New Practice Development

New Practice Development is one of HMR’s core competencies. A few of the many important issues that you will want to address in your new practice startup include: Developing a realistic financial pro forma, securing your capital financing; choosing your practice location and evaluating your staffing needs. HMR will work with you every step of the way.

New Practice Development Services:

  • Feasibility analysis
  • Business and strategic plans
  • Pro forma financial projections
  • Establish banking and financial relationships
  • Establish legal and accounting relationships
  • Set up and implement billing and accounts receivable system and procedures
  • Evaluate and select information systems
  • Develop a fee schedule
  • Negotiate managed care contracts
  • Third-party payer credentialing
  • Conduct practice location evaluation
  • Negotiate space and equipment leases
  • Staff recruitment
  • Develop and implement policies and procedures
  • Establish and administer fringe benefits
  • Procure office equipment and supplies
  • Strategize and implement marketing plans