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What is a practice management consultant?

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There are a variety of educational degrees related to medical administration and business that a consultant may have, including a Master’s of Business Administration (MBA), a law degree or a degree in the healthcare profession, such as a MD. Other types of certifications include Certified Healthcare Business Consultant (CHBC), Certified Financial Planner (CFP) and Certified Public Accountant (cpas/what-is-a-cpa.php">CPA). The consultant will need to be aware of government polices, issues related to the insurance industry as well as clear understanding of the service and patient care aspect of the medical industry. Unfortunately there can be questionable business dealings in practice management consulting, such as a “consulting firm” that is really just trying to sell you a certain product or service from a healthcare-related business. Some government watch-dog agencies have even found healthcare consulting firms encouraging clients to over-extend the limits and standards of medical coding in order to increase revenue. Other illegal and unethical practices include making it difficult for customers of low-paying providers to receive appointments, ordering unnecessary tests and procedures and not reporting overpayment by insurance companies. In light of this, it is important to get a reputable company. As previously mentioned, the National Association of Healthcare Consultants and the American Association of Healthcare Consultants can be helpful in finding a good consultant. Asking for references is always a good idea as well as finding out an estimated cost before the consulting work is initiated.

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