MSOs Give Physicians Options and More Importantly – Time
A long-standing concern for physicians in private practice is the amount of time they must spend away from patients tending to the business side of their practice, and that concern has only grown larger in recent years as complex EMRs were installed, and reimbursement procedures grew ever more complicated.
Recent trends have found the ranks of hospital-employed physicians growing as doctors continue to free themselves of the administrative burden of running a practice. Not to mention looming on the horizon is the biggest time and technology challenge of all: managing the clinical data needed to participate in value-based care.
Clearly there is a growing need by medical providers to outsource administrative services to better manage revenue cycles and provide patients the time they need. The good news is that there is no one-size-fits-all approach—contracts with Management Service Organizations can be streamlined to specific needs. For example, services may include:
· Coding, billing and collection services
· Financial management
· Electronic health record (EHR) and equipment savings
· Office space management
· Group purchasing
Do you have questions about running your medical practice? Horizon Group can help. Contact Ryan Jacox at 936-207-1336