Whether you work for a skilled nursing center, nursing home, assisted living facility or short-term rehabilitation center, management of a healthcare organization requires a wide spectrum of skills to achieve and maintain a strong bottom line. The fiscal pressures facing nursing facilities continue to rise; Landmark Management Solutions has the financial expertise to help you put the pieces together to prosper in the current marketplace. Our team can assist you with all aspects of financial management such as: evaluation of internal and external forces; immediate turnaround, or long-range financial planning.
Operations and Financial Management
The LMS team of highly qualified long-term care professionals analyzes and assesses the integrity and effectiveness of systems within your organization. LMS reviews individual department functions, staffing models, contractual arrangements, documentation systems as well as communication and interdisciplinary effectiveness. The operations analysis includes a thorough review of:
Financial results
Survey preparation and measurement of clinical outcomes
Expense management
Actual staffing and benefit costs
Business office operations
Census data and management
Current contracts for supplies and equipment
Outsourcing of services
Clinical Reimbursement Results
Based upon the data provided by the client, LMS compares the facility to best-practices for the region to determine short and long-term operational improvements.
Financial Management Services
LMS provides organizations with the systems and expertise to address the constantly changing demands from federal and state health care regulators, the Internal Revenue Service, third-party payers and stockholders. The LMS team provides extensive financial consulting services related to:
Long-range planning
Information and accounting system management
All aspects of reimbursement from Medicare, Medicaid and private insurance companies
Budgeting and cash projections
Financial statement preparation
Revenue enhancement
Current contracts for supplies and equipment
Analysis of payment rates, payor mix and accounts receivable
PPS maximization and the interface with clinical documentation of care
Preparation and implementation action plans for:
Billing accuracy
Collections
Accounting
Accounts payable
Employee payroll
Management Reporting
Financial Feasibility
LMS can serve as an independent, unbiased resource to analyze the potential viability of new ventures, programs or services. In contrast to other consulting firms that may provide only a portion of the necessary analysis, LMS can provide you with all steps of the feasibility process including:
Inventory of and assessment of competitors' programs and services
Estimate of demand in the service area for programs based on census projections, household income data and age-adjusted disease prevalence rates
In-depth assessment of construction costs
Financing and capitalization
Communication with municipal and state government agencies
Staffing requirements
Revenue and operating expense analysis
Cash flow and debt capacity
Landmark has successfully assisted organizations in new facility construction, expansion of services and project design.
Financial Planning, Analysis and Bench-marking
LMS financial consultants have assisted facilities with short-term projects as well as comprehensive financial planning to address:
Improving income generation
Reducing expenses to meet standards for best practices
Maximizing return on investment
Building budgets designed to achieve the specific goals of the organization
Developing financial standards for benchmarking
Short and long-term profitability objectives
Evaluating merger and acquisition opportunities