John Reidelbach’s career in health care spans more than 20 years and all facets of administration within physician practices, hospitals and large health care insurers. He founded Physician Advocates Inc. in 1996. Today, he assists health care entities in all aspects of practice management, operation, strategic development and implementation, education, contract negotiations, data analysis and capital funding. His credentials include degrees in engineering and education, and a master’s in business administration. Mr. Reidelbach has designed several health care management entities, including independent physician associations, physician practice management companies, management service organizations and group practices. His experience includes developing equity ownership structures, financial incentives, network administration, and information systems selection and implementation. He also has developed detailed analysis tools for health care providers and product vendors. Mr. Reidelbach can be reached in North Carolina at (919) 321-1656 or in Atlanta at (404) 664-9060; and by e-mail to info@mdpracticeadvice.com.
would not be applicable, as typically commissions are paid on a practice sale. 8. W hat is the fee structure of the consulting firm? It is advantageous for the practice to determine whether it is an hourly, project based or retainer. Another question to ask is whether or not the rates are fixed for the project or timeframe of the engagement. 9. P rior to engagement, have the consulting firm provide a list of measurable deliverables for the tasks. These should be specified in an addendum to the
agreement, as well as the frequency of the deliverables. Not all medical practices have a need for consultants. However, if your practice is experiencing operational, strategic-growth and analytical issues, a consulting firm may be the answer. The benefit of a consulting firm is experience. Those who have it are the ones that work with many different practices, are exposed to an array of issues and resolve similar problems every day.
and references to verify the abilities, experience, and certainty of the firm and the consultants. 5. During the initial meeting, the practice must be honest and specific in identifying the issues surrounding the project. This helps the consultant identify the approach and method to be used to correct the issues/challenges, as well as understand the amount of time and effort it will take to accomplish the task. 6. After the initial meeting, the practice must ask if this is a person or firm is one they can work with over a period of time. 7. Prior to retaining a consultant, the practice should ask if the firm receives any compensation, via commissions or finder’s fees, from outside vendors the practice works with or may work with. This can sometimes cause a conflict of interest when selecting vendors for various issues within the practice. For practices that are retaining a firm for the purpose of selling the practice, this Womens Wellness half vertical.indd 1
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