How to Achieve Physician Practice Integration
Recently, I was talking to the vice president of medical affairs at a major Midwest hospital system, and the conversation turned to physician employment. A physician himself, he reflected on the shift we've seen over the past dozen or so years on the subject of physician employment.
About a decade ago, hospitals were busily divesting themselves of hastily-acquired physician practices that weren't panning out as the hospitals had planned. What they found was that they were the (sometimes willing) victims of a bubble in physician practice valuation. Not only that, but they found that once they had acquired the practices, they had neither the expertise nor the systems to run them efficiently or to ensure the productivity of physicians who had become employees.
WEBCAST: Cultivating Physician-Hospital Alignment in the ACO Era
When: July 20, 2011
Register today for this live event and webcast
"A big part of our future is in alignment and integration," he said. "Now, cardiologists, for one example, are knocking on our door and practically begging for employment. That allows us to be innovative in employing right groups who are really interested in working with systems and being measured for quality and productivity."
Yes, hospitals are once again interested in acquiring physician practices, mainly because it offers them a way to ensure accountability, quality, and productivity in an era where excellent performance on those measures is financially rewarded. And this desire for employment stretches far beyond cardiology. But the work is really in the integration, not the art of the deal.
- CMS Sets 2014 Pay Rates for Hospital Outpatient and Physician Services
- FDA hopes hospitals will switch to newly regulated pharmacies
- The 5 Biggest Healthcare Finance Trouble Spots
- Not-for-Profit Hospitals Find Opportunity Amid Uncertainty
- Nonprofit Hospital Outlook 'Negative' in 2014
- The Most Polarizing Topics in Healthcare IT
- Are ACOs Really Different from HMOs?
- How CPOE Will Make Healthcare Smarter
- Why You Should Involve Patients in Nursing Handoffs
- Rise of the Chief Strategy Officer