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Aligned Compensation: Excerpts from “67 Tips for Developing a High-Performing Physician Network”
Physician compensation is the largest cost in the practice. It must be used to align physician behavior with the actions needed to make the system successful. Controlling that evolution over time is and will remain a challenge, and requires active management and physician involvement. Tip 60: Compensation plans must reinforce the results required for success.…
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HFMA’s Final Report on Rethinking Physician Strategies in a World of Value-Based Care
About the HFMA Report on Value-Focused Physician Strategies In February 2014, Healthcare Strategy Group became the sponsor of Healthcare Financial Management Association’s (HFMA’s) Value Project Phase 3: Rethinking Physician Strategies in a World of Value-Based Care. The project was designed to answer: HFMA’s Director of Healthcare Finance Policy, Perspectives and Analysis, James Landman, J.D., Ph.D.,…
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How Many Primary Care Physicians Do You Really Need?
Executing a primary care strategy that provides the right number of primary care providers is critical to the success of your employed provider network. Traditional physician manpower planning models are often used to assess primary care demand. These models are based on population ratios and can provide effective information regarding the right number of primary…
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Quality Measures for Primary Care Physicians
With healthcare reform and the move to value-based reimbursement from both governmental and non-governmental payers, health systems across the country have been shifting their employed physician compensation models from purely production-based to a combination of productivity and quality incentives. Standardized quality measurements have developed over the past 25 years through accreditation entities such as National…
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The Key to Population Health Management for Hospitals: Concentrate on Super Utilizers
The most logical place to begin Population Health Management in any setting is by honing in on an organization’s sickest patients. According to the Agency for Healthcare Research & Quality (AHRQ), five percent of the population accounts for roughly half of all healthcare costs. These “super utilizers”, or “frequent flyers”, are admitted to the hospital…
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Webinar: Five Tactics to Juggle Fee-for-Service and Fee-for-Value
CEOs and other executives consistently ask us three questions: How do we time the transition from a fee-for-service to a fee-for-value world, and ensure financial stability through that transition? How do we get value from our investment in physician practices and leverage those for our benefit? How do we improve our Medicare profitability? Fortunately, the…
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Leveraging Your Employed Physician Group for Payment Reform Success
Reimbursement for healthcare providers is continuing to shift towards increased incentives for quality outcomes and cost management, as insurers (particularly CMS) focus on reducing fee-for-service payments and increasing the amount of risk taken on by providers. As examples of this, recently, we have seen CMS release its regulations for Value-Based Care Organizations (ACOs), which will…
