Hospitals & Health Systems

Healthcare executives face nuanced issues in this ever-changing and complex healthcare environment. Improving quality, reducing cost and maximizing outcomes are three fundamental activities organizations must take to stay relevant and ensure sustainability in today’s healthcare market. As organizations are pressured by patients, payors, and the market, they need to have the appropriate processes, tools, and structures to respond. LBMC can help equip organizations to manage these challenges.

Solutions for Hospitals & Health Systems:

Audit Services l Lease Accounting Services l Physician Compensation Valuation l Cybersecurity l Tax Consulting and Outsourcing l Coding & Compliance I Data Analytics l Hospital & Health Systems Advisory Services l Reimbursement Consulting

My name is Chris Farley. I’m the VP of Integration for PhyMed Healthcare Group, a practice management company owned and managed, and led by physicians.

PhyMed Healthcare Group has worked together with LBMC on six to eight deals at this point, and it’s always with Lisa Nix and her team. She’s very easy to work with and very responsive to our needs. I totally trust her insight, as does the rest of the PhyMed team.

Our CFO, our deal team, assist development team of which I’m a part of, we rely very heavily on the information that the LBMC Transaction Advisory Services team provides. And we will typically try to tie it back from our finance team as well, but not to the level that LBMC does, and it always ties back together.

There is a very high degree of trust and confidence in the work that LBMC produces, and we use it for multi-million-dollar deal purchases. There’s a great deal of faith in LBMC.

Behavioral Health Providers

We have a long history of providing quality services to top healthcare organizations across the country. Our deep industry, and specifically behavioral health expertise, breadth of resources, and local decision-making authority mean that we are nimble and able to offer proactive advice and fast responses. We spend significant time and resources recruiting top talent with vast experience in order to strengthen our expertise and service offerings.

We have deep experience serving clients in the not-for-profit and private equity and behavioral health industries. Our Firm/team is accustomed to large, multi-location, multi-state engagements with the ability to grow with our client’s future expansion. We have experience in Medicare and Medicaid cost report preparation and reimbursement consulting. We also have experience performing OMB A-133 audits.

Solutions for Behavioral Health Systems:

Audit Services l Finance & Accounting Outsourcing l Transaction Advisory Services I Data Analytics l Human Resource Services  l Tax Consulting and Outsourcing l Technology Solutions

Medical Practices

Our LBMC healthcare team is comprised of seasoned industry experts with strong backgrounds in serving healthcare organizations, specifically medical practice, and practice management entities. We have vast industry experience, are leaders in the healthcare industry, and have experience working with physician practices with significant growth plans.

Our level of resources and breadth of service offerings set us apart from our competitors.  The combination of LBMC’s specific industry sector experience and additional comprehensive service offerings provide a unique solution not only for where you are today, but even further, as a long-term partner to assist with other needs and projects as part of your future growth.

Solutions for Medical Practices:

Tax Consulting and Outsourcing l Human Resources Services l Audit Services l MSO Services l Revenue Cycle Services l Finance and Accounting Outsourcing l Data Analytics l Transaction Advisory Services l Coding & Compliance | Physician Practice Management l Technology Solutions

Post-Acute Care Providers

As reimbursement challenges continue to rise amid the increasing financial constraints imposed by recurring cuts to Medicare and Medicaid, providers must develop new fiscally strong strategies to preserve and increase revenue. Regardless of the downward pressure on revenue, the patients need and must receive high quality care. Coordination of care among ambulatory, acute and post-acute care providers is critical. Effective strategies begin with managing care prior to an acute episode and collaborating with all providers and the patient throughout the continuum to ensure safe transition back into the community.

LBMC’s Post-Acute Care Consulting Team of experts assist with the coordination of care among ambulatory, acute and post-acute care (PAC) providers from an operational perspective. We work with providers to effectively respond to strategic, regulatory and reimbursement challenges as well as with hospitals to develop post-acute care network strategies and focus on more coordinated less-costly continuum of care. This strategy includes working with long term care facilities and home health & hospice providers.

Solutions for Post-Acute Providers:

Tax Consulting and Outsourcing l Human Resources Services l Audit Services l MSO Services l Revenue Cycle Services l Finance and Accounting Outsourcing l Data Analytics l Transaction Advisory Services l Coding & Compliance

Healthcare Technology Companies

LBMC offers audit, tax, advisory, and HR Outsourcing services to help clients propel towards growth. Our professionals understand the complex issues executives face in technology. In this fast-paced world of e-commerce and new technology, our clients must be ready to seize new opportunities and scale while simultaneously planning.

We have experience working with healthcare technology companies in every stage of growth—from startups, venture and private equity-backed to publicly-traded. By taking time to understand goals and objectives of healthcare technology business owners, we offer solutions are on point and provide for optimal results as they grow.

Solutions for Healthcare Technology Companies:

Cybersecurity l Audit Services l Tax Outsourcing and Consulting l Transaction Advisory Services l Recruitment Services l Technology Solutions l Data Analytics

Other healthcare industries served

LBMC has significant experience in the healthcare industry. With more than 300 healthcare related organizations ranging from multi-billion-dollar organizations to smaller organizations, our industry experience have knowledge and expertise in serving companies in these segments:

• Durable Medical Equipment
• Health Plans & Payors
• Clinical Laboratories
• Dental Providers
• Life Sciences Companies
• Pharmaceuticals
• Rehabilitation and Physical Therapy
• Renal Dialysis
• Rural Health Clinics / Federally Qualified Health Centers
• Urgent Care

Our Approach
LBMC was engaged to perform pre-close services to include financial, tax, and coding/compliance /billing due diligence. Post close, LBMC was engaged to provide an IT solution (PM/EMR) selection and revenue cycle services (payor enrollment, credentialing, billing, AR mgt ) in addition to audit /tax compliance work.

The Outcome
LBMC provided back-office solutions and audit/ tax compliance work to support the overall growth model. MedSpa was enabled to recruit /retain multiple dermatologists to provide a more comprehensive array of services to include general, cosmetic and surgical dermatology services in multiple states.