- Increased volume of activity by 40% after one year by introducing new management and converting entity from a non-profit to a for-profit status
- Negotiated “corporate funding”, for marketing of MRI services.
Radiation Therapy Center
- Reduced price of physician requested equipment by 20% through negotiations for a savings of $305,000
- Increased profits of center from $680,000 to $1.3 million in by upgrading equipment, hiring an additional technician and expansion of services to community hospitals
- Expanded services to smaller hospitals resulting in additional revenues exceeding $125,000 during the first year
- Negotiated corporate funding for marketing of Radiation Therapy services
- Increased revenues by $500,000 by arranging transportation
Nuclear Medicine
- Negotiated $330,000 in savings for capital equipment after physicians completed their negotiations.
- Reduced staffing with no adverse impact on services and quality of care
- Restructured job descriptions resulting in a documented 26% increase in productivity and creating additional revenues of $150,000 per year to the practice.
Ambulatory Surgery
- Developed front desk policy for collection procedures resulting in increased profits of $22,000 per month.
- Increased ambulatory utilization resulting in $612,000 additional revenue per annum.