Practice Manager

Position Description for: Practice Manager

Reports to: Physician Practice owners

Objective/Purpose:

Direct and coordinate practice resources and activities of the employees to meet the practice mission and income projections.

Responsibilities and Duties:

Planning

Develop a master plan, in conjunction with physicians, to guide the growth and development of the corporation in the short and long term.

Researches and isolates opportunities, develops plans for physician review and approval to market new or existing services the practice may offer.

Anticipates problems that may have a major impact on the practice and its future. Analyzes problems and develops solutions for them. Presents solutions to physicians for discussion and decision making.

Constantly monitors practice operating statistics and referral patterns to isolate trends and dramatic changes in performance to ensure the practice is maintaining its place and competitive edge in the community and the surrounding area.

Periodically reviews the reimbursement formulas of Medicare, Medicaid and commercial carriers to determine if the practice should change its approach to taking assignments.

Maintains a current knowledge of HMO’s, PPO’s, IPO’s, and other forms of private practice. Monitors the activities of other physicians and providers of patient care in the community to detect changes that may result in the formation of one or more of the above organizations.

Organization

Organizes and assigns duties to employees – pertaining to bookkeeping, collections, insurance claim filing, medical records, patient care and relations, data processing, and housekeeping.

Prepares and maintains a current procedural manual that provides details on all the jobs in the practice.Ensures that all employees have an in-depth knowledge of the job they perform. Seeks input from employees as to how jobs can be improved, combined, or eliminated.Prepares and maintains a current policy manual that provides details on the operating rules that govern the practice as well as the fringe benefits accruing to employees. Ensures employees have a thorough knowledge of all work rules and fringe benefits.

Standardizes procedures and initiates changes where necessary. Constantly reviews procedures to determine it there is a more efficient and less costly way to conduct the business of the practice without sacrificing patient care.

Human Resource Management

Interviews, tests, hires, and terminates employees as necessary. Verifies information on employment application forms.

Reviews and approves time records for employees. Establishes vacation schedules and approves all sick and emergency leaves for employees.

Prepares, maintains, and provides security for all personnel records of employees. Retains applications from applicants for employment.

Maintains a library and an understanding of the various state and federal laws that govern employment and personnel actions. Appears at hearings in which a complaint may have been lodged against the practice.

Balances profit sharing accounts. Maintains a working knowledge of the various pension and profit sharing plans the practice has in effect. Consults with investment counselors and actuary to determine the performance of the investments, and reports to the physicians on the status of the plans. Pays all pension plan contributions and insurance premiums. Inputs all pension data in the computer.

Personnel Development

Creates and maintains an on the job training program for employees to ensure they have a thorough understanding of their jobs and have be cross trained to cope with emergencies.

Schedules and conducts regular staff meetings.

Schedules and conducts performance and salary reviews for employees on a regular basis.

Establishes income distribution formulas with physicians and accountant and makes the computations that determine the income each physician will receive. Computes bonuses for physicians as appropriate.

Operational Control

Works with the practice accountant and legal counsel as required. Provides information to them as requested.

Ensures all physicians’ DEA and MD licenses are current and renewed as appropriate. Maintains current credentialing information requirements for insurance carriers. Ensures all laws and regulations pertaining to insurance and clinical equipment are adhered to, and where appropriate, current licensure is maintained.

Initiates and maintains contacts with key lending officers in financial institutions. Arranges for financing in support of practice projects.

Prepares and maintains operating, capital, and cash budgets for the practice. Prepares monthly income statement and balance sheet for physicians monthly.

Periodically reviews the entire accounting system to ensure sound internal control protocol is being observed.

Establishes and implements a protocol for ordering supplies, equipment, narcotics, etc. Ensures pre- numbered purchase orders are used when placing orders. Reviews all invoices and statements received from vendors for payment. Monitors the purchase of all medical and office supplies.

Reviews accounts receivable with insurance/collections staff. Approves all accounts to be written off.Maintains current knowledge of accounts receivable.

Finance (Fees, A/R, A/P, Insurance Reimbursement)

Maintains a current knowledge of CPT/ICD-9 codes and the potential impact they may have on the operations of the practice in the future. Ensures coding of procedures and diagnosis results in maximum reimbursement for physicians.

Reviews the fee schedule of the practice at periodic intervals. Surveys the local and regional markets to secure information about fees. Makes recommendations to the physician concerning fee increases.Computes increases.

Processes invoices received from vendors. Prepares checks for physician’s signature for payment of invoices.

Researches proposed equipment purchases. Makes presentations to the physicians as to the advantages and disadvantages of each item. Searches for lowest possible price consistent with the highest quality.

Maintains contact with collection agencies. Evaluates each one used to ensure its performance is in the best interest of the practice and the maximum dollars are received from their efforts.

Maintains and inventory of all insurance plans and policies the practice currently has in effect. Makes certain the practice is receiving the greatest coverage for the least cost. Prepares and makes recommendations to the physicians concerning additions, deletions, or cancellations of any plans or policies.

Systems

Constantly monitors the performance of the computer system to ensure it is up and operating as advertised by the vendor of the hardware and software.

Reviews computer and practice management system to determine if new or additional software and/or hardware should be purchased for use in the practice.

Facility

Works with the general contractor and designer to insure any new construction or major remodeling is done according to plan and within the stated time frame, and that the quality of the work meets the demands of the physicians.

Contracts with building maintenance companies or individuals, making provisions for maintaining the facility.

Position Requirements

Bachelor degree in business management or accounting, or equivalent five to seven years medical practice management.

Knowledge of accounting that allows for the preparation and management of an operating budget, capital budget, cash budget, income statement, and balance sheet.

Working knowledge of computer software and hardware; knowledge of personal computers and spreadsheet software is desirable. It would be an advantage if the applicant had experience working with equipment in a medical environment. (Medent Practice Management and EHR)

Verbal ability to interpret and explain practice policy and procedures to employees.

Ability to think clearly in making judgment decisions in initiating practice policy.

Tact necessary to deal effectively with patients, physicians, and employees. Be able to motivate the employees within the environment.

Authority boundaries:

All major policy decisions are made by the physicians and carried out by the practice manager.

Job Types: Full-time, Contract

Schedule:

• 10 hour shift
• 8 hour shift
• Monday to Friday

Experience:

• Practice Managers & Administrators: 1 year (Preferred)
• Management: 1 year (Preferred)

Work Location: Multiple Locations