Healthcare Management Company
Healthcare Management Company
Medical practices are busy. Any form of change is overwhelming and difficult to manage due to already pressured resources of time, man power and money. Many practices like the idea of adding ancillary services and added diagnostics but lack the ability to do so successfully.
MACRA and MIPS have increased the focus on patient outcomes and quality of care. Ancillaries and added diagnostics can aid this scoring however, the time, cost and demands to run additional services can be daunting for physician owners and practice managers, who are often already stretched.
Our Healthcare Management Company (HCM) solves the problem for you in one comprehensive solution encompassing all ancillary offerings. Partnering with a HCM allows you to rest easy and know that the recommended vendor for your practice specialty truly delivers. The HCM maintains strategic partnerships with a range of ancillary services without affiliation to any billing provider.
A Clinical Outcomes Compliance Manager (COCM) is provided for qualifying accounts. The COCM manages the clinical operations for the selected diagnostic and ancillary services and increases overall patient compliance with the recommended treatment plans.
Each practice specialty is assessed, and a range of diagnostic services and ancillaries recommended. The HCM has access to over 80 different services and work to utilize the most appropriate services to each practice.
How Does It Work?
A fully Stark Compliant model that allows you to create a new profit center in your practice that delivers tools and resources to improve diagnostics, billing, treatment and overall compliance. The model is run as a partnership with an ownership interest in a HCM. This is not an MSO.
The HCM is structured as a new Series LLC with a 60% ownership by the managing partner and 40% by the physician partner. Physicians make a small investment under the Small Investment Safe Harbor and then share in the monthly distribution of profits according to the ownership interest. Revenue is generated though management service contracts and ownership is not tied directly to the healthcare services, nor does it submit claims to any third party payers.
The HCM utilizes mobile technology to facilitate care and for cost containment, aiding in monitoring and managing health outcomes. Additionally, use of a COCM increases patient participation from 25% to 80-90% in diagnostic and ancillary procedures.
Each practice specialty has its own subset of suited ancillaries and diagnostics recommended.
The results of this model flow onto improved outcomes, MACRA/MIPS attainment scores and patient satisfaction.
Practice Benefits
Alleviate the stress of adding additional services by utilizing your HCM to manage the process for you. Benefit from improved QUM, patient retention, profitability and outcomes.
How Do I Get Started?
Complete a Practice Evaluation sharing detail on successes and struggles, payer mix and existing services.
1) A COCM is recruited
2) Ancillary and lab services documentation completed
3) Additional equipment ordered where needed
4) Year COCM is trained
5) Services implemented
6) Success is monitored externally
To find out how a HCM could benefit your practice, connect with us below.