Physician Networks-Who Wins?
When it’s done Right-Hospitals, Physicians, Patients
The focus of this blog is the employed physician network
Reasons to Form a Network
To many there appears to be several reasons to form an employed physician network. However in fact there are many reasons to create a network.
Top 15 Reasons for an Employed Physician Network
- Opportunity to improve coordination of care
- Physician recruitment and retention
- Potential for consolidation of overhead
- Process improvement – cleaner claims, greater percentage of timely filing
- Positioning for Population Health Management
- Centralized revenue cycle management
- Improved AR Management
- Stronger representation with managed care payors
- Tighter referral management
- Standardization of business procedures and processes
- Potentially reduce professional liability cost
- With system-wide EHR, opportunity to capture data otherwise not available
- Access to capital to expand physician network or invest in infrastructure (depending upon legal limitations)
- Opportunity to participate in ACO and CI providing new revenue streams to physicians
- Seat at the table for physicians to participate in decisions regarding cost savings distributions and other financial decisions affecting the network
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