Services

Banking and Other Financing

  • Obtain working capital lines and other types of lending with many well-established banks
  • Oversee daily activity of bank accounts including funding, transfers and reconciliation of bank statements
  • Provide deposit reports of revenue received within each bank account

Accounting

  • Process and post all activity into accounting software including but not limited to: bank receipts, payroll activity, accounts payable activity, fixed assets and depreciation
  • Generate monthly financial statements and other periodic reporting for review with each practice
  • Calculate monthly/quarterly sales tax filing for product sales
  • Reconcile monthly banking statements to accounting ledger
  • Calculate fixed asset depreciation
  • Provide internally prepared financial statements for 3rd party tax accountants

Accounts Payable

  • Process and pay all incoming bills, credit cards and invoices
  • Administer and track accounts payable through online approval process
  • Manage employee expense report submissions and reimbursements
  • Ensure and track proper documentation for all expenses
  • Process refunds for patient and commercial insurance overpayments
  • Field all incoming questions (from practices and vendors) related to accounts payable

Insurance Credentialing

  • Handle insurance contracts and credentialing for both practices and practitioners
  • Improved insurance reimbursement rates, which should continue to improve with further IDG growth

Compliance

  • Health Care Clinic Licensing (per state requirement where applicable)
    • Complete all applications for both initial licensure and renewals
  • Clinical Laboratory Licensing (per state and Federal requirements where applicable)
    • Complete all applications for both initial licensure and renewals
    • Provide required operating manuals
    • Conduct internal audits to test for compliance and provide guidance for site audits
  • Provide resources to assist each practice with occupational compliance (i.e. HIPPA, OSHA, personnel)

Human Resources

  • Payroll processing
    • Secure discounted processing rates with national payroll processor
    • Provide centralized payroll processing and reconciliation of activity
    • Track and reconcile accrued employee Paid Time Off
    • Track employee benefits eligibility
  • 401K and Pension Administration
    • Manage employee 401K enrollment
    • Provide access to 3rd party professional retirement planners
    • Prepare and process appropriate filing requirements
  • Worker’s Compensation
    • Provide advice in the preparation of audits
  • Unemployment Administration
    • Prepare responses to unemployment requests
    • Provide support and guidance to each practice for unemployment hearings
  • Health Insurance and Supplemental Benefit Insurances
    • Negotiate annual renewal of benefits
    • Administer employee insurance benefits
    • Reconciliation of employee paid versus practice paid benefits
  • Provide assistance with hiring and terminating employees
    • Assist in the recruitment of new employees by placing ads and conducting telephone interviews when requested
    • Provide required new employee hiring forms
    • Provide Employee Manual
    • Process appropriate background search for new hires
    • Ensure removal of former employees from payroll and benefit programs after termination

Vendor Relationships

  • Secure pricing discounts (i.e., medical supplies, medical waste removal, mailing services)
  • Negotiate vendor contracts for reduced costs
  • Leverage purchasing power for deeper discounts as IDG expands

Legal

  • Assist in handling or advising on legal issues
  • Established relationships with 3rd party healthcare and litigation counsel
  • Provide support with outside legal representation secured by practice

Business and Malpractice Insurance

  • Established relationships with insurance brokers for business and malpractice needs
  • Assist in securing any type of business insurance and malpractice insurance
  • Administer annual insurance renewals

Experienced Business Advisors and Partners

  • Established relationships with banks/lenders, business insurance providers, accountants, tax specialists and vendors
  • Proven experience with best practices for dermatology practices
  • Established relationships with dermatology community

eDerm Practice Management System

  • Free use of the Practice Management System
  • Third party fees will be the responsibility of the practice (clearinghouse, ePrescription, insurance verification)
  • 20% discount on monthly subscription fees for EHR

MOHS Set-Up

  • Assist in securing practice equipment needs (consumables, surgical instruments and cryostat)
  • Provide required compliance obligations (preparation of documents including State and Federal application filings)
  • Provide appropriate manuals and telephone support