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Educational Session: Cutting Losses and Employed Physician Network Management
Many challenges have emerged with the growth of physician employment by health systems. Due to mismatches in supply and demand, inadequate management infrastructure and the willingness of hospitals to invest capital in practices, losses on employed physician networks have steadily risen, to the point of beginning to threaten hospital bottom lines. Most health systems still don’t have the physician network management capabilities or sophistication of understanding the root causes of the losses within their networks, which is the first step required for taking action. In this pre-recorded educational session, viewers will discover how proper benchmarking of network operations can reveal several factors that could be improved to mitigate those losses.
This physician network management educational session will provide your team with the knowledge to:
- Break down the factors contributing to subsidies for employed provider networks
- Prepare an appropriate subsidy target based on benchmark data
- Outline a prioritized performance improvement plan
Related Content on Physician Network Management and Cutting Losses
HSG was published by MGMA’s Connection Magazine in December 2019 on a similar topic. The article outlines the importance of setting improvement targets, discusses the key drivers of revenue and expense within an employed physician networks, and dives into the critical nature engaging your physicians in defining actions plans for successful execution of cutting network losses.
The article also outlines six core physician network management lessons that should baked into your process. 6 lessons include:
- Understanding benchmark data
- Using data and organizational imperatives to set dollar saving objectives
- Analyzing data to identify rooty causes of problems
- Verifying data insights with “boots on the ground” reviews
- Building action plans with an eye toward objectives and improvements needed to achieve targets
- Ensure adequate management resources are dedicated to implement the plan
Read the full article on MGMA’s website below.