A sampling of our expertise in action

Specialist Group realizes ROI of 150%
By looking at things a little differently, one of our clients was able to see a substantial ROI on a minimal investment. First, we established a “lockbox arrangement” which allowed the group to be placed into an interest bearing account. We then reviewed their retirement plan and deferred compensation arrangement and determined that switching programs would result in substantial income increases. By following basic guidance from The Rubicon Group, the specialist group turned a minimal investment into a $45,000 annual income increase.

HR Analysis results in $50,000 annual savings
We reviewed the compensation policy of one of our client’s practices and determined that management was being compensated at almost twice the market rate for people with comparable skill/experience. The physicians, armed with this information, were subsequently able to replace former management with people with similar skill sets and realize an annual savings of almost $50,000.

Metrics analysis improves efficiency, increases revenue
As is often seen in the physician world, we recently put our expertise to work for a practice that was convinced that the answer to all problems was to work harder. But focused metric reporting indicated that hard work was the last thing they should be worried about. Benchmarking data indicated they produced at 50% higher than the average for their specialty but they were being reimbursed at less than two-thirds the market average. By refocusing efforts on managed care contracting and A/R discipline we were able to decrease workload and increase revenue.

The Rubicon Group believes strongly in the power of metrics. By thoroughly analyzing specific operational aspects of medical practices, we have been able to dramatically reduce waste and improve efficiency and the bottom line. Working harder is rarely the answer. Working smarter usually is.

The benefits of expert contract review
A client recently asked us to review a consulting contract. We discovered that their practice was paying a professional level consulting fee for services provided by an uncertified junior level consultant. After identifying this waste, our client immediately terminated that consultant agreement and enjoined us to facilitate a contract with a new vendor at a fraction of the previous cost.

Innovative Risk Management Strategies
A severe medical liability market with exponentially rising rates and the looming threat of loss of coverage caused a small OB/Gyn consortium of 50 physicians to form their own off-shore captive. Five years later it is now a highly successful insurance vehicle for numerous OB physicians across Ohio. The formation of Oasis provided a number of attributes to the independent physician participants. Not only was this a way to remove themselves from a highly volatile and expensive market, it provided the basis for true specialty-based risk management and peer review. As a result, issues of patient safety, outcomes and errors of liability were significantly mitigated. The captive has also been a successful financial tool as it has assisted physicians in the understanding of the costs of risk as well as the rewards when claims are successfully managed.

This is not an uncommon occurrence. The Rubicon Group has decades of experience with physician practices, which enables us to quickly spot inefficiencies or unreasonable contracts and replace them with more equitable agreements.