The move to value-based healthcare under healthcare reform poses a unique set of challenges to physician groups. In the new era of healthcare, physician groups will be responsible for new aspects of patient care, such as population health management, and must attempt to provide the highest quality of care at a lower price.
Here, Timothy Ogonoski, managing director of Huron Healthcare's physician solution practice, shared some tips on how to operate a successful physician group under healthcare reform.
1. Remember the fundamentals. Physician groups should focus on the basics of operations, efficiency, capacity management, financial stability and clinical effectiveness. "By standardizing and streamlining these areas, we are helping clients drive down operating costs and improve patient throughput," said Mr. Ogonoski. He also noted that focusing on these fundamentals can help maintain or increase physician satisfaction, clinical outcomes and patient safety. All of these outcomes can help physician groups thrive in a pay-for-performance world.
2. Pursue patient satisfaction data. Gathering patient care experience data will help groups prepare for payment reform. "Access to more data on patients' experience of care [can prepare physicians] to take on risk for outcomes," said Mr. Ogonoski. Taking responsibility for patient outcomes and satisfaction will be expected under the new model of healthcare. If physician groups know what patients are saying, they can correct any problems revealed by the data and provide higher-quality care.
3. Tie compensation to hospital initiatives. Physician compensation should move away from being based on productivity and move toward pay-for-performance. The new compensation model should incentivize physician participation in group or hospital initiatives. "It will be increasingly important to establish incentives that reward clinical quality and delivery of cost-effective care in a collaborative clinical model," says Mr. Ogonoski.
Here, Timothy Ogonoski, managing director of Huron Healthcare's physician solution practice, shared some tips on how to operate a successful physician group under healthcare reform.
1. Remember the fundamentals. Physician groups should focus on the basics of operations, efficiency, capacity management, financial stability and clinical effectiveness. "By standardizing and streamlining these areas, we are helping clients drive down operating costs and improve patient throughput," said Mr. Ogonoski. He also noted that focusing on these fundamentals can help maintain or increase physician satisfaction, clinical outcomes and patient safety. All of these outcomes can help physician groups thrive in a pay-for-performance world.
2. Pursue patient satisfaction data. Gathering patient care experience data will help groups prepare for payment reform. "Access to more data on patients' experience of care [can prepare physicians] to take on risk for outcomes," said Mr. Ogonoski. Taking responsibility for patient outcomes and satisfaction will be expected under the new model of healthcare. If physician groups know what patients are saying, they can correct any problems revealed by the data and provide higher-quality care.
3. Tie compensation to hospital initiatives. Physician compensation should move away from being based on productivity and move toward pay-for-performance. The new compensation model should incentivize physician participation in group or hospital initiatives. "It will be increasingly important to establish incentives that reward clinical quality and delivery of cost-effective care in a collaborative clinical model," says Mr. Ogonoski.
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