Navigating Nephrology Practice Management with Antone Crasto of Tower Physician Solutions
In a recent Nephrology Today Podcast, Antone Crasto, the CEO of Tower Physician Solutions and the Vice President of Strategy and Development at NANI (Nephrology Associates of Northern Illinois) discusses practice management. Antone also serves as a board member for the National Kidney Foundation. In this conversation, Antone shares insights into the challenges and evolving landscape of nephrology practice management, along with how Tower Physician Solutions is helping practices stay efficient and sustainable.
The Challenges Nephrology Practices Face
As Antone explains, nephrology practices today grapple with a range of challenges, from staffing and turnover to process and workflow issues. "Staffing challenges are common, both in turnover and training needs. Process gaps and revenue cycle auditing also demand attention, and efficient workflows are crucial," he says.
To address these, Tower Physician Solutions offers consultation services that focus on identifying and addressing the specific needs of each practice. "We assess staff training gaps and create tailored programs to bridge those needs. For workflow and revenue cycle improvements, an initial assessment allows us to observe and recommend enhancements based on the practice's unique dynamics," he adds.
The Shifting Landscape of Practice Management
Nephrology practice management is rapidly evolving, and this change has been particularly apparent at the executive level. Antone highlights that many large practices have experienced executive turnover, which often leads them to seek interim management solutions or adapt by establishing practice management processes.
"Replacing staff isn't always the only or best answer. We recommend practices take a deep look at their essential needs before hiring replacements," he suggests. Tower works with practices through this process, guiding them to develop sustainable management strategies rather than relying solely on new hires.
What to Expect from a Consultation with Tower
A typical consultation with Tower Physician Solutions is designed to be thorough and insightful. "Our team of professionals meets with department heads to identify areas for improvement, such as workflow, revenue cycle management, and personnel use," says Antone. After this assessment, Tower provides a comprehensive report with detailed findings and tailored recommendations for the practice's executive team.
Key Metrics for Nephrology Practice Success
For nephrology practices to remain financially healthy, monitoring key performance indicators (KPIs) is essential. Antone emphasizes the importance of metrics like coding accuracy, charge capture, and the timely processing of charges. "These elements are critical to ensuring the practice can support its operations, staff, and patient care," he explains.
Having a consultancy firm like Tower helps practices better understand the impact of these metrics on their overall performance. "Sometimes, an external perspective helps staff and physicians recognize improvement opportunities, whether it's in coding or how staff members are allocated to office tasks," he notes.
Emerging Trends and Technologies in Nephrology Practice Management
Looking to the future, Antone identifies value-based care as a trend that is reshaping nephrology. He advises practices to engage with value-based care vendors, like Strive Health, to better adapt to this new healthcare model. "As fee-for-service becomes a thing of the past, practices need to embrace and thrive in a value-based environment," he says.
He also points to strategic opportunities for growth, such as partnerships with companies like NANI, which offer solutions for practices looking to better position themselves in the evolving market. "Practices should ask questions, explore new models, and prepare to make changes that align with these trends," Antone encourages.
As nephrology practices look to adapt and grow, mergers and private equity opportunities are becoming more prevalent. However, Antone advises caution, stressing that while these options can increase competitiveness, they must be approached strategically. "Tower can help practices evaluate these options and find the best path forward," he adds.
Thank you to Antone Crasto for sharing his expertise on nephrology practice management. To learn more, visit http://towerps.com and tune in to Nephrology Today on Spotify for future episodes. We look forward to continuing the conversation and bringing you more insights into nephrology practice management.
Learn more at: https://towerps.com