Areas of Practice
Lombard HC is dedicated to providing thoughtful and impactful business solutions to meet a variety of client challenges.
Proven Successes
Optimizing physician practice finances (compensation and incentive plans, salary benchmarking, P&L and wRVU productivity)
Creating operational dashboards
Strategic Planning (1-2-3 year analyses) and implementation plans
Enhancing complex institutional funds flow methodologies, budget justifications and negotiation strategies
Improving clinical operations and staff workflow (ambulatory and inpatient) environments
Identifying, developing and implementing new clinical programs (internal and external initiatives) and contract negotiations
Managing research program operations (pre and post award), accounts payable, regulatory, compliance, indirect cost analysis on research space
Engaging and developing human capital to support the organizational mission(s)
Establishing patient advisory boards and donor relations’ campaigns: IRS accounting rules, stewardship reporting and general ledger accounts management
Revenue cycle reviews: evaluation and management (E&M) coding and billing, audit and compliance, data mining/report generation, coding and billing staff management, E&M outsourcing reviews, A/R management and EHR template development
Facility planning analyses: clinical and administrative space
Physician and physician extender strategy development: recruitment package generation, retention, credentialing and locum tenens
revenue cycle optimization
Dashboards, key performance indicators, and understanding your organization’s current financial state are critical to maintaining a viable clinical practice in today’s shift from fee-for-service to fee-for-value-based care. Your revenue cycle must be nimble enough to adjust. Completing an in-depth analysis is imperative for a practice. Reviewing your EHR templates, dot phrases, physician and extender documentation, CPT code distribution, denials by payor, days in A/R, days of cash on hand, and payer contracts are actions to take to improve the success of your organization.
new clinical program development
The one constant in health care is change. With the frequency of hospital mergers and acquisitions, you must be continually assessing your practice’s viability in the market. Strategic decisions on how, when, and where to expand the practice and grow your revenue base are critical and requires awareness of your referral patterns, competitors, ability to act, and how you differentiate yourself from competitors. Program development may be the key to the success of your organization.
physician practice management
With the move from fee-for-service to fee-for-value-based payment, your practice needs to identify the right provider incentives. Reviewing true physician costs, compensation and incentive plans, national benchmarking of salary, and the establishment of provider-level P&Ls and annual wRVU targets are all critical components. The success of incentive plans is developing the right metrics and performance dashboards that are shared with the appropriate personnel on a regular basis to move the needle.
employee engagement
Never before have we been in a job market like the one at present. Historically low unemployment with a combination of baby boomers, Generations X, Y, millennials, and now Zs all part of your team. Group dynamics, morale, team building, diversity, and training are critical components to recruiting, retaining, developing, and challenging your employees so they maximize their performance. While employee engagement might seem secondary to the work, it will increase productivity and contribute to the overall success of your organization.
clinical operations
Providing care that is of the highest quality, safety, and efficiency in a compassionate manner is predicated upon the strength of a highly functional and effective clinical leadership team. Optimizing an organization’s operations requires a team of physicians, nurses, other clinical staff, and administrative support staff all working together to solve the challenging problems facing the practice. Regardless of the size of your practice, maximizing patient flow and throughput, room utilization, patient satisfaction, scheduling, and clinic staffing will improve the success of your organization.
Grants management
Advancing the research mission of your organization is a key component of the tri and quadripartite missions of any institution. At the same time the myriad of rules and regulations it requires to conduct both bench and clinical research continues to grow more complex and labor intensive requiring huge amounts of your organization’s limited resources. The development of a seasoned grants management team handling pre- and post-award finance, the master chart of accounts, accounts payable, conducting routine audits, ensuring timely and accurate faculty effort reporting, salary support, space, and subject payments are just some of the critical components to running a successful research program for your research faculty.