Home / Articles / Selecting the best business model for your medical group

Selecting the best business model for your medical group

April 24, 2017

Share:

If you’re confused about which business model to structure your medical group around, you’re not alone. The healthcare arena is changing at a record pace. Some people refer to this era as the “change revolution” because we are currently experiencing the same amount of change every seven years that previous generations experienced over their entire lifetime.

In response to the changes – and the opportunities they provide – some medical groups are merging, selling out to hospitals, or leaving the hospital-employed environment and going to independent groups. Others are finding themselves unable to enter payor networks, and some groups are being compensated for running selected departments of their local hospital.

The healthcare industry has a greater number of delivery systems than ever before, and seemingly no one single model holds the best option for every medical group. That’s when the knowledge and experience of an outside advisor can be invaluable. An outside advisor has a broad view of all the options that are available, but also has the objectivity to counsel on which model would be best for your medical group’s particular situation.

The right consultants will sit down with your management team and evaluate your situation. They will go through a thorough discovery challenging and evaluating your strategic direction, current culture and business system. Over the last several years CSH has built a “management model” for independent physicians that provides added value. Selected pieces of the system include the following:

  1. Total management of your medical group
  2. Placement of Executive Director / Administrator
  3. Monthly quantitative reports on each provider that range from 12 to 24 pages
  4. Negotiating managed care contracts
  5. Merger discussion
  6. Accounting, audit and tax services
  7. Other management engineering support systems

To learn which business model might be the best for your medical group, now or in the future, please reach out to the healthcare consultants at Clark Schaefer Hackett. Scheduling an initial, no-cost consultation can help smooth the sometimes bumpy road to change.

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

Guidance

Related Articles

Article

2 Min Read

The Details on GASB 97

Article

2 Min Read

Lease Accounting Standard ASC 842 Impacts on Debt Covenants and Capital Requirements

Article

2 Min Read

Federal Audit Clearinghouse Provider Changing from Census to GSA

Article

2 Min Read

Consequences of Not Being Proactive on Lease Accounting Standard ASC 842

Article

2 Min Read

Infographic: 4 Steps to Implementing the New Lease Accounting Standard

Article

2 Min Read

Maximize Your Tax Filing Preparedness & Awareness

Get in Touch.

What service are you looking for? We'll match you with an experienced advisor, who will help you find an effective and sustainable solution.
  • Hidden
  • This field is for validation purposes and should be left unchanged.