CEO of Medical Practice Success
“Striving towards Perfection”
Stacy Calvaruso, CEO, Medical Practice Success, has an unmatched knowledge of the healthcare industry. Coupled with her ability to act and react to circumstances in this industry, it makes it extremely impressive. Stacy has been christened as a visionary with a non-stop, go-getter drive. She is very proactive in developing leaders with a particular focus on the predominantly female staff who largely are not college educated and lack stronger female role models. Stacy strives to look for opportunities to encourage, develop and promote the underlying talents of the women who may start at entry-level but show a desire and aptitude to grow.
“Medical Practice Success provides educational resources and training events on the business side of running a Medical Practice. Resources include a weekly publication, multiple training materials, e-books, the on-line urgent care academy, a mastermind program, and the Success Board.”
According to Stacy, if one wants to be a leader and inspire people, then they must be willing to invest in their craft – whatever that may be. “If you want to be an Accountant, then you must live and eat Accounting principles and the same goes for being a CEO of an organization. You don’t always have to know the exact step by step process of every single workflow, but you should definitely have a good understanding of how each task compliments the other to ensure your operational goals are being met.” She adds, “On top of this, you will need to be able to communicate well. Often this is what make a difference in how a relationship is formed. If someone can connect with you emotionally because you have a good foundation of communication, then it will be a lot easier on both parties when the time comes for those difficult conversations. If your goal is to be a mentor, I find that sometimes it is best to spend the better part of your time mentoring someone by just being present with them when they come to you for advice or guidance.” Stacy is not always about telling people what to do, and sometimes it is more about letting them work through a problem or situation with an attentive ear or a small prompt—the best gift of encouragement. Armed with these principles, the steadfast leader has been taking the company to new heights.
Originally Medical Practice Success was created to meet the demands of Stacy’s partner, Dr. Timothy Reynolds business need. He owns multiple Urgent Care facilities, and there was no medical billing service organization that could provide the specialized services they needed, so he decided to create his own. After being opened a few years, some fellow medical providers asked him to do the billing and collections for their organizations, and thus, a billing and collections company was born. “We have now grown this organization into a full Revenue Cycle Management and Consulting organization that can aid a client from inception to actual patient services being provided all thanks to Stacy.”
Last year, pre-COVID, Dr. Ashwin Shetty, an Emergency Medicine physician in Washington, contacted Stacy and her team because he wanted to open an Urgent Care center in his local community. “We assisted him with developing financial pro-forma’s, financing packages, acquiring the site, developing relationships with vendors/suppliers, setting up his EMR, acquiring Managed Care contracts with payors, and assisting with their go-live,” she explains. “This process took many months of steady work to complete even with all the delays related to shutdowns because of COVID. His organization was one of three that we were working on to open pre-Covid and we were able to keep all three projects moving forward and they all successfully opened their doors and are taking care of their community members medical needs.”
One can say that the current landscape of medical billing and collections post COVID is very frustrating for all – patients, providers, payors, etc. Medical claims are being denied by payors incorrectly, patients are being billed for items they thought would be covered, and providers are being slandered in social media for unfair billing practices often due to payor errors. “Our organization has been focusing on Claim Denial Audits and Payor Claim Payment Audits to assist with identifying root causes of errors and issues,” says Stacy. “We intend to continue to drill down into these types of services to ensure that providers are paid for their services fairly and patients are only responsible to pay their portions as defined based on their insurance coverage.”IE
CEO of Medical Practice Success
Medical Practice Success provides educational resources and training events on the business side of running a Medical Practice. Resources include a weekly publication, multiple training materials, e-books, the on-line urgent care academy, a mastermind program, and the Success Board.