On this episode of Closing The Books, a podcast by IC System, Host Tyler Kern talked with Mary Prendergast, Vice President of Business Development at IC System, and Gary Meza, CEO, and Owner of GTM Medical Consulting, whose mission is to become the leading business advisor for physicians in the Mid-Atlantic by helping its clients achieve best practices both financially and operationally. The trio talked about how a business adviser can improve your healthcare organization’s revenue challenges.
Meza and GTM Consulting help practices that are struggling. Having worked with over 100 practices from numerous backgrounds, he helps them by restructuring them and making them more financially sound. One of the main issues he sees is billing efficacy, which in turn becomes a cash flow issue.
“To flesh this out I ask physicians if I can review their accounts receivable and monthly billing report,” Meza said. “Very seldom do they review these on a regular basis. They just want to practice medicine.”
The business of healthcare has changed over the last ten years, however, with practices now forced to enlist a business consultant or business manager. Meza has been a long-time partner of IC System, introducing clients that need help with bad debt solutions. The pandemic, however, has brought a fresh round of challenges to the industry.
Listen to hear more about these challenges and how a business adviser can help improve a healthcare organization.