Tools & Tips | Value-Based Payment

A Closer Look at a Medical Group’s Strategic Options

Sponsored by Healthcare Strategy Group
Tools & Tips | Value-Based Payment

A Closer Look at a Medical Group’s Strategic Options

The independent medical group has several options regarding its future strategy. 

The independent medical group has several options regarding its future strategy. Indeed, many groups pursue more than one strategy at once.
Here is an example of a single specialty orthopedic group’s strategy: 

  • Merge with a (formerly) competing orthopedic group. Rationale: cover more geography, enable the group to support a sports medicine practice, enable the group to have its own rehabilitation group, support more hospitals more effectively, support a stronger professional management team, and support additional orthopedic sub-specialization.
  • Initiate a bundled payment initiative. Rationale: learn (along with a partner health system) to manage all elements of the care process in a value-based payment environment, and gain additional revenues once successful.
  • Integrate IT approaches with as much as possible of the referral base (including EHR, decision-support, and other elements). Rationale: an essential step in accomplishing the other elements of the group’s strategy, with the potential to reduce the group’s total IT costs.
  • Provide leadership in developing a CIN. Rationale: expand and shore up key parts of the group’s referral network, lead the development of an integrated approach to care management for the group’s patients (including total joints, trauma, and other areas), influence the development of the CIN’s funds flow and compensation models, and influence the alliances and other relationships developed by the CIN.

Together, the orthopedic group’s strategies seek to make the transition from fee-for-service to value-based payments, to enhance short-term revenues and market position, and to make the group more successful in recruiting.

Next Page               Home               Previous Page

Advertisements

Related Articles | Value-Based Payment

Blog | Value-Based Payment

Analysis: More options for providers looking to directly contract with employers for episodes of care

Platforms like Carrum Health’s are meeting the demands of employers for higher-value care and the providers who want to meet these demands.

News | Healthcare Reform

Dec. 9-13: Hearing on proposals to expand government insurance coverage is among upcoming healthcare finance events

A complete listing of healthcare finance-related hearings, conferences, webinars, public forums and deadlines for the week of Dec. 9.

News | Health Plan Payment and Reimbursement

Upside-only pay surges as risk-based pay, clinical results remain flat, scorecard finds

Bonus-based value payment models have proliferated among employer health plans, while risk-based payment and performance on clinical quality indicators have not changed significantly, according to a recently published scorecard.

News | Physician Payment and Reimbursement

Medicare reopens deadline for providers to signal interest in direct contracting

Primary care physicians will have another chance to apply and participate in the delayed Direct Contracting model with Medicare.