Thank you for continuing to follow this series. In the past four installments, you have learned numerous facts and benefits associated with the collaboration efforts associated with Management Service Organizations (MSOs). We have outlined the fact that MSOs allow you to provide value-based care, experience lower costs, that there is strength in the numbers associated with MSOs, and the numerous advantages associated with member practices. This week, you will learn about what will be expected of you if you become a member of a MSO and various other key facts. Be certain to return next week for additional information as we conclude this multi-part series.
Member Expectations
Now that you are familiar with the numerous advantages associated with becoming a member of a MSO, it is time to learn about what is expected of you, should you elect to become a member of such an organization:
- As a MSO member, you and your practice are considered to uphold the highest level of integrity and be completely transparent in all of your activities.
- You should be willing to commit your practice to being willing to change its viability as a private practice within the current market that focuses on value-based care.
- You should be willing to participate in a very specific outcome tool that is being used by all other members of the MSO that you have an interest in being involved.
- You should be willing to permit the billing function within your practice to be given up and moved to a central-based location.
- You should be willing to ensure that all of the contracts associated with your practice are placed under the individual MSO that you are involved.
- As a member of a MSO, you should be willing to ensure that your practice contributes, financially, to running and managing the Management Service Organization that you are involved.
Billing Details
Now that we have briefly touched on billing, it is time to provide you with comprehensive billing details. When your practice is part of a Management Service Organization, the billing will be handled at one, specific location. It will be completely integrated with a variety of specially-designed EMR software programs. The costs associated with this type of billing set up are about 7% of all monies collected. Best of all, the billing is placed under one individual Tax ID number for all of the contracts! The costs that you pay for billing would include the following:
- The cost for the EMR if there is included interest
- Any and all customer/technical support provided
- All reports associated with the billing process
At one point, physical therapy was considered to be a commodity. Today, it is considered to be a medically necessary aspect of patient care. If you are able to deliver measureable value to those that you treat, you will be well-respected and clients will view you as a reputable source of care. The Management Service Organization will allow you to do all of this, and more!
