Services

Financial and Operational Management

Development of Business KPI's

Key Performance Indicators (KPI’s) articulate in a measurable form, the business objectives. Examples of KPIs include Patient waiting times Room utilisation Reception hours per dollar billed Drawings of profit as a ratio of billings KPI’s can be used for comparative purposes between business and business units, and for different business periods.

Regular Business reporting against KPI's

Monthly to quarterly reporting to principals on chosen KPI’s and key business financials are essential to ensure the management plans are meeting the desired objectives of the principals. Visual formats such as graphs are the best tools for such reporting as they portray large amounts of information in an easy to understand format.

Regular Business Reporting is one aspect of management which is often underutilised or left out.

Change Management

Facilitating changes in direction, policy, procedures, personnel, computerization, etc.

For example – Before a move to private billing from bulk billing is undertaken, many aspects need to be considered, planned for, and implemented prior to activating the desired final business process.

Cash Flow Management

Management and monitoring of cash flow to ensure the viability of the business, limit bank overdrafts costs and enable timely drawings and profit share to principals 

Creditors / Debitors Management

Monitor and manage outstanding accounts and expenditure to maximize cash flow. Implement procedures to minimise and ensure timely collection of outstanding accounts.

Cost Control

Monitoring and minimizing costs, without compromising provision of service. Close monitoring of all costs, including employment, computerization, rental and  medical supplies are essential to ensure profitability of the business.

Property Administration

Liaise with Lessor and body corporate organisations, co-ordination of repairs and maintenance. Liaise with sub tenants including contracts and billing. Leasing of temporary premises, modifications, expansion and relocation.

Interface with HIC, Medical service providers, accountants and legal advisors

MPM will deal with the day to day interactions and the myriad of paperwork associated with interfacing with these organizations, and provide feedback to principals to keep them fully informed of relevant issues. MPM will ensure that the practice is fully compliant with all legislation.

Interfacing with the HIC will include areas such as provider numbers, PIP registration and maintenance, registration for funding incentives and Commonwealth Immunisation Program.

Liaising with accountants and legal advisors can be managed to ensure that the practice meets all its taxation and legal obligations.

Administration of Principals meeting

Operational

MPM will facilitate, document and chair principals meetings to provide principals with advise to make informed business decisions. Identification of issues and allocation of resources for issue resolution are an essential part of MPM’s management philosophy.

Strategic

Discussions regarding the strategic direction of the company is an important aspect of these meetings to enable MPM to steer the business in the direction required by the principals. MPM will facilitate business planning as part of their role.

 
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