A Management Service Organization Provides Medical Professionals with a Unified Collaboration Approach to Achieving Success – Part 2
Thank you for continuing our series, A Management Service Organization Provides Medical Professionals with a Unified Collaboration Approach to Achieving Success. Last week, you learned that many incremental – yet, highly unproductive – changes have taken place that reward medical providers for volume-based care and not value-based care. We explained that the current health plan system does not provide any type of incentive or rewards for value-based care; however, most medical professionals have a desire to deliver value to their patients. By creating a Management Service Organization (MSO), this may be possible as this will provide medical professionals with a unified approach to achieving success in their goals of integrating a value-based care system. In this installment of this series, we will expound more on MSOs on the multiple benefits in which they offer.
What is a Management Service Organization?
If you want to break away from the volume-based health care plans that currently exist in abundance and would like to offer value-based health care for your patients, you will want to get involved in a Management Service Organization, or “MSO” for short. This is a specially-designed organization that provides medical professionals with the administrative services and the care management services that will allow those providers to deliver high-quality care that people expect to receive from their practices. A MSO allows medical providers to cultivate relationships with their patients and grow their medical practices in a strategic manner. Finally, MSOs provide a means for medical providers to measure the value offered to their patients.
Watch Our Presentation about MSOs
The Advantages of the Measurable Value Offered by MSOs
There are multiple advantages associated with the measurable value that is offered by MSOs. These include, but, are not at all limited, to the following:
- Medical providers that are part of a MSO find that they are able to successfully reduce the operational costs associated with their practice.
- The reimbursement rates of the practice are improved.
- The market position of a medical practice is significantly strengthened.
- The processes within the medical practice are drastically simplified.
- It is possible for a medical practice to predict the costs that they will incur when they are part of a MSO; this, in turn, also allows predicting the outcomes of the medical practice.
- Finally, MSOs ensure that both medical professionals and patients experience the highest level of value.
While many medical professionals do not mind their required participation in a volume-based healthcare system, those that DO mind prefer to be a part of a value-based healthcare system. As medical professionals, we took an oath to provide our patients with the care that they need. Why should we push services and treatments on our patients that are not necessary? We would want to have the best medical care. We should provide the best medical care to our patients. The way to do this is to provide them with the services and treatments that they need – not what the healthcare system WANTS us to provide them.
