Educational report by McKesson Revenue Management Solutions reviews how practice acquisitions are a growing imperative for financial leaders. Hospital leaders increasingly view physician employment as a strategic necessity that can better position their organizations to meet an anticipated shift toward outcome-based payments, the expected requirements of the reform-driven Accountable Care Organization’s (ACO) delivery model, and physician recruitment efforts made by competing hospitals.
Physicians, for their part, are more open to hospital-sponsored employment than in the past due to the growing difficulties associated with operating an independent medical practice. Increasing costs – coupled with flat or declining reimbursements – are exerting pressure on physician incomes. Physicians also are grappling with an ever more complex regulatory and reporting environment. As hospital-sponsored physician employment grows, the physician revenue cycle will play a larger role in revenue contribution to the hospital. Effective management of physician billing is therefore essential to the hospital’s success.
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