Coker Group, a national healthcare advisory firm, works with hospitals and physician groups to develop customized solutions in five main service areas: Strategy, Operations, Finance, Technology, and Compliance. Our mission is to customize an approach for each client that ensures strategic differentiation in the marketplace and the achievement of every goal across all performance areas. Through principled professional consulting, Coker Group assists healthcare providers in their pursuit of a sound business model and an enhanced patient experience. Coker Group’s advisors have the experience and creativity to find the right solution for any market and healthcare entity.
Compensation Strategy and Design
Coker’s Financial Services team has more than 30 years of experience developing compensation strategies for healthcare organizations’ physicians and advanced practice providers (APPs) that reflect their particular market dynamics. We work collaboratively with key stakeholders to develop a compensation strategy that allows for recruitment and retention, responds to the changing reimbursement paradigm, addresses provider concerns, and fits with its mission, vision, and values. We have been a trusted partner to entities and the attorneys advising them.
Coker can develop new compensation models or revise existing compensation plans to assist health systems, hospitals, and physician practices in creating effective compensation strategies. The provisions can be for both currently employed providers and providers who are joining the employed network. We also have expertise in compensation design for academic practices and institutional structures for faculty plans.
Valuation
Coker has valuation expertise in a broad array of situations where remuneration changes hands between physicians and referring entities. We use sound quantitative market data to serve as the foundation for any analysis, then apply our knowledge of the particular situation’s specific dynamics, coupled with our healthcare industry and valuation expertise, to formulate our conclusions. Coker’s findings and recommendations assist organizations as they strive for compliance in today’s evolving healthcare market.
Compliance
Compliance programs are mandatory for healthcare organizations and physician practices, and the cost of non-compliance is high. It includes recoupment of overpayments, self-disclosures, fines, penalties, reputational harm, negative publicity, exclusion from Medicare/Medicaid, and potential individual liability. Coker’s compliance team members include registered nurses and are available to help your organization develop an individualized, meaningful compliance program and help you operationalize the program within your environment.
Technology
The healthcare information technology industry has grown dramatically over the years. The pace of introducing new IT systems and technologies, such as EMRs, clinical workflow engines, data analytics tools and population health, mobile applications and devices, IT interoperability, and cybersecurity prevention is mindboggling. These IT systems and technologies promise to help healthcare organizations address the myriad business and clinical challenges they face, including improving quality and customer service, reducing cost, transitioning from volume to value-based care, managing population health, and fighting cybercrime. Many health systems, community hospitals, and physician practices across the country are confused with all the IT options as they try to navigate healthcare challenges and uncertainties today.
Operational Improvement
We understand our clients’ unique circumstances and objectives, partnering to identify critical issues and implement sustainable results. We leverage analytical and operational expertise to add value as objective advisors, outsourced support, or shoulder-to-shoulder teammates.
Our goal is to improve physician practice financial and operational performance. Our approach and objectives are to increase patient access and satisfaction, strengthen provider alignment and engagement, evaluate ad execute practice acquisitions and integration, and enhance organizational structure and strategy.