In the past couple of weeks, you have been introduced to a wide array of concepts in our series, A Management Service Organization Provides Medical Professionals with a Unified Collaboration Approach to Achieving Success. In these two parts, you have learned that, while medical professionals want to provide their patients with the value that they deserve, they are being coerced into providing volume-based care over value-based care due to the standards outlined in today’s healthcare system, as implemented by the government. You have learned that, by collaborating with others under the direction of a MSO, you may be able to actually provide the value-based care that you strive for when it comes to your patients. As we continue this multi-part series this week, we will continue to deliver information on this very important topic.
The Reasons
As a medical professional, you may be wondering why you would want to organize with other professionals as a Management Service Organization. In all actuality, many professionals are curious about this. To make it simple, here are the two main reasons why you and other medical professionals should organize as a MSO:
- The first reason why you should organize and/or join a MSO is based on the economies of scale. This move will allow you to reduce costs – both in your facility and for your patients.
- The second reason that you should organize and/or join a MSO is based on the concept that there is strength in numbers. By being part of a large-scale group, you will have a higher level of achieving success when in the act of negotiating better rates for your practice.
While these two benefits may seem insignificant, they are actually highly beneficial. To truly appreciate these reasons, it is important that you first develop a solid understanding of the levels of integration that currently exist to a MSO. Once you are able to see the differences among them, you are likely to gain a higher level of appreciation for these two main reasons to start and/or join a MSO.
Levels of Integration – At a Glance
Essentially, there are four levels of integration when it comes to medical care:
- Network
- IPA
- MSO
- Merger/Acquire
To truly appreciate what a MSO has to offer, consider the following:
- A Network is a loose-knit group that offers no to little control. The contract strength is none at all to only a little bit. In a network, nothing ever truly changes.
- An IPA offers only a limited amount of integration and a limited contract. Sometimes changes occur, but, it depends on your contract.
- A MSO includes a high level of integration and allows you to keep control over your practice. It aids in building trust and allows you to provide value-based care over volume-based care.
- Finally, the Merger/Acquire offers the highest level of integration, but, you will lose control over your practice.
In reviewing the information in this week’s installment, you can clearly see that the absolute best way to go is through a MSO.
Be sure to return next week as we continue our series on MSOs.
MSO sound good to you!!! Become a member!
