Maximizing Profitability in a Private Medical Practice
August 6, 2025
Operating a private medical practice can be both fulfilling and
Services
If your private practice feels like it’s constantly behind—financially, operationally, or even emotionally—you’re not alone. Many providers find themselves under unsustainable pressure, unsure of how to regain control. The good news? You have options.
At TruMediq Consulting, we specialize in helping struggling practices not just survive, but return to profitability, stability, and growth. Whether your challenges stem from falling revenue, operational breakdowns, staffing issues, or patient attrition, we’ll identify the root causes, implement critical fixes, and rebuild your practice into a sustainable, thriving business.
Overview
You may benefit from turnaround consulting if:
At TruMediq Consulting, our mission is to restore the joy of practicing medicine. Our turnaround strategies are built on integrity, compassion, and excellence—ensuring that your practice recovers in a way that aligns with your values and long-term vision.
We start by analyzing your practice—or your vision for one—to create a clear, actionable plan for success.
The right people, systems, and workflows are essential for a thriving practice.
Revenue management and compliance are the backbone of your financial stability.
We help you attract, convert, and retain patients so your practice continues to grow.
• Implement HIPAA, OSHA, and OIG compliance protocols
• Provide staff compliance training with documented certifications
• Set up ongoing quality, safety, and risk management policies
We connect you with the right talent for your specialty, culture, and patient volume—saving you time and reducing costly hiring mistakes.
We create clear, step-by-step SOPs that remove ambiguity, ensure compliance, and maintain consistency in patient care.
Front Desk SOPs:
Every SOP is tailored to your practice—aligned with your EMR system, patient flow, and compliance requirements.
A well-trained team is a confident, compliant, and patient-friendly team. We deliver targeted training to ensure every interaction meets the highest standards.
All training includes scripts, checklists, and role-playing exercises to ensure skills translate into daily practice.
A well-trained team is a confident, compliant, and patient-friendly team. We deliver targeted training to ensure every interaction meets the highest standards.
All training includes scripts, checklists, and role-playing exercises to ensure skills translate into daily practice.
Every turnaround begins with a Practice Health Check—a comprehensive, top-to-bottom assessment of your finances, operations, staffing, and patient flow. We then create a customized recovery plan tailored to your practice’s unique challenges and goals.
Our turnaround consulting services may include:
This service involves a deep dive into your financial data — including patient billing, insurance payments, and payer contracts — to uncover missed income opportunities. Common findings include underpayments from insurance companies, outdated fee schedules, and missed billing codes. By identifying and correcting these issues, your practice can recover revenue that would otherwise remain lost. Additionally, optimizing your fee schedule ensures your charges are competitive and properly aligned with payer allowances.
Here, the focus is on redesigning your internal processes to eliminate inefficiencies. That includes streamlining how patients move through your office — from check-in to check-out — optimizing scheduling systems, reducing administrative delays, and integrating technology to automate repetitive tasks. This results in faster service, shorter wait times, reduced stress for staff, and a better experience for your patients.
This service evaluates the structure and efficiency of your current team. It identifies areas where staff may be overworked, underutilized, or lacking clear leadership. The solution involves reallocating tasks, addressing any toxic workplace dynamics, offering leadership training, and implementing staff engagement and recognition strategies. The goal is to build a stronger, happier team, which reduces turnover and increases productivity.
Many practices lose revenue due to incorrect billing codes, denied claims, or outdated documentation practices. This service involves reviewing and correcting current billing issues, addressing backlog claims, and implementing up-to-date coding standards. It also includes training for your billing team, so errors are minimized moving forward — ensuring that claims are processed faster and payments come in sooner.
This strategy focuses on keeping your current patients while making it easier for new ones to access your services. It involves improving scheduling flexibility, increasing the availability of appointments, enhancing communication through texts, emails, or portals, and ensuring timely follow-ups after visits. By improving the patient experience, satisfaction increases — leading to better reviews, more referrals, and stronger long-term loyalty.
A critical look is taken at all contracts and regular expenses — from medical supplies to IT services to janitorial contracts. Many practices overpay or continue working with vendors that no longer meet their needs. This service involves renegotiating contracts, cutting unnecessary expenses, and consolidating services where possible, all with the aim of improving profitability without compromising quality.
Regulatory compliance is essential to avoid legal and financial penalties. This service ensures your practice is up to date with all federal and state regulations, including HIPAA (patient privacy), OSHA (workplace safety), and payer-specific guidelines. It also includes staff training, policy updates, and implementation of risk management protocols — helping prevent audits, lawsuits, or penalties.
Introducing any new system, team member, or policy can be disruptive if not handled well. This service provides guidance for physician-owners, administrators, and managers as they implement changes within the practice. From leadership coaching to internal communication planning, the goal is to reduce resistance to change, gain staff buy-in, and ensure that improvements are not only implemented but sustained over time.
Conduct a comprehensive diagnostic review of finances, operations, staffing, and patient metrics.
Focus first on high-impact changes that will stabilize your practice quickly.
Put systems, processes, and policies in place to stop the bleeding and restore control.
Build workflows that improve efficiency, reduce stress, and increase profitability.
Provide ongoing advisory support, leadership training, and operational monitoring to ensure sustained improvement.
Startup costs typically range between $40,000 and $100,000+, depending on specialty, location, and services offered. Major investments include:
We provide a detailed budget plan so you know exactly where every dollar is going and how to maximize ROI.
A biotechnology company sought detailed product utilization data, by indication and line of therapy, and commercialization strategy support to help identify opportunities to improve access to its product. We leveraged our in-house claims data to assess the size and utilization patterns of the patient populations of interest, analyzing Part B claims data and translating analytic findings into actionable commercialization strategies (e.g., prioritization of target accounts based on factors such as patient volume, ownership affiliations, and changes in product market share). We developed visuals to convey the results of our analysis, which the client is using to better understand utilization trends and inform its growth strategy.
Offering an integrated suite of healthcare consulting and global policy, access, and value capabilities, we helped an emerging biotechnology company develop a multi-national pricing and commercialization strategy for a drug to treat an ultra-rare neurodegenerative disorder. The client sought our expertise in determining how payers in priority markets would assess the product’s value given clinical trial data (e.g., endpoints and patient groups), product characteristics, and market dynamics in each country of interest (i.e., US, EU, UK, Canada, Australia, and Japan). We reviewed published literature on the indication, conducted a coverage and reimbursement landscape analysis for each of the client’s target markets, and convened advisory board meetings among US and global payers to strengthen the client’s pricing and commercialization strategy.
We conducted primary and secondary market research, qualitative evidence assessments, quantitative conjoint analyses, and in-depth stakeholder interviews to help develop pricing and commercialization strategies for a novel vaccine preparing to launch against a competitor product.
There’s no shame in needing help—the real mistake is waiting too long to ask for it. You built your practice to serve your community. Let us help you save it, strengthen it, and make it thrive again.
Omar advises a range of clients on issues including supply chain, drug pricing, launch strategy, and oncology market analytics and planning.
Omar advises a range of clients on issues including supply chain, drug pricing, launch strategy, and oncology market analytics and planning.
In early 2024, a fourth-year psychiatry resident approached TruMediq Consulting with an ambitious vision: to have his own private ...
In early 2023, a nurse practitioner with five years of hospital experience decided to open her own private practice. Unsure of where ...
In late 2023, a large multi-specialty healthcare organization recognized a growing problem: their existing provider queue assignment ...
Operating a private medical practice can be both fulfilling and
Launching a new medical practice is a major achievement, but
Selecting the right Electronic Health Record (EHR) system is a
We work with physicians, nurse practitioners, physician assistants, mental health providers, and other licensed clinicians across specialties—whether starting a solo practice, group clinic, or telehealth operation.
Yes! We offer complete end-to-end services including business formation, credentialing, EMR setup, billing, staffing, and marketing—so you can launch your practice with confidence and support from day one.
Absolutely. Many of our clients are first-time business owners. We simplify every step, handle all the backend logistics, and teach you how to manage your practice like a pro.
Yes. We assist with entity selection, registration, EIN setup, and help you establish your legal and tax infrastructure properly.
Yes. We handle NPI (Type 1 & Type 2), DEA registration, medical license guidance, and HIPAA compliance setup.
Yes. We credential providers with Medicare, Medicaid, and major commercial payers. We also manage CAQH profiles and follow up on enrollments.
On average, 60–120 days depending on the payer. We start the process early to avoid launch delays.
We support We support all EMR systems including practice Athena, AdvancedMD, Charm, and others, and will help you guide on what is best for your practice. We help you select, configure, and train your team on your preferred platform.
Yes. We set up your billing systems, train on CPT/ICD coding, integrate clearinghouses, and manage revenue cycle setup.
Yes, we can manage your billing and claims processing long-term, with our skilled billing specialists.
Yes. We help set up your accounting system (QuickBooks, etc.), categorize expenses, manage bookkeeping, and create financial reports. Our licensed CPA accountants deliver advanced tax strategies and personalized advisory services designed to maximize savings and support long-term financial growth.
Yes. We integrate platforms like Cherry, Sunbit, or CareCredit for patient financing and payment tracking.
Yes. We create job descriptions, provide recruiting strategies, assist with screening, and help train new hires on systems and workflows.
Absolutely. We develop SOPs for front desk, triage, intake, emergencies, and more—tailored to your practice model.
Yes. We create SEO-optimized websites, logos, and branding packages with online scheduling and patient forms built in.
We implement local SEO strategies, set up Google Business Profiles, manage online listings, and can run paid ads through Google and social media.
We offer ongoing support with KPI dashboards, workflow audits, growth strategies, and system optimizations to ensure long-term success.
Yes. We provide expansion planning, staffing forecasts, infrastructure setup, and marketing support for new sites or telehealth rollouts.
Yes. We assist with practice valuation, preparation for sale, and guidance through partner buy-ins or external acquisition.
Most clients go live within 8–12 weeks, depending on complexity. We move quickly while ensuring nothing is overlooked.
We do the heavy lifting, but your input is key. We offer weekly check-ins, ClickUp task boards, Slack/email support, and a secure client portal to keep you informed and involved.
Yes. We offer flexible payment options for eligible providers. Reach out to our team to discuss your situation.
Your staff is the face of your practice, and your operational systems are its backbone. The right people in the right roles—supported by clear, consistent processes—can mean the difference between a thriving, patient-centered clinic and a disorganized, stressful work environment.
At TruMediq Consulting, we help you recruit, train, and empower your team while building Standard Operating Procedures (SOPs) that keep your operations efficient, compliant, and patient-focused. Whether you’re launching a new practice or looking to improve an existing one, we’ll ensure your people, processes, and workflows work together seamlessly.
A practice with skilled staff and clear processes:
Poor staffing or lack of SOPs, on the other hand, can lead to:
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