consultant fee

[achieman]

if a consultant firm comes to your group and says: I can manage your group better, your collection better, negociate better etc. for a xx fee plus xx percentage, and has the resume to back it up. What would you consider a fair fee plus percentage? And has anyone experienced this process?

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[urge]

No idea but I'm interested in the topic.

Random number that comes to mind is 10% of a partner's salary, then 1% thereafter.

How did I do?

 

[Mman]

If they are going to come in and handle billing/collections as well as negotiations of new contracts, I'd be willing to give them a cut of whatever they gain you.

For example, over the next 2-3 years, compare your collections per unit billed to the prior 2-3 years. Give them 20-30% of whatever they get above and beyond what you used to get.

As for negotiating contracts, be careful. Are you going to authorize them to give a large private insurer a take it or leave it deal? That'd be the easiest way for them to get better rates for you, but it also leaves you vulnerable to not having a contract with that insurer.

 

[deleted126335]

if a consultant firm comes to your group and says: I can manage your group better, your collection better, negociate better etc. for a xx fee plus xx percentage, and has the resume to back it up. What would you consider a fair fee plus percentage? And has anyone experienced this process?

Exactly what services will they be providing? Billing and collections? negotiating payor contracts? Hospital contracts? payroll? pension and other benefits? compliance, HR, scheduling, secretarial?

 

[2win]

if a consultant firm comes to your group and says: I can manage your group better, your collection better, negociate better etc. for a xx fee plus xx percentage, and has the resume to back it up. What would you consider a fair fee plus percentage? And has anyone experienced this process?

I will be blunt - grace period of at least 6 months to see HOW MUCH they can bring.
After that I'll see.
No money before.
2win

 

[jwk]

AMC's are generally the anti-christ. I have NEVER heard anyone say "ABC-AMC came in here a year ago, turned it around, and gee, we wish we'd thought of it years ago because things are SOOOOOOOOOO good"