...MARKETING PLAN FOR ABIGAIL’S MEDICAL BILLING AND CODING Abigail’s Medical Billing and Coding Services, LLC is an accurate, timely and affordabl Here are the major elements of a marketing plan: Executive Summary: The Executive Summary should be a brief summary of the entire marketing plan and include the highlights of each section to be included in your marketing plan. It should also include your Business's Mission (or Vision) Statement. Start with your Mission Statement and use this as a foundation for the rest of marketing plan. Next, work on the rest of the plan, skipping the remainder of this section until the rest of the marketing plan is complete. Your Mission Statement should be a simple paragraph describing your company's values as well as what your company does and who it is. After the rest of the marketing plan is complete, come back and finish the Executive Summary. Product Description: The product description is the detailed description of the products and/or services that you intend to market. Anywhere in length from a few paragraphs to a few pages, use this as an opportunity to communicate your ideas regarding exactly what your product is and how your customers will use it. Market Analysis: The Market Analysis is drawn from in-house or third party Marketing Research and includes: * A description of the target market * Distribution channels with any applicable laws or regulations * The unique positioning of the company and its products...
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...------------------------------------------------- Page Title 3 Executive summary 4 Industry Analysis 5 Mission Statement 6 Growth Plans/Goals 8 Benefits of the Business 9 Business Models 10 Services 11 Market 13 Competitors and website evaluation 15 Operations 16 Operation Plan 17 Financial Statements 20 Appendices Executive Summary The U.S. Government has emphasized EMR (electronic medical records) and ECS (electronic claims system) as an answer to reducing the costs attached to patient care. In addition, electronic systems help in expediting reimbursement of insurance claims. Yet, it is still difficult to perform this task. Currently more than 60 percent of all medical claims in the U.S. are mailed. Submission of paper claims dates back in the U.S. to the early 1950’s. One of the primary reasons for not implementing a new system is the cost of new EMR and ECS systems. In 1990, the federal government mandated that physicians start submitting their claims electronically. This standard only applies to large practitioners and “small” providers can request a waiver from submitting claims electronically. This waiver was established when the government recognized the financial burden new electronic systems could have on small providers. Small providers, however, are losing money due to the inability to access current technology. Mount Brighton is an affordable medical management company that can perform the electronic claims processing for both small and big providers. ...
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...11-11 Develop a “Statement of Marketing Objectives” for your company. Justify those marketing objectives by explaining how they contribute to the overall business mission of the company. The objectives for my mission concerning my company is to form values and time utility to my customers' by providing benefits to families for insurance coverage, and in the medical billing & coding industry it is to develop quick and accurate payment processing of claims. The goal is to provide both customer goods that will be tangible for my customers’ concerning their life and health. The political-legal environment is the regulation and laws that are governed by the state. It has social value that will free and promote new products for a client who thinks...
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...Emergency Care Group Marketing Plan April 1, 2009 TABLE OF CONTENTS 1.0 EXECUTIVE SUMMARY 3 2.0 SITUATION ANALYSIS 3 3.0 MARKET ANALYSIS 4 3.1 Market Demographics 4 3.2 Market Trends 4 3.3 Market Growth 4 4.0 COMPETITIVE ANALYSIS 4 5.0 FINANCIAL OVERVIEW 4 6.0 MARKETING PLAN 6 6.1 Marketing Objectives 6 6.2 Marketing Strategy 6 6.3 Action Plan 6 6.3.1 Products and Services 7 6.3.2 Pricing 7 6.3.3 Advertising and Promotion 7 6.3.4 Distribution 7 7.0 FINANCIAL ANALYSIS 7 8.0 CONTINGENCY PLANS 8 Difficulties and Risks 8 Worst-Case Risks 8 REFERENCES 9 Financial Appendix 10 Table 1 – Emergency Care Group Pro-Forma Income Statement 10 Table 2 - Emergency Care Group - Revenue Forecast 11 Table 3 - Emergency Care Group - Expense Forecast 11 1.0 EXECUTIVE SUMMARY 2.0 SITUATION ANALYSIS 2.1 Company Analysis 2.1.1 Strengths • Continous growth over the past seven years • Owner had experience in small rural hospitals and with staffing companies • Contracted with an extensive pool of credentialed emergency physicians • Offered value-added services such as quality assurance and education to Emergency Departments (EDs) • Four cross-functional regional teams that was composed of a recruiter, credentialer, and a scheduler 2.1.2 Weaknesses • Profits were flat during company’s growth period •...
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...Public healthcare services are administered by different regulatory authorities in the United Arab Emirates. The Ministry of Health, Health Authority-Abu Dhabi (HAAD), the Dubai Health Authority (DHA) and the Emirates Health Authority (EHA) are the main authorities. Ministry of Health and Emirates Health Authority The Ministry administers a number of federal healthcare laws, including (i) Federal Law No. 5 of 1984 (regulating the licensing and registration of physicians, pharmacists and other healthcare specialists within both public and private healthcare establishments); (ii) Federal Law No. 7 of 1975 and Federal Law No. 2 of 1996 (defining the specific requirements for establishment and licensing of public and private medical laboratories, clinics and hospitals in the UAE); and (iii) Federal Law No. 4 of 1983 (governing pharmaceutical professions and establishments and the import, manufacture and distribution of pharmaceutical products). The Ministry oversees the Northern Emirates healthcare system (the Northern Emirates include Ras Al Khaimah, Ajman, Umm al Quwain, Sharjah and Fujairah). Some of the Northern Emirates recently started establishing new healthcare institutions or reforming existing ones. Sharjah, for example, established the Sharjah Health Authority by Sharjah Amiri Decree No. 12 of 2010. The Ministry, however, still invests substantial efforts to improve the level of healthcare services in the Northern Emirates. The projects announced...
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...INTEROFFICE MEMORANDUM TO: WANDA LANDS FROM: JOE MACK DATE: OCTOBER 22, 2003 SUBJECT: 2003 OPERATING PLAN This memo is being written in regards to the 2003 operating plan for Bellaire Clinical, Inc., the media campaign for 2003, and the future of Bellaire. The purpose of this memo is to highlight key factors regarding the operating plan in order to prepare for the next operating year. Competition has started to increase in the clinical laboratory testing industry, causing some uncertainties in the upcoming year. The new marketing plan looks to promote Bellaire’s accuracy, responsiveness, and flexibility in hopes to bring in new specialty contracts to improve Bellaire’s performance. Numerous hours have been spent developing the current draft of the operating plan, which is attached. Clinical Laboratory Testing Industry According to the Securities and Exchange Commission, in 2002, total revenue in the United States for the clinical laboratory testing industry totaled over $32 billion. The primary customers for laboratory tests are hospitals, physicians, and large corporations. The payments for the tests can be obtained by one of several parties; the hospital or physician, the patient, or some other party making a payment on behalf of the patient, like insurance. U.S. Congress imposes a cap on payments of tests provided to Medicare beneficiaries, which has caused labs to have limited ability to influence the price paid for these testing services. Bellaire Clinical...
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...Sunset Medical: A Statement of Cash Flow Case Scott Wandler* College of Business Administration University of New Orleans New Orleans, LA 70148 swandler@uno.edu Kevin Watson College of Business Administration Iowa State University Ames, IA 50011 kwatson@iastate.edu *Corresponding Author Abstract Medical is based on a real situation occurring at an Orthopedic Medical practice in Colorado. While attending a trade show Dr. Jones, the managing partner at Sunset Medical, was approached by a medical consulting firm, Physicians Medical Inc. (PMI), to provide the practice billing and administrative services. Dr. Jones decided to hire PMI and signed a contract in February of 2011. Based on the interim financial statements that were released in June of 2011, Dr. Jones gave PMI control of the overall day to day operations of the practice. PMI immediately relieved the office manager of her duties and took over all operations of the practice. In early 2012, the 2011 financial statements were released and were not as impressive as the mid-year results. Dr. Jones is now worried that the increased power given to PMI may have been a mistake and has asked you to give a full assessment of the situation. The case is suitable for an introductory Financial or Managerial Accounting class at the M.B.A. level once the students have a working knowledge of the financial statements. The students must critically evaluate contract language and...
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...Sunset Medical: A Statement of Cash Flow Case Scott Wandler* College of Business Administration University of New Orleans New Orleans, LA 70148 swandler@uno.edu Kevin Watson College of Business Administration Iowa State University Ames, IA 50011 kwatson@iastate.edu Abstract Medical is based on a real situation occurring at an Orthopedic Medical practice in Colorado. While attending a trade show Dr. Jones, the managing partner at Sunset Medical, was approached by a medical consulting firm, Physicians Medical Inc. (PMI), to provide the practice billing and administrative services. Dr. Jones decided to hire PMI and signed a contract in February of 2011. Based on the interim financial statements that were released in June of 2011, Dr. Jones gave PMI control of the overall day to day operations of the practice. PMI immediately relieved the office manager of her duties and took over all operations of the practice. In early 2012, the 2011 financial statements were released and were not as impressive as the mid-year results. Dr. Jones is now worried that the increased power given to PMI may have been a mistake and has asked you to give a full assessment of the situation. Introduction Dr. Sally Jones, a practicing Orthopedic Surgeon, is the managing partner at Sunset Medical3, a professional corporation located in Colorado. Sunset, which has been in business for approximately 10 years, is a small medical practice with 2010 revenues...
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...Decisions for Roller Skaters Part I – Krazy Jack and Lokita’s Role with Companies 1. What is Jack’s role? a. Nik’s role is to provide assistance to the companies Executive Alex, Director of Goofie Planning. The company’s role is to develop and manage organizational structure and processes. That includes helping the government with increasing their social needs. The structure and processes includes marketing, finance, purchasing, technology, human resources, physical resource, transportation, strategic planning, leadership, etc. Nik’s immediate role is draft the company’s plan as it focuses on organizational processes, human resources, and ethics. 2. What is Lokita’s role? Cross Salsa provides medical assistance to a vast majority of patients in the Fort Kingfish area. The medical billing department, allows the Cross to process patient’s billing within the organization. Melanie Popins, Director of Central Drilling, oversees the financial position of patient’s medical expenses to the hospital through therapy and procedures. Jacqueline’s immediate role is to provide medical billing assistance by processing hospital claims through Medicare and other insurance companies. This helps in minimizing account receivables. Part II – Assignment Outline 1. Introduction a. Long Island Ice Tea– When one thinks of the South Pacific, they would think of paradise; white beaches, gentle surfs, swaying palm trees, and tropical breeze (Business Scenario, 2011). i. Location – 1. Lava...
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...Caring Hospice Business Plan Bonita Lewis Central Methodist University COMPANY SUMMARY/CATCHY-SELLS Caring Hospice is a new hospice company in its start-up stages. It will offer compassionate and caring end of life care for terminally ill patients and their families in southeast Missouri. The company name “Caring Hospice” is catchy and easily remembered by consumers. The name indicates that this company will care for dying loved ones. MARKET ANALYSIS Caring Hospice will be located in Poplar Bluff, Missouri. This is the southeastern region of the state. It is comprised of poor communities where residents often are forced to travel as far as fifty miles or more for adequate health care. Market research shows there is a significant need for quality hospice care in this region, with only six competitors that travel to the homes of patients living in the rural counties (Yellow Pages, n.d). Caring Hospice will thrive for years to come simply due to the fact that it will bring care to the patients in their own homes. FINANCIALS The start-up budget includes a list of expenditures (Henderson, 2003). The expenses will be compiled of operating and non-operating costs (Dunham-Taylor & Pinczuk, 2010). The start-up costs will be paid with a new business loan the first 90 days. After this time, the business will be able to support itself with revenue from billing to Medicare, Medicaid, and private insurances (Hogan & Hartson, 2012). The estimated beginning...
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...Denise Todd Owner Quality Care Assisted Living Quality Care Assisted Living Business Plan Prepared: 5/18/2015 Contents Business Plan Summary………………………………………………………………………… The Business……………………………………………………………………………..3 SWOT Analysis………………………………………………………………………….3 Mission Statement……………………………………………………………………….4 Objectives………………………………………………………………………………..5 Product and Services…………………………………………………………………….5 Marketing………………………………………………………………………………………. Target Market…………………………………………………………………………...7 Product…………………………………………………………………………..............7 Promotion………………………………………………………………………………..8 Distribution……………………………………………………………………………...9 Price……………………………………………………………………………………..9 Implementation and Timeline ………………………………………………………………… Implementation and Timeline…………………………………………………………..10 References………………………………………………………………………………12 The Business QCAL has proposed building an assisted living facility (the ALF) with 22 single‐ occupancy units along with supporting common areas to meet the needs of area residents. The proposed facility will be approximately 14,791 square feet in size, and will be built upon a site that has not yet been identified. The ALF project is consistent with an overall economic development strategy in Clark County to add good paying, non‐seasonal jobs; strengthen its health industry cluster to diversify and stabilize the local economy; and build upon the natural strengths of the community (demographic trends, climate, and retiree‐friendly...
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...Capital Project – Practice Management System Amy Guerber HCS/571 August 30, 2015 Professor Linda Roan Practice Management System In medical practices, the investment in a practice management system is necessary to effectively manage the operations of all departments. A typical practice management system captures billing data, patient demographic information, strategic reports, and appointment scheduling. The HITECH Act of 2009 requires that patient demographics, as well as disease data, are collected and reported to federal and state health agencies in electronic format (CDC, 2012). As a result, our practice has made the decision to invest in the purchase and implementation of the Greenway Health practice management system. The purpose of this paper is to provide background on the system, identify the management and organizational goals for selecting this system, the benefits to the organization, and the justification for this capital investment. Greenway Health Practice Management As a web-based application, the Greenway Practice Management system has been selected as the preferred solution because of its ability to verify benefits eligibility for patients, manage patient scheduling and patient billing. The application will streamline the billing process for the multiple office locations in our practice, allowing for centralized management. A primary feature of the Greenway Health Practice Management system is its commitment...
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...point is to start work on the major issues before the hospital comes to an irreparable point. The first issue we will address is the payer mix issue. The Payer Mix. The Reimbursement issues with Medicare and Medicaid have become a revolving issue which has initiated the Obama care policy. Hopes are the plan is established in a way so the United States is able to resurface from its current bankrupt state. The problem today is paying for patients who are not able to afford the high prices of medical care. The first change provided by the CFO would be a breakdown of all the payers the hospital can manage at one time so adjustments can be made in the company budget. “Consider the classic hospital payer mix—the current mix for many hospitals—where Medicare accounts for 40 to 50 percent of a hospital’s net revenues. Then add 5 to 12 percent for payers that come from Medicaid and the sum suddenly seems to make it virtually impossible for a hospital operating under this mix to easily impact its outcomes (Managed Care, 2013).” The hospital needs to stop accepting Medicare patients if they are not able to keep the doors revolving for these patients. In order for this plan to work other hospitals in the immediate vicinity need to accept the patients that Middleton cannot. Middleton is not able to be the only established hospital and if our...
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...assistants). This is due partially because CNA’s are usually nursing students, or those who are studying to obtain their LPN (licensed practical nurse) or RN (registered nurse) license. A nursing home is not for everyone. The following staffing standards statistics are summarized primarily from a December 2010 study, “Nursing Home Staffing Standards in State Statutes and Regulations”, by Charlene Harrington, Ph.D. R.N. “Federal Staffing Standards Section 483.30: Nursing Services requires that "... the facility must have sufficient nursing staff to provide nursing and related services to attain or maintain the highest practicable physical, mental, and psychosocial well-being of each resident, as determined by resident assessments and individual plans of care..." MA Staffing Standards Section 150.007: Nursing Services requires that "...all facilities provide appropriate, adequate and sufficient nursing services to meet the needs of patients or residents and to assure that preventive measures, treatments, medications, diets, restorative services, activities and related services are carried out, recorded and reviewed..." Also, "...the minimum staffing patterns and nursing care hours [in this section are] minimum, basic requirements. Additional staff will be necessary in many facilities to provide adequate services to meet patient needs..." MA regulations define four...
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...Business Plan for a Physical Therapy Clinic Benita Hodgson HCA 311: Health Care Financing & Information Systems Instructor: Garlyn Lewis March 17, 2012 Table of Contents 1) Executive Summary 3 2) Services and Equipment 4 3) Organizational Structure 6 4) Marketing Plan 7 5) Financial Analysis 8 6) Summary 11 Business Plan for a Physical Therapy Clinic Executive Summary Living Well Physical Therapy clinic is a privately owned business with one owner. The owner has a four year degree in healthcare specializing in physical therapy rehabilitation services. The clinic has been in operation for approximately 3 years in a small building located downtown in Fayetteville North Carolina. The business has outgrown the current space and is in need of an upgrade to a bigger building, new equipment, and more therapists...
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