Healthcare Reform
There is great uncertainty as to the full impact of healthcare reform, yet a few truths are emerging. Payment reform is inevitable. The fee for service model has proven to be unsustainable and new payment methodologies are under development and will emerge. In addition, whether integrated or not, physicians and hospitals will have to deal with changes in the care delivery model which is moving away from an independent array of providers to a coordinated care delivery model.
Cardiologists Have Three Options
First, many cardiology groups may chose to remain independent. Second, cardiology groups have options to partially integrate through professional services agreements with their local hospital system. Third, private practices have the option to fully integrate with a hospital system.
The Implications of Full Integration with a Hospital
As it relates to full integration there are three primary elements. The first element is compensation, what does a cardiologist get paid once they become part of a hospital system? A second element to consider is the practice purchase price. The third element is governance and decision making. How are decisions made in a post-integration practice? Cardiologists are very interested in how those decisions will be made and how much of their autonomy they will have to give up.
What an Integration Might Look Like
Here’s what an integration might look like. During the pre-integration phase of the engagement, a practice assessment is completed. Next strategic alternatives are explored and a formal strategy is put in place and executed. Paragon can facilitate the entire process from assessment to post-integration. We can also help the practice and the service line management with the implementation of the strategies that need to occur in a post-integrated group.
Other Services Include:
- Clinical Co-Management
- Heart & Vascular Institutes
- Physician Lease Structures
- Collabotation Models
- Governance
- Quality Initiatives
- ACO
