ORS Painless Surgery Minus the Scalpel

By Barbara R. Fallon Ask Jeffry Finkel What he does for a living and he might describe painless surgical interventions for physician practices. Lest you think he holds the title of Doctor or performs in bloody operating room scrubs, think again. Jeff Finkel is President of Overhead Reduction Services, LLC (ORS). ORS increases practice profits by cutting inappropriate vendor expenses, with no scalpel required. How is this accomplished? By analyzing vendor statements, correcting billing errors, recovering overcharges, negotiating savings, and optimizing services to cut costs and increase staff productivity, ORS negotiates and implements the most appropriate vendor services at the most reasonable rates. Sound like a hefty price tag might attach to these services? Not so, according to Finkel. The ORS fee is a percentage of the actual savings generated. Thus, if there are no savings there will be no fee. Finkel formed ORS 6 years ago while auditing expenses for his physician wife’s practice. His background in telecom sales, marketing, and corporate training provides him with the knowledgebase and disposition essential for this niche business. Outsourcing this type of detail-oriented research, objective review, methodical negotiation and guided implementation frees physicians and staff to focus on patients, daily operations and the practice of medicine, while simultaneously overseeing the business side of the practice. “My work requires patience, persistence, attention to detail, strong negotiation skills, and the ability to identify solutions geared to the specific needs of the practice,” says Finkel. “ORS typically focuses on vendor services such as telecommunications, merchant processing, check acceptance, banking, and shipping services. After careful review and implementation of any recommended changes, the client has only those services they will use, contracted at the most economical pricing,” he summarized. ORS is not commissioned by or affiliated with any vendors. According to Finkel, this independence from vendors focuses his allegiance exclusively on the client practice rather than on selling a particular vendor’s services or products. “If your only tool is a hammer, every problem looks like a nail,” he explained. Instead, he determines the client’s needs, investigates vendor options, and then delivers savings by correcting billing errors, negotiating discounts, aggregating volume, packaging services, and eliminating duplication for a more cost efficient budget. At the completion of the project, each client receives a condensed vendor report. This individualized snapshot of existing vendor contracts details the service functionality, terms of the contract, vendor contacts and phone numbers, and annual costs to assist the practice manager. Since many contracts roll over automatically rather than expire, this report helps the practice manager maintain control of contracts on an annual basis and avoid leaving any money on the table. The initial investment of ORS time is designed to increase staff productivity and practice profitability in both the short and long term. Additionally, as a certified corporate trainer Jeff considers coaching the staff on methods to maximize use of features and services an important cost saving aspect of his work. Often, he can offer ‘softer’ savings by writing job descriptions or procedures and training manuals to improve staff productivity and eliminate the possibility of tasks falling through the cracks. Jeff is available to perform other projects at an hourly rate, as well, such as establishing vendor services for new practices, coordinating office moves and purchasing new services and equipment. If you feel like you need an MBA on top of your MD, watch future issues of Atlanta Hospital News for a monthly column by Jeff Finkel with tips on how to increase your practice profits by cutting expenses. To reach Jeff Finkel, call (404) 995-9112, visit www.OverheadReductionServices.com, or e-mail jeff@overheadreductionservices.com.