Why Risk-Based Contracts Are Worthwhile
ACOs involve a network of providers coordinating care and agreeing to some level of financial risk in insurance contracts. The MMS study says single-specialty practices are least likely to embrace ACOs over multi-specialty groups or teaching hospitals.
"Yet we also see some positives, with more physicians willing to participate in accountable care organizations and global payments, and that bodes well as health reform continues to evolve," said the society's president, Richard Aghababian, M.D., in a statement.
"The payment reform bill signed in August has many provisions pertaining to physicians and the practice of medicine. While we are heartened by the law's provisions for medical liability reforms and preventive care, just how the law will affect our physician workforce and to what degree is unknown at this time. It is something we will be watching carefully."
Risk-based contracts were a subject of discussion at last month's HealthLeaders Media second annual CFO Exchange, an invitation-only event that pulled 30 of the nation's top healthcare CFOs together to focus thought leadership on today's most challenging healthcare issues.
Participation in risk-based contracting by physicians, hospitals, and health systems continues to be slow The contracts can be challenging for financial leaders to accept on behalf of their organizations and convincing physicians to agree can also pose a challenge.
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