MGMA Connection Magazine (July 2021) – The Leadership Issue
HSG was fortunate to have two separate article published in the July 2021 issue of MGMA Connection: The Leadership Issue. Transforming employed provider networks and measuring patient brand loyalty through patient share of care have been very significant topics of discussion with HSG clients over the past 12-18 months. MGMA completely agreed with us as their audience has continued to ask similar questions, resulting in both topics having their own article for reference in the most recent print publication. Read the full magazine in MGMA’s flipbook online here.
Transforming Your Employed Provider Network: Building a Culturally Cohesive, Strategically Integrated and Financially Sustainable Physician Enterprise
By Travis Ansel, Managing Partner and Dr. Terry McWilliams, Director and Chief Clinical Consultant
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Physician employment continues to be the central physician alignment model for most health systems around the country, with these aggregated networks significantly gaining size and scale over the past 20 years. Many organizations, however, continue to have employed networks that function in silos, largely operating as drivers of volume within the system rather than strategy or value-based performance.
Network transformation to a higher performing state is possible, but requires the proper context, framework, urgency, diligence, commitment and perseverance. Creating a vision for the future state, defining the strategies to achieve it, developing the infrastructure to support and sustain it, and instilling the innate desire to continuously improve performance aligned with organizational goals and objectives is a clear but somewhat arduous transformative journey. Although transformation does not happen overnight, it’s easy to get started.
Patient Share of Care: Measuring Patient Brand Loyalty
By DJ Sullivan, Director
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Patient “share of care” is a revenue-based measurement that gauges the depth of customer relationship and should be a health system’s primary value measurement of patient loyalty and market share capture. Share of care is akin to “share of wallet,” part of the profitability measurement system of every top consumer goods and services brand. In simplest terms, share of care relates to your portion of the expected reimbursement received from your customers/patients on your system’s healthcare services compared to the total they spent on all healthcare services in your market.
Patient share of care should become your organization’s primary value measurement of patient brand loyalty. Its ability to measure how quickly new services gain traction, how integrated your network is and your health system’s lifetime value of a patient will support your patient retention strategy development more than any other metric. Proper measurement, followed by better implementation, will reduce patient leakage and maximize revenue generation for your organization.