The purpose of this group being formed within HSMN is to help both Physicians and Hospital Organizations/Systems decide whether such a step is feasible financially and what next steps must be taken.
Many of our Physician and Hospital clients are asking for help as they respectively decide to join an ACO or create one by acquiring medical practices. Some Physicians are investing with others in trying to acquire the expert knowledge to get them ready to become an ACO (Accountable Care Organization) under the Affordable Care Act.
Our ARP Teams of Operations/Financial Strategists are looking at many practice and hospital system situations to determine whether such a dramatic step is warranted. The simple question of “Where have we been and Where are we going?” (in practice) must be answered by both the Hospitals and Physicians. Is this move to develop an ACO consistent with the mission of the Hospital system? Is such a move consistent with both professional and personal goals for the individual practitioners?
The ARP Team will focus on two important assessments:
A Practice assessment that includes a financial pro forma looking at all financial scenarios. How much income will be derived from either source?
The second Assessment is one that requires a Strategic look at where the practice was headed.
The ARP Teams sit with each of the practitioners or soloist to determine what their professional and personal goals are and where they stand currently in reaching them. Unless both assessments are done the decision to leave private practice and join an ACO as an employed physician or even as a Contractor are difficult at best to make. HSMN’s two assessments provide a view into a financial future as well as one that can bring professional and personal satisfaction.
Years in practice, type of discipline and the cultural and practice values held by the individuals are big determinants in the decision making process. We sort these out in a way that makes it possible for the person making the decision to be less emotional and more objective. HSMN has studied the ACOs in existence and the guidance CMS provides and throughout it the big question remains, “does this make sense for me or for our organization?” All practitioners/organizations who contemplate these changes still have no idea how the Financial theme will affect them. In theory everything is budget neutral. In reality it is not. So a Physician doing a gross of one million joins an ACO. The ACO goal is to help save some of that money and then reap some benefit by getting a percentage back. Or is it that the Physician will now have the ability to use an electronic record, share data, and provide integrated care in this patient centered endeavor. To what extent will this fulfill all professional and personal goals? We don’t know.
HSMN’s ARP Program has created an ACO Simulation. As part of the exercise; we plop the Physician into the ACO and he sees it from the inside (virtually). Likewise, with large organizations, we simulate what it will be like both financially and as “Mission” fulfillment for their organization.
The goals of the ACO movement are noble and do make sense from a theoretical point of view. Can they really work for the individual practitioner? The forerunners of the ACO are the Medical Foundations which seem to be thriving in California. The real question is what will really work for the physicians and other types of practitioners. There is the feeling in the country and among our clients that the ACO movement is antithetical to being an Entrepreneur in Practice. Our announcement today signals that HSMN has the staff, the experience and the depth to help organizations and individuals decide what is best for them and their patients.
Contact us and experience the HSMN Simulation, Financial Assessment and Strategic professional performance.
Please call us or email us with questions or to set up time for a telephone conference.