The Challenge
Medical groups teeter on the brink of a make-or-break era. Challenges like the onslaught of managed care, pressures to consolidate, and healthcare reform may force many groups over the edge. Survival depends on how well individual medical groups meet these challenges.
Internal challenges are also increasing. Decisions on growth, physician compensation, and long-range plans must be made if success is to be achieved.
These demands are actually opportunities for far-sighted managers and physicians. But dealing with them creates additional stress for professionals who are already pushing the limits of their time and energy.
Some medical groups choose to deal with the difficulties of a changing environment on their own. But many groups recognize that reaching their full potential may hinge on the experience, insight and objectivity of seasoned professionals, such as those at Latham Consulting Group.
Latham Consulting Group
Latham Consulting Group was formed to help medical groups meet the challenges facing their rapidly changing industry. Simply stated, we exist to help medical groups reach their full potential.
Latham Consulting Group has specialized in medical group consulting since 1988. Headquartered in Charlotte, North Carolina, the firm has undertaken consulting assignments with medical groups of all sizes and specialties throughout the country.
Our network of highly skilled and experienced professional consultants work closely with medical group managers and physicians to clarify issues, implement solutions, and improve overall performance for the medical practice.
Latham Consulting Group works by building relationships with clients that are based on mutual trust and our delivery of consistently high-quality services. The most common reasons clients approach us for assistance are to obtain:
- Independent and objective assessments: Clients come to us for an impartial viewpoint on internal challenges, and an independent check or fresh perspective on their external environment.
- Special knowledge and skills: We provide advanced knowledge in our practice areas and implementation skills to help the client achieve desired results.
- Concentrated attention to complex problems: Clients often find it difficult to free enough of their time and staff to solve complex problems. In these cases our services help obtain solutions expeditiously and within their deadlines.
- Objective assistance in resolving highly sensitive issues: We help clients work through sensitive, emotion charged issues such as physician compensation and physician conflict.
Why Choose Latham Consulting Group?
Latham Consulting Group brings a fresh, impartial viewpoint — and sound judgment — to the challenges facing medical groups today.
Latham Consulting Group specializes in providing innovative solutions for medical group practices. We have extensive experience in both the services we offer and with medical groups. This allows us to better understand and serve the unique needs of our clients.
We focus on working with clients to identify individual needs, and then utilize our expertise to help them with the challenges they face.
Our track record is evidence of the skill, professionalism, dedication and business acumen of our consultants.
Working with Latham Consulting Group
Each consulting firm has somewhat different business practices, therefore, we have set ours forth in the following sections.
Initial Consultation
Typically, one of the administrative or physician leaders of the group invites us to consider a problem. The consultant of our firm whose expertise is most applicable to the client situation will respond to the inquiry.
Experience shows that a successful consulting project is built on a clearly defined assessment of the situation. Initial consultations (either by telephone or on-site) seek to establish the nature and extent of problems and determine whether and how we can contribute to their resolution. We only accept assignments where our services will add value and where the assistance required is within our areas of expertise. We always conduct initial consultations in confidence and without obligation.
Specific Proposal
If it is mutually agreed that Latham Consulting Group can contribute to a solution, we prepare a proposal that outlines our understanding of the situation; proposes an approach and detailed tasks; and describes staffing, qualifications, timing and professional fees. The proposal establishes the scope and limits of the assignment for both parties, and guides the project’s course. Whenever possible, we discuss an initial draft of the proposal with the client to confirm our understanding of the problem and the client’s expectations of us.
Project Implementation
Upon completion of our work, we normally prepare a written report of our findings and recommendations. If agreed to as part of our proposal, a briefing presentation to discuss our findings and offer opportunities for questions and answers will be provided.
Because we cannot serve a client under terms or conditions that might impair our objectivity, independence or integrity, we reserve the right to withdraw from the assignment if conditions develop to interfere with the successful completion of the assignment.
Arrangements for Our Services
Professional charges are based on an agreement when the project is begun, and are generally stated as a single sum or tight range of sums for professional fees.
The client always has the right to terminate the assignment on written notice. In such case, the client has no liability for charges beyond those incurred on his or her behalf through the date the termination notice is received by us.
Out-of-pocket expenses incurred on behalf of our clients are billed to the client in addition to professional charges. Under ordinary conditions, these expenses typically range from five to twenty percent of professional charges.
Naturally we will keep fees and expenses to a minimum, consistent with achieving the objectives of the project. Detailed expense records are maintained at our office and may be inspected if desired.
Financial Arrangements
Projects are undertaken under any of several kinds of arrangements.
- “Fixed fees” may be charged where the project and required work can be accurately determined by us in advance. This is the most common type of arrangement.
- “Not-to-exceed” charges are based upon professional time actually spent up to the “not to exceed” limit. Such arrangements are most suitable where the assignment itself can be clearly described but the amount of time required cannot.
- “Phase and Retainer Contracts” are used when the project is long and complex and each phase can be defined only when the preceding phase has been completed, or when there are a number of projects needing attention and a specific level of support is required.
Retainers are customary in all Latham Consulting Group engagements and their terms and conditions are outlined in the original proposal. Retainers serve at a clients authorization for Latham Consulting Group to schedule the project, commit resources on behalf of the client, and commence project implementation.
Staff Effort
Staff are on the client’s premises only when necessary. Staff consultation, writing, analysis and related work will typically be done at the offices of Latham Consulting Group.
Timing
The approximate duration of a project is identified in the initial proposal, and may be from several days to more than a year. Since many engagements include on-going assistance in implementation, the project may be on a continuing basis.
Client Participation
We achieve the best results for clients when their personnel actively participate in the team effort. While the need for client involvement does vary with a project’s sensitivity and other aspects of the project, its value is great on most engagements.
Active client participation exposes our consultants to a range of competing views, increases the consultants’ objectivity, helps ensure that realistic solutions are considered, and increases the likelihood of successful implementation.
We typically rely on client personnel to provide internal statistics and data. Frequently, client team members also participate in data analysis. However, the consultant plans the projects, structures the data gathering and analysis, and develops recommendations.
Implementation
We consider a project successful when our recommendations produce measurable, valuable results for our client. Accordingly, we are available to assist in implementation of our recommendations. In many cases, clients request that we develop implementation plans and manage or monitor the activities.