If you survey any segment of health care today, you’ll find some uncertainty at every stop due to regulations and reimbursements. The independent physician market is no different, with many physicians finding themselves at a crossroads with respect to the future, trying to choose the right path to maintain a viable practice while still providing superior patient care.
I’ve found in my many years working in this physician space that there’s more than one way to get from point A to point B. What’s important to note is that the market has solutions for the many different paths you may decide to take.
Whether you are operating a solo physician practice or participating in a large multispecialty group practice, you undoubtedly got into the business of practicing medicine to ensure that your patients would get the best care possible. But the expanding scope of regulatory and reporting requirements, combined with changes in the ways health care is delivered and financed, makes it harder for you to stay focused on this goal.
Technology has opened the door to help you effectively manage population health and improve patient service, but it also adds a whole layer of complexity and expense to practice operations.
One path to consider is (PDF, 65 KB) that aggregates a number of high-quality physicians to operate more efficiently and effectively together. You may choose to aggregate because you need the economies of scale and infrastructure that only a larger organization can bring. Or you may want to be positioned for value-based reimbursement, become an ACO and successfully manage health care risk. Or all of the above.
Regardless of your reasons, your goal is the same – sustainable financial and clinical success. By deploying technology and utilizing analytics and data, a physician network can drive more effective care at a bigger scale and a lower price point.
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