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Time commitment to revenue enhancement goals can be financially risky if a practice is not sure if it will achieve results. Partnering with an experienced professional is a favorable way to reduce the risk if the returns are greater than the costs. HCF Enhancement offers such a program to select practices. In Contingency Modeled Success, the client-practice generally pays for results, not time.
In HCF's contingency programs a defined portion of risks, costs and rewards are shared between the practice and HCF in the pursuit of financial success. The risk to the practice of contingency-based services may be minimized since HCF itself is assuming much of the time-investment risk itself.
Practices that participate in the contingency-based program are practices that recognize that change is needed, who working alone might otherwise have limited chances of success, and who are willing to engage in a partnership process to carry out that change.
Clients are happiest when they pay for proven results, not just advice. A firm contract without ensured results can be troubling. There are thousands of consultants who will take their clients' money whether or not they perform services up to their client's goals. As an alternative, HCF Enhancement offers an alternative to fixed-fee work.
1. The practice brings to the table opportunity and desire for change
Contingency (shared-risk) isn't appropriate in all cases, but there are times when it may be the best approach.
· Patient Volume Growth
If you have practice goals that fit well with the Contingency Model, or would simply like to discuss your goals, please drop us a line.
HCF Enhancement, LLC is a professional consulting firm. While we strive for accuracy in the information we share, any free information found in this web site, including information derived from newsletters and links, is intended for general audiences and may not be appropriate for every situation. Please contact your professional practice consultant, before acting on any advice you see on the web.
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Contingency-based Revenue Enhancement Services
What is Contingency-Modeled Success?
Why is the Contingency Model better than a Fee-for-Service Model?
How does the Contingency Model Work?
2. HCF brings to the table years of experience and know-how to take action
3. General ideas and goals are discussed between both parties
4. Proposals for change (based on #2) are formally recommended by HCF to practice leaders
5. A common vision, plan, and set of time-based goals are agreed upon
6. Plans are initiated (action taken)
7. Results are achieved
8. Rewards are shared
What General Goals might qualify for Contingency-based work?
· Managed Care Optimization Management
· Revenue Growth
· Expense Reduction