3 Physician Strategies To Improve Performance In 2022
Posted Oct 27, 2021 from beckershospitalreview.com
A physician’s impact on financial operations, patient care and an organization’s culture make physician alignment critical for any healthcare organization to succeed.
The current changes in reimbursement and care delivery models, along with increased physician burn out make it a critical time to reevaluate your physician strategy. Healthcare leaders should consider the following initiatives to maximize their physician partnerships.
#1 - Optimize Reimbursement
Physicians can impact reimbursement at the hospital or health system level, in addition to their individual practice. New risk-based reimbursement models are providing opportunities for significant increases if an organization can master lowering costs while maintaining quality, and physician participation is instrumental to success. Therefore, it is important to think about your physician arrangements when reviewing your risk-based contracts and other physician agreements with payors. Specifically, leaders should consider implementing contractual arrangements that align physicians with the specific value-based goals included in payor contracts, such as relevant quality metrics and adherence to care coordination processes. Lastly, this may be an opportune time to renegotiate commercial contracts with value-based goals in mind. VMG Health, a valuation and strategic advisory firm, has observed a new focus on payor contract analysis, including a fresh look at hospital-based medicine arrangements.