This week, we conclude our multi-part series, A Management Service Organization Provides Medical Professionals with a Unified Collaboration Approach to Achieving Success. We thank you for electing to follow us these past 6 weeks. You now realize that MSOs are a way to provide the value-based care that you wish to provide to your customers. Not only will your practice experience lower costs, but, you will find that the strength of the MSO lies in its numbers. As a value-based care provider, you are sure to experience numerous benefits by associating yourself with a Management Service Organization.
Colorado Physical Therapy Network a Messenger Model for MSOs
We here at Colorado Physical Therapy Network are the only local network available in the area for the independently owned rehabilitation practices within the State of Colorado. These practices include physical therapy, occupational therapy, and speech practices. As of late, numerous clients have expounded on the fact that we have been unsuccessful in obtaining reimbursement increases from the contracted health plans that we work with. This is where the Management Service Organization comes into play. Currently, we are identified as a “Messenger Model” IPA. This stands for “Independent Practice Association”.
As a result of the messenger model system, if we are provided with a contract or any type of minimal contract rate increase, we currently must share that information with every single one of the practices that we work with in order to obtain an approval. If we elect to practice and come together under a MSO that have one single Tax Identification Number, The Colorado Physical Therapy Network will have the ability to “speak” and “act” on behalf of the entire network. Not only does this allow us to veto, but, it allows us to free up our time and not be burdened with unacceptable offers and burdens.
Where We Are Headed As a Nation
As a nation, we are headed towards a time where three main healthcare plans exist. First, we have the possible merger of COGNA and Anthem BC/BS, Aetna, and, finally, United HealthCare. Currently, the new contracts that are available are extremely limited. As a result, we are attempting to work towards a point where we may add value-based services – like, group purchasing – to our network. In fact, we have recently signed a contract that will allow us to save all the practices in our network a vast array of money on various types of legal fees.
Strength in Numbers
To conclude this series on MSOs, we would like to stress a few main points. First, a MSO would provide us with a singular Tax ID that would be use for contracting purposes. Second, a MSO provides a centralized billing company. This helps to minimize the outliers in billing and coding practices. Third, a MSO will offer your practice the ability to be a part of a nationally-recognized, highly-endorsed outcomes collection system.
