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BSM Consultant Enjoys Educating, Helping Clients Succeed
Wednesday, February 20, 2019 9:00 AM
From a young age, Andrew Maller always had a passion for education — he planned to be a school teacher, with dreams of eventually becoming a principal. While he did not become a teacher in the traditional sense, Andrew channels his love for education into his work as a BSM consultant by advising clients on practice management matters. Specifically, Andrew educates clients on how to successfully manage medical practice finances, including proper benchmarking and dashboard reporting, practice valuation, and strategic planning.
To learn more about what Andrew does, we asked him a few questions regarding his work at BSM. Read his insightful answers below.
What do you like most about consulting?
The best part about consulting is the feeling I get after helping a client reach an educated and disciplined decision when faced with a difficult situation. As a consultant, my role is to arm the client with information (in an easily comprehensible format) necessary to make tough decisions. The feeling of successfully helping a client meet practice goals never gets old!
What recent projects are you working on with clients? Have you noticed any emerging trends regarding client needs? If so, what are they?
Over the past year, the majority of projects I’ve been working on entail assisting with transaction-related support. In most cases, these clients are considering partnering with an investor such as a private equity (PE) firm. Even if practices are not considering this option, changes in the marketplace — namely emerging trends related to consolidation — have forced many of my clients to think about their succession plan. Generally, this includes practice acquisitions, mergers, and new partner buy-ins.
The other major trend I continue to see is practices looking to better manage their business by using their data more efficiently. This includes data related to physician productivity, operating efficiency, staffing levels, revenue cycle management, and so on. Most of this data stems from unwieldy reports out of accounting, payroll, or practice management systems. Due to this, I spend a lot of time creating customized reports for clients that enable physicians and administrators to easily interpret how they are doing in the above areas. Many of these tools eventually wind up as templates on BSM Connection® for Ophthalmology for members to benefit from.
How do your day-to-day duties change?
On any given day, I am regularly interacting with at least five to 10 clients on various projects, which involves regular correspondence via email and phone, as well as frequent trips to visit clients all over the country. This is in addition to the work I do on internal BSM projects, which are focused on improving the quality of our service offerings. Since each day is unique, it’s difficult for me to give an example of what “normal” looks like — but I greatly enjoy my work as a consultant and being part of the BSM family!
Reflecting on the many clients you’ve worked with, do you have any practical advice for practices based on your experience?
When I contemplate the most successful practices I work with, one factor that stands out is the impact a sound strategic plan and vision can have on a company. The health care industry can be extremely complex, and when practices choose to proactively plan for foreseen challenges — as opposed to just reacting to the “fire drill” of the day — the likelihood of long-term success increases exponentially.
Achieving this level of discipline does not happen without great leadership at the physician and administration levels. When leaders of the practice are committed to the same vision, the business can grow and achieve long-term success. I truly believe that the key to any great organization is a foundation of good leadership.
What motivates you to succeed?
At our company, we try to live by “The BSM Way.” While this mantra means something different to each staff member, to me it means always striving to meet and exceed the expectations of my colleagues and clients — my internal and external customers, respectively.
Something else that motivates me to succeed is following the examples set by my colleagues each day. I am beyond blessed to be part of a consulting team and company where everyone strives to provide the best possible experience for our clients. It’s truly a collaborative environment with unlimited potential for growth.
YOUR TURN: Do you have a question for Andrew? If so, please leave your inquiry in the comment section below.