Physical Therapy MSO Focused on Growth and Stability
Many small physical therapy providers are turning to management services organizations (MSO) to aid them in adapting to major changes in the rehabilitation sector. As practices are shifting from volume-driven, fee-for-service payment models to ones that are value-based, consolidating a practice’s operations by integrating with a larger network proves a promising alternative to cutting vital resources or closing business.
This is where a physical therapy MSO comes in.
Clinical integration offers small, private physical therapy practices opportunities to grow and increase revenue while reducing the stress of managing a practice’s back office and administrative duties. This is especially appealing when considering the increasing financial, administrative, regulatory, and compliance burdens that physical therapy providers face.
Pro Staff Institute, LLC is an MSO provider in New Jersey providing administrative, back office, and human resources management services for physical and occupational therapy practices. Rather than simply acting as an outsourced solution, Pro Staff seeks to form a closely bonded partnership with your small physical therapy practice.
Many small, privately owned physical therapy practices are facing increased pressure due to a lack of strong management and resources. This impedes developing infrastructure needed to adapt to the world of clinical integration. Thus, physical therapy MSO services are a necessary solution for business growth.
We want to help you manage your business more efficiently and productively than ever before. Whether you are looking for assistance with non-clinical operations, decreasing your business overhead, improving your service, maximizing your profits, or improving the quality of your work life, our team can add immediate value to your practice. We consolidate all of your non-clinical services in a practical manner by grouping, centralizing and using the economies of scale to reduce pricing for essential services.
These are the benefits that business owners enjoy when partnering with a physical therapy MSO like Pro Staff Institute:
Focus on Doing What You Love
As the owner of a small physical therapy practice, you may find that you are spending more time managing your business instead of caring for your patients. Not only do these administrative duties add more to your workload, but they can also become major distractions.
Our physical therapy MSO services are designed to help you return to doing what you love. Allowing our team to handle recurring management tasks will remove any unnecessary distractions from your work life. This will allow you enjoy peace of mind while focusing on providing the highest quality of patient care possible.
MSO Means Stress-Free Patient Care
Our goal is the same as yours: to improve the quality of care that patients receive. We achieve this by fulfilling your practice’s non-clinical duties so that you can focus solely on providing your patients with the care that they need.
An MSO can also help you manage an unexpected crisis in the workplace. Having an issue with billing? Need coverage for one of your on-site employees? Perhaps your computer systems aren’t working as they should and you need IT help?
Pro Staff Institute can oversee your back-office duties with experience and resources necessary to address these operational obstacles. By trusting our team to see you through the unexpected, you can expect less stress in your work environment.
Our team believes that a small physical therapy practice should enjoy the benefits of larger networks without having to sacrifice autonomy or identity. By joining the Pro Staff Institute’s network, practices enjoy growth benefits like increased insurance reimbursements, centralized management, and decreased overhead. This results in lower operating costs and increased revenue.
MSO Services that We Offer
We are able to offer a wide variety of MSO services to best fit your individual needs. Pro Staff Institute’s group purchasing power and economies of scale make this possible. Centralizing administrative and management functions increases efficiency and standardizes services while creating an economy of scale on a per-member, per-month (PMPM) basis. These economies of scale incentivize business owners to seek partnerships that will increase membership and reduce PMPM administration costs.
While physical therapy MSO services can be provided separately, the full range of services can include any or all of the following:
Practice Management & Administration
- Human Resources and Benefits Administration
- Staff Training
- Facilities and Office Management
- Payroll and Finance Management
- Education and Training
- Tax and Accounting Services
Revenue Cycle Management
- Coding & Documentation Software
- Outcome Tools
- Billing/AR Follow-up
- Provider Enrollment and Credentialing
- Payor Contracting
- Managed Care Contracting
Analytics and Consulting
- Vendor Management and Group Purchasing
- Merger Planning and Facilitation
- Labor Productivity
- Compensation Design
- Wealth Management
Patient Access & Communication
- Insurance Verification
- Financial Counseling
- Point-of-Service Collection
- Patient Satisfaction Survey
- Patient Communication
Insurance Brokerage Services: By partnering with an MSO like Pro Staff Institute, you enjoy the benefits of working with a single, large insurance broker that can cover all employee benefit insurances, corporate liability insurances, and a higher level of customer service. . To remain competitive themselves, brokers affiliated with an MSO must deliver dedicated, premium service while providing products to a large group at a competitive cost.
Malpractice Insurance: Partnering with an MSO management team can provide your practice with leverage when negotiating for a more affordable malpractice premium. By renewing all Pro Staff Institute’s therapists’ policies on the same schedule, we enjoy pricing benefits.
Additionally, when an MSO reaches sufficient size, there is an opportunity to establish a captive insurance company. A captive insurance company is created and owned by a non-insurance provider to provide risk protection to its members. This allows the MSO and physical therapy practice to insure themselves and no longer rely on the services of an outside broker.
Collection Agencies: Collection agencies offer lower fees and provide a higher-quality, more individualized service to MSO participants. It is preferable for the collection agency to have accounts from multiple practices sent from a single billing entity in standard format.
Want to discuss any of Pro Staff Institute’s MSO services in more detail? Contact us today!
Pro Staff Institute, LLC, manages a network of outpatient physical rehabilitation centers in New Jersey. The Pro Staff companies were founded in 2010 by Frank Pavlisko and Michael Maffucci. Through Frank’s 25 plus years experience in Physical Therapy and Michael’s experience in Management Services, our goal is to exceed customer expectations by providing the highest quality of service in a fun, family, friendly, and encouraging environment.