Practice Start-Up

Our team at TriumpHealth can assist you with the entire process, from setting up your practice to managing your finances and billing operations.
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SOLUTIONS

Start Your Medical or Dental Practice with TriumpHealth’s Comprehensive Approach

Are you starting your own private practice? Medical practice start up or dental practice start up on your own can be tempting, but simple mistakes can cost you thousands of dollars in your first few years alone. Many providers become understandably overwhelmed when they begin this process, and often don’t know where to begin. Utilizing the experience of our practice start-up team will help you avoid these setbacks and see a faster return on your investment.

TriumpHealth’s team of experts has developed a step-by-step process to make sure your medical or dental practice start-up is successful and efficient. From analyzing patient demographics to creating employee handbooks, we’ll be with you every step of the way.

How We Tailor Our Services According To Your Needs?

We understand that each practice is different, with specific requirements based on specialty, location, and goals. That’s why we offer tailored solutions to help you succeed. Whether you’re a private dental practice start-up, multi-specialty, or urgent care clinic, we’ve got you covered in all 50 states.

practice startup

Additionally, We Help Assist With the following:

  • Vector 20 HIPAA/OSHA Training & Certification
  • Vector 20 New Staff Training & Administrative Set-up
  • Vector 20 Front Office Workflow Training
  • Vector 20 Creating Employee Policies & Procedures Handbook
  • Vector 20 Establishing Best Practices for the day-to-day operation

Our Range of Comprehensive Services For Medical Practice Start-Up

We offer a variety of services to help you get your medical practice start up running. From setting up your legal entity and credentialing with government and commercial payers to staff training and creating policies and procedures, we’re here to help you every step of the way. Here are some of the most critical practice start-up services we offer:

  • Vector 20 Patient Demographic Study in new practice geographic location
  • Vector 20 Support of Legal Entity Set-up
  • Vector 20 Provider Credentialing with Government, Private & Commercial Payers
  • Vector 20 Medical Billing, AR Follow-up, & Denial Management
  • Vector 20 Help with evaluation of new EHR and Practice Management Software
  • Vector 20 Payer set-up in billing software
  • Vector 20 EDI Enrollment Assistance
  • Vector 20 EFT/ERA Set-up
  • Vector 20 Hardware Set-up, including Office Scanning, Faxing & Internet Set-up

Frequently Asked Questions

What are the key considerations for healthcare professionals when starting a new medical practice, and how can your services assist in the practice start-up process?

When starting a new medical practice, healthcare professionals must consider various aspects such as billing software selection and set-up, provider credentialing, employee policies, HIPAA & OSHA compliance, front office training, patient intake process, hardware and internet connectivity, patient marketing etc. Our tailored services assist in all these areas from start to finish.

What steps do you take to guide practitioners through the legal and regulatory requirements associated with launching a new medical practice, including licensing, permits, and compliance?

We do not provide legal support; however, we do help guide practitioners through the process of new practice set-up, including getting credentialed or in-network with government, private and commercial payers, while complying with payer guidelines.

How do you assist in creating a comprehensive business plan for a new medical or dental practice, and what elements are typically included in this plan?

Our support includes assisting with fee schedule set-up, payer reimbursement review, procedure (CPT) analysis, proactive denial reduction planning, appeals template creation, establishing key performance indicators (KPIs) and benchmarks related to revenue cycle management.

How do you support healthcare practitioners in selecting and implementing the right technology and software solutions for their new medical practice, such as electronic health record (EHR) and billing software?

We provide expertise in selecting and implementing technology solutions for the new medical or dental practice, including electronic health record (EHR) and billing software evaluation and selection. Our assistance extends to setting up and configuring these systems to streamline practice operations and optimize billing processes.

What financial considerations should healthcare providers take into account when starting a medical or behavioral health practice, and how can your RCM company assist in navigating these aspects?

When starting a practice, providers need to budget for various expenses, including office space, equipment, staffing, and technology. Our RCM company offers insights into the costs associated with selecting appropriate software and understanding the financial implications of a practice start-up. While we don’t directly provide financial services, we guide providers in assessing their financial needs and expectations, helping them make informed decisions to support a successful practice launch.

Our Process

1

Selecting Billing Software

Research and select a suitable billing software system for your medical practice. Consider factors such as ease of use, compatibility with your practice’s needs and workflow, integration capabilities with electronic health records (EHR) systems, and support for billing and coding requirements.

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2

Implementation and Training

Install and configure the chosen billing software system, ensuring it meets your practice’s requirements and integrates seamlessly with existing systems. Provide comprehensive training to staff members responsible for billing and coding, including how to navigate the software, input patient data, generate claims, and process payments.

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3

Credentialing with Insurance Companies

Initiate the credentialing process with insurance companies to become an approved provider and eligible to bill for services. Gather necessary documentation, such as provider licenses, malpractice insurance certificates, and practice information, and submit credentialing applications to each payer. Follow up with payers to track the progress of credentialing applications and address any additional requirements or inquiries promptly.

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4

Testing and Optimization

Conduct testing and optimization of the billing software system to ensure accuracy and efficiency in claims submission and reimbursement processes. Verify that claims are generated correctly, coded accurately, and submitted timely to insurance companies. Monitor claim denials and rejections, identify trends or issues, and implement corrective actions or system adjustments as needed to optimize billing operations and maximize revenue.

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Benefits of Working with TriumpHealth

Practice Start-Up

1

Comprehensive Practice Establishment Solutions

We offer comprehensive support for starting your medical practice, handling everything from initial software set-up to submitting your claims, allowing you to focus on patient care.

2

Dedication to Compliance

Our team ensures that all aspects of practice establishment are met with precision, reducing the risk of compliance issues.

3

Financial Stability

By guiding you through the financial aspects of starting a practice, we help mitigate financial risks and ensure a solid foundation for sustainable growth.

4

Peace of Mind

With our expert support, you can embark on your medical practice journey with confidence, knowing that every detail is taken care of, leaving you free to concentrate on delivering excellent patient care.

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We will help you achieve financial and regulatory compliance goals resulting in improved patient outcomes and increased revenue.