Healthcare Franchise, Billing: Health Care Practice Partners Interview

FranchiseHelp interviewed Barbara Hendon, one of the co-founders of Health Care Practice Partners?(HCPP). The healthcare franchise?offers medical revenue services such as medical billing, practice management, and revenue recovery services. Both Hendon and fellow HCPP co-founder Martha Sutton previously co-founded?AirLogix, a national respiratory health management company. Hendon talks to FranchiseHelp about her past experience with her previous company, the healthcare management industry, and what lays ahead for HCPP and the changing healthcare industry.

FranchiseHelp: What skills or knowledge from your previous company, AirLogix, did you find crucial in starting up and running HCPP?

Barbara Hendon: Every experience we?ve had contributes to our ability to start and manage our business.? We opened offices and provided services in 17 states during our time with AirLogix.?? I would say the most crucial skill is our ability to replicate our business model in multiple sites with quality and precision while measuring the results.

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FH: They are both healthcare-focused companies, but focus on different areas and functions of the industry.

BH: Yes, they are different but our philosophy is not.? As our mission statement says, we are committed to quality and affordable health care for all in need.? By managing the business aspect of our physician clients? practices, they can focus on patient care.

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FH: How did you get the idea for the franchise? ?And what were some of the challenges in starting up the company?

BH: We first thought we would expand our services by opening additional offices and hiring staff, but decided that a franchise model would allow others to realize the American Dream by owning their own successful business.? Business ownership is an experience we wanted to share with those who have the drive and determination to work hard.

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FH: What are the most important things a prospective franchisee or employee should know or be prepared for when entering the healthcare billing and management industry?

BH: They need to be prepared for a dynamic work environment, where policies and processes are constantly changing.? The advantage of being in a franchise system is that these policies and processes will be disseminated to them by the Franchisor.? Most medical billing professionals have a difficult time keeping up with the ever-changing components and regulations of medical insurance and governmental payers. As a Planned Practice Management company, billing is only one component of services we provide.? However, it is the most important service.

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FH: Since regulations and coding are always changing, how do you keep franchisees, employees, and technology updated with the latest changes?

BH: Our HCPP National office has the experience and resources to monitor, test and institute changes to our internal processes, and stay current with payment policies and billing/coding/documentation regulations.? Our franchisees will be notified and instructed upon the change of processes that affect our RevenuePath?, our proprietary system of revenue cycle management. ?Our technology partner is also proficient and skilled in updating the software program that houses and drives the RevenuePath?.

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FH: How do you keep ahead of the curve when it comes to competitors, privately-owned or in-house or similar franchises?

BH:

• We provide Planned Practice Management, so our goal is to enhance profits for our clients, not just billing and collections.
• We are located in the USA; we do not out-source to an overseas call center.
• Our franchisees must have a professional office.? We do not office from the home.
• Franchisees are supported by a network of resources that most ?mom and pop? offices are not. Who is going to do the work when ?mom and pop? go on vacation?? Who is going to do the work if the in-house person gets sick and is out for two weeks.
• Our software is state-of-the-art and continually upgraded.? Some competitors are bogged down by an antiquated system they can?t afford to purchase upgrades or replace.
• Our concept delivers a significant result using a proven process.? Our audits support that claims are paid correctly 98% of the time, the first time! As a result, our clients generally realize a 15% increase in revenue, a healthier cash flow, and enhanced profits.

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FH: As a franchisor, what are some of the most important things you provide franchisees related to healthcare management?

BH: Proven processes and 60+ years of collective experience.

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FH: Where do you see HCPP going in the next five years?

BH: We have a very conservative growth plan to produce fifty franchises by the end of 2014 which will give us the opportunity to provide outstanding support to our franchisees and their clients.? We also have other ideas of services we can implement that will complement our Medical Practice Management and Profit Enhancement Services.

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FH: Are there any changes you foresee in your industry?

BH: The Patient Protection and Affordable Care Act (PPACA) signed into law on March 23, 2010, reforms certain aspects of the private health insurance industry and public health insurance programs including increased coverage of pre-existing conditions and expanding access to over 30 million Americans.? This means that there will likely be even greater pressure on physicians and health care providers to focus their time and energy on providing patient care, lessening their practical ability to focus on the management of their practices.? Consequently, it may make more sense for them to seek help regarding practice management, including outsourcing certain management aspects to professionals that are experienced in handling the broad spectrum of issues regarding compensation and the cash flow of their practice.? Finding the right Practice Management partner may be of paramount importance to the success of their practice. HCPP is prepared to be their outsource solution.

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