TTG Healthcare Advisors: Making ASCs and Physician- Owned Facilities Profitable
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Wendy Bruno Thomson, Founder & CEO
Do you think running physician-owned practices allow one to focus solely on patient care? The answer is simple: they can’t—at least not while focusing on maximizing their medical practice’s profitability. Like any other business, a multitude of tasks needs to be carried out for the smooth functioning of healthcare facilities—from practice management, strategic planning, regulatory program compliance and training to insurance contract negotiation, and most importantly, revenue cycle management. However, handling financial issues and charting out the path to financial success can become a daunting task, especially for medical practitioners. As many practitioners tire of the demands of administering a medical practice while treating patients, Arizona-based TTG Healthcare Advisors advocates for independence by providing scalable and reliable solutions.
“As physicians are already pulled in multiple directions, our team of operational, financial, and healthcare experts manage the complicated processes involved in running medical facilities, which allows our clients to concentrate on treating patients,” says Wendy Bruno Thomson, founder and CEO of TTG Healthcare Advisors. A licensed healthcare auditor herself, Wendy, with her proven history of performing detailed and complicated financial analysis and auditing, is committed to increasing profits for healthcare providers and facilities. She and her educated and committed team at TTG monitor the journey of physician-owned healthcare facilities and ambulatory service centers, identify reasons for loss of revenue, and guide them into revenue recovery. “Within six months of working with us, our clients observe an average of 35 percent increase in their profitability. They are finally collecting the income they are generating,” extols Wendy.
Since its inception in 2009, TTG has focused relentlessly on the empowerment of physicians by providing them strategic and operational insights required to remain independent, improve profits, and grow their practices.
The company has created a comprehensive menu of cost-effective services ranging from ASC or practice start ups, strategic initiatives for expansions or mergers. TTG offers governance and auditing support to aid clients in keeping up with changing technological requirements and attaining financial success. From healthcare consulting and financial auditing to executing strong insurance credentialing and contract negotiation, TTG covers it all, making life easier for the physicians by ensuring reliable income and providing a safety net. With a clear understanding of the possible causes of loss of revenue in medical facilities and practices, TTG advocates for an increase in insurance contractual income and partners with insurance carriers to reduce red tape requirements. TTG safeguards client information by training the staff at medical facilities to comply with HIPAA, OSHA, insurance regulations, and other essential governance training requirements.
A typical client onboarding process at TTG begins with analysis of revenue cycle management to identify possible reasons for loss of revenue before putting together an action plan of recommendations to reduce financial loss and increase profitability. TTG understands the nuances of medical practices and surgery centers and finds the right combination of physicians and owners to make the venture viable, setting up a sustainable structure for medical practitioners and their patients.
While going through reporting for a new client, TTG’s team recognized that they were incurring losses due to the improper billing of certain codes as covered services. Consequently, the client had been paying for patient products without appropriate reimbursement. TTG worked with the client to improve their coding and revenue cycle management and prevent further losses. The company’s on-site workflow analysis also reduced its headcount and increased efficiency. The new methods for scheduling patients also served to increase momentum and productivity. The client’s additional expenses from different vendor contract negotiations and staffing changes reduced drastically. “Under our guidance, the client observed a 35 percent increase in his annual profit,” informs Wendy. While TTG continues to enable the independence of physician-owned practices, it is active in ASC management and revenue cycle management audits.