Are Your New Acquisitions or Affiliations Maximizing Revenue Potential?
You’ve made the acquisition. Now, how do you make sure it works?
Integrating a new practice is stressful. You are worried about:
- Losing patients during the transition
- Making billing errors that cost you money
- Missing hidden problems in the practice
At Five Lakes Dental Practice Solutions, our revenue cycle consulting services streamline the integration of new practices, optimize financial performance, and align operations to reach your DSO’s goals, so you can focus on patient care, practice growth, and growing enterprise value.
Five Lakes Revenue Cycle Consulting for newly affiliated practices provides validation to expected pick-up, while identifying additional opportunities that can’t be identified in due diligence. Further, it allows you to streamline and clean up many facets of your payer contracting strategy, including fee schedules, patient access, and corporate structure.
Our RCM Consulting Services for Newly Affiliated Practices provide a comprehensive, data-driven approach to ensure your newly affiliated practices thrive from day one. We review financial performance, patient demographics, and market opportunities to determine the practice’s revenue potential and growth opportunities, ensuring a profitable investment.
DSO Integration Services
Apply Negotiated Fee Schedules
We implement optimal fee schedules negotiated across your DSO’s footprint to maximize reimbursements and align with payer contracts.
Streamline Payer Contracting Strategy
We develop a strategic payer contracting strategy. Selected plans will align with your business goals and patient base to avoid suboptimal contracts that erode profits.
Review Office Fees
We analyze and adjust office fees to ensure competitiveness and alignment with market standards. This can boost revenue without compromising patient retention.
Execute Tax Identification Changes
We manage seamless updates to tax IDs. Our team ensures compliance and uninterrupted billing processes during the transition.
Identify Issues, Risks, Strengths, and Weaknesses
Our thorough analysis uncovers operational risks, compliance gaps, and areas of strength to provide a clear roadmap for improvement and growth.
Record Collection and Documentation
We organize and standardize insurance records, fee schedules, and documentation for accuracy, compliance, and efficient revenue collection.
WHY CHOOSE FIVE LAKES?
Effective revenue cycle management for newly affiliated practices drives DSO profitability and operational consistency. Without a strategic approach, DSOs risk revenue losses from misaligned fees, inefficient or inconsistent payer contracts, or undetected operational issues.
Five Lakes’ consulting services for DSOs deliver actionable insights, streamlined processes, and optimized financial performance. Our team can enable your DSO to integrate new practices seamlessly while prioritizing quality patient care.
New DSO FAQs
What are the biggest financial risks when starting a DSO, and how can Five Lakes help?
The main risks are misaligned payer contracts and slow credentialing after an acquisition . You could be losing money from day one if the new practice isn’t on your negotiated fee schedules. Five Lakes helps you align payer contracts and fee schedules so your new practice is billing correctly and profitably from the start.
Staffing shortages and high labor costs are a big concern. How can Five Lakes make a difference?
We help you centralize and streamline administrative functions like credentialing, payer enrollment, and insurance verification . Your staff spends 10-20 hours per network on tedious paperwork and follow-ups. We take over this heavy lifting, freeing your team to focus on patient care and higher-value tasks. We handle over 5,000 credentialing applications annually, so your team doesn’t have to.
How can a new DSO improve insurance reimbursements across all our practices?
We quantify your DSO’s total patient volume and access points to negotiate stronger fee schedules with payers. Our team will also develop a strategic payer contracting strategy to ensure you’re in the right plans and have optimized fee schedules across your entire footprint.
What are the most common integration mistakes new DSOs make, and how do you prevent them?
Two major mistakes are failing to uncover hidden risks during due diligence and assuming a “one-size-fits-all” approach. We provide a thorough analysis of newly affiliated practices to identify operational risks, compliance gaps, and revenue opportunities that can’t be seen in standard due diligence. We also tailor our integration plan to your specific goals and technology environment.
Ready to Unlock Your New Practices’ Revenue Potential?
Do you need help successfully integrating a new practice? Our expert team covers contracts, credentialing, operations, and revenue cycle. Call Five Lakes at (440) 636-1378. You can also contact us online for a consultation.