One group you must engage to lower costs at your hospital
Did you know that many hospitals lose $100,000 to $175,000 a year per physician due to influencers including failed physician integration, misalignment, and poor partner strategy planning? This total doesn’t even include the substantial additional investments made for physician acquisition and employment.
In 2017, we can expect hospitals to begin pursuing contracts, agreements, and partnerships to retain as much physician generated volume as possible. Some hospitals will go after partnerships like CINs, bundled payments, or gain-sharing models while others will continue to pursue ACOs, co-management agreements, and shared risk pools. The main driver of these decisions is based on physician-hospital alignment and collaboration.
Ways to reduce your physician-related losses:
- Monitor the effectiveness of your organization’s physician integration, alignment, and partnership strategies.
- If you have a MACRA roadmap, follow it closely; if you don’t, work alongside your physicians to develop one immediately.
- Determine whether a Merit-Based Incentive Payment System or APM tracks are most beneficial for your physicians.
- Monitor the current and projected future performance status of your alternative delivery and payment models (e.g., ACO, bundle payments, CIN, others).
- Monitor the performance of your organization’s value-based payment arrangements to ensure the organization is optimizing the results and incentive payments.
Physician-hospital engagement plays a critical role in the success of your organization.
NRC Health offers solutions that drive workforce engagement and empower physicians to better understand the individuals they care for and design care experiences that inspire loyalty. Providing physicians with real-time, actionable feedback about what matters most to the people they serve will drive improvement and decrease your yearly physician-related capital losses.