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National Cardiovascular Partners Value Added Services

National Cardiovascular Partners creates, sustains and grows independent, outpatient cardiac catheterization and vascular labs in unique business partnerships with physician entrepreneurs. In addition, National Cardiovascular Partners provides management services and development services. Please find more information about each value added service below. 

Management Services

MANAGEMENT OVERSIGHT

  • General and administrative supervision and oversight
  • Personnel administration         
  • Preparation of annual operating and capital budget
  • Personnel benefits administration
  • Managing and arranging for the maintaining of liability and malpractice insurance
  • Licensing and certification
  • Negotiation of HMO/PPO contracts
  • Participate in the development of utilization review, risk management and quality assurance policies and procedures
  • Physician recruiting
  • Maintaining compliance with all State and Federal regulations
  • Directing the general activities of management in a manner consistent with governing policies, procedures and guidelines
  • Regular monitoring of the activities and performance of the cath lab
  • Training and education for management
  • Establishment of policies, procedures, guidelines and directives for the effective management of the Joint Venture and the cath lab
  • Participation in the evaluation of management
  • Recommendation regarding the employment and compensation of management
  • Recommendation of incentive compensation plans for management, including the senior management of the cath lab

OPERATIONS SUPPORT

Financial Operations support to include:

  • Consulting and support for patient accounting and receivables management
  • Process improvement
  • Business office operations
  • Medical staff programs
  • Productivity enhancement
  • Management reporting systems

Capital Management support to include:

  • Pro forma modeling
  • Return on investment calculations
  • Benchmarking
  • Assumption testing

FINANCE AND ACCOUNTING

Corporate Finance – Treasury support to include:

  • Centralized cash management system
  • Access to capital at competitive market rates and terms
  • Manage commercial bank relations
  • Maintain all bank accounts
  • Provide investment management for employee benefit plans
  • Manage the Partnership’s/Joint Venture’s debt and outside interest expense related to the cath lab
  • Consult on all financial transactions relating to the cath lab

Corporate Finance – Tax support to include:

  • Preparing and filing the cath lab’s federal and state income tax returns
  • Review property valuation notices
  • Coordinate audits and appeals of all taxes

Corporate Finance – Accounting support to include:

  • General accounting
  • Arrange external financial audits
  • Arrange internal financial audits

Corporate Finance – Insurance support to include:

  • Make insurance products available to the partnership at competitive market rates
  • Provide consulting services to the partnership/joint venture with respect to risk management

Financial Planning support to include:

  • Analysis of current trends in the healthcare industry
  • Aid in setting financial goals and preparing budgets

HUMAN RESOURCES

Employee Relations to include:

  • Consult on compliance with law and establishment of fair practices in relationship to the rest of the healthcare industry
  • Consult on collective bargaining issues, Employee Retirement Income Security Act (“ERISA”), affirmative action, employee grievances, and other employee relations issues

Compensation and Benefits to include:

  • Implement competitive pay practices within industry norms
  • Assist in development of incentive compensation plans
  • Provide and implement standard employee benefit packages that are competitive with the rest of the healthcare industry and in compliance with ERISA

INVESTOR/PARTNERSHIP RELATIONS

  • Responsible for preparing, submitting for approval and execution, and filing with the state agencies all necessary reports and documents relating to the issuance of partnership/joint ventures interests

Development Services

Developer shall provide all organizational, feasibility, and syndication services necessary to evaluate the viability of the cath lab in accordance with the Agreement including:

ORGANIZATIONAL DEVELOPMENT SERVICES

  • Prepare a feasibility study and due diligence
  • Help identify potential physician investors and gain their commitment to participate
  • Review project data: procedural volumes, payor mix, and specialty mix of the cardiologists, surgeons and other physicians in the market
  • Assess secondary service area market players
  • Complete capitalization and operating assumptions
  • Prepare five-year financial forecast (including balance sheet, loan amortization, and return-on-investment analysis)
  • Update financial forecast as project assumptions change
  • Prepare a term sheet outlining the proposed organizational structure and identifying critical issues
  • Provision of offering memorandum at partnership expense
  • Assistance in the presentation of the opportunity to physicians
  • Management and coordination of the entire syndication and organizational process
  • The appointment of physicians to serve as the Governing Board Chair and Medical Director and to provide oversight of the cath lab.

CATH LAB DEVELOPMENT SERVICES PLANNING

  • Space selection and lease negotiation
  • Manage and coordinate all planning of the center, its facility and services offered
  • Review plans for the center in relation to the mix of physician investors and the case mix of the community
  • Discuss/seek input on the scope of services with key physician investors
  • Define the scope of the project in consultation with the parties, to include the number of cath labs, type of equipment, overnight stay capabilities and ancillary services to be provided
  • Define support services to be provided at the center versus contracted from the outside
  • Define any equipment and supplies contracts that will be used by the partnership 

CONSTRUCTION SERVICES

Developer shall provide all services necessary to oversee and manage the design and operation of the cardiac cath center in accordance with the agreement including:

  • Identify/review architects and recommend architect for the project
  • Negotiate contract, on behalf of the partnership, with the architect
  • Work with architect and the parties in the design of the project
  • Within project/architectural guidelines for the project, identify/review contractors and recommend contractor for the project
  • Seek contractor’s bid and timetable for completion of defined project
  • Develop equipment and instrument list, along with the capital budget
  • Determine the need for financing and interface with financing sources as needed
  • Finalize construction schedule and budget
  • Develop controls and reporting accountability
  • Review, approve and coordinate mechanisms for payment of invoices
  • Report construction progress through receipt of occupancy permit with focus on quality, schedule and budget
  • Facilitate regular meetings and communications with the project team
  • Manage the schedule to coordinate interior design services, furniture and art work selection and installation
  • Order long lead-time capital equipment
  • Order the remaining equipment/instruments and appropriate furnishings
  • Oversee equipment, furniture and fixtures installation
  • Participate in the final inspection to ensure construction meets construction document requirements and is acceptable for cath lab operations

PRE OPENING SERVICES

Manager shall provide all services necessary prior to the opening of the cardiac cath center including:

  • Prepare and submit all Medicare applications to obtain a Medicare provider number for the center.
  • Negotiate contracts for outsourced services from third parties
  • Recruit and hire Clinical Director, Clinical Manager, Business Office Manager and other key clinical and administrative managers
  • Work with the parties to appoint a Medical Director and establish all required committees with applicable by-laws
  • In conjunction with key managers define personnel staffing levels, identify personnel, interview and assist in the selection process
  • Define appropriate salary and benefit levels, identify health/benefit sources and seek proposals for defined personnel benefits
  • Develop policies and procedures for clinical and administrative functions in consultation with the Parties
  • Produce all required manuals to include administrative policy and procedures, clinical policy and procedures, internal disaster plan, fee schedules and quality improvement programs in anticipation of JCAHO Accreditation
  • Identify key third party payors
  • Hold payor negotiation meetings
  • Finalize contracts
  • Coordinate cath lab compliance with regulatory and accreditation requirements through the architectural and law firms, and coordinate readiness for surveys
  • Provide Medicare provider number to other payors after issue
  • Review and select the required computer software and hardware systems for administrative and clinical functions
  • Oversee the installation and any required training of the software system
  • Define inventory requirements, stock levels and physician preference cards
  • Procure initial supplies to meet above criteria
  • Develop and initiate the center’s medical and clinical staff credentialing system
  • Establish the required banking, insurance, accounting and other administrative functions
  • Obtain CLIA license and state pharmacy license
  • Obtain DEA license
I'm very impressed with the services and expertise that National Cardiovascular Partners brings to the table.