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Practice Management Consultants

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Business Models

Thorpe Associates, LLC introduces a New Business Model designed to Support the Single provider Chiropractic Office 

Building a Better Healthcare World One Practice at a Time

The New Chiropractic office Business Model does not require front office staff to manage the Practice Schedule. The Practice can get payment for services rendered without a billing staff or a Billing Service.

What is the Purpose of the New Chiropractic Office Business Model.

1. Unite the Chiropractic Community Purchasing power and Increase financial leverage for the practice 
2. Reduce or eliminate unnecessary business expenses. 
3. Improved workflow so the Chiropractic office can achieve business goals and focus on patient care 
4. Improve Cash flow and Optimize the Chiropractor’s take home pay

What is the New Chiropractic office Business Model

Scheduling, Billing, Practice Management and Electronic Health Records designed with integrated Electronic Transaction solutions, including Electronic Healthcare Claims, Real-time and Batch insurance eligibility verification and electronic posting insurance payments to the patient account. Professional Practice Management Services.

What is required of the single office Chiropractor

1. Schedule Patients and Collect Co-pays on the date of Service 
2. Enter a Procedure and diagnosis codes into our software at the point of care 
3. One click to delivery the visit to our claims processing platform. 
4. Print Daily deposit slip and Attach the Bank Deposit Receipt 
5. Collaborate with your Practice Management Consultant

What is Required of Our Practice Management Consultants

Service your Account

1. Daily Document Patient payments by Cash, Checks or Credit Card Payment 
2. Evaluate and post insurance explanation of Benefits to the patient account 
3. Hold 3rd Party Payers accountable for correct and timely payment for patient services 
4. Prepare A Day Sheet and reconcile the accuracy of Accounts Receivables
a) A day sheet is a list of daily charges and payments for each patient
b) We cross reference the day sheet to the schedule to verify and account for daily Charges

Monthly Report Reports

1. We closeout the accounting period in your Practice management Software 
2. Prepare the Practice Income Statement

a) The Revenue line on the income statement shows the amount of cash collect by the practice 
b) We list your practice expenses 
c) Subtract expenses from revenue to report profits or Loss 
d) Profit or Lost add to or decrease cash reported on the Practice Balance Sheet

3. Prepare the Practice Sheet

a) The Practice Balance Sheet Reports Assets, Liabilities and Owner’s Equity 
b) Cash and Accounts Receivables are current assets 
c) The Money or debt you owe are liabilities 
d) Subtract what you owe from what you own to report the value of your practice

Prepare Cash Flow Statement

A cash flow statement reports money coming in the door and money going out the door.

a) Cash flow from the practice business operations is reported as a profit or loss on the income statemen 
b) Cash Flow financing operation 
c) Cash flow from Investing Activites

Our Practice Management Consultants trained are experts at identifying Bottle necks in your practice that interrupt cash flow. We will isolate these bottle necks, propose a business solution and collaborate with your leaders to achieve stated practice management goals