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Understanding the Grant Application Process and How To Be Best Prepared to Participate Many health care providers, including healthcare systems, hospitals, group practices, nursing homes, diagnostic and treatment centers, and home health agencies may be eligible for significant grants that periodically become available through various government funded programs.  Two such programs administered by the New York State Department of Health (“DOH”) were the Vital Access Provider Program (“VAP”) and the Statewide Healthcare Facility Transformation Program (”Facility Transformation Program”).  The VAP program, which was announced in December 2013, provided funding in excess of $375 million, and the Facility Transformation Program, which was […]

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Understanding the Super MSO Model and How it May Be Helpful in Meeting the Challenges Faced By Independent Urgent Care Operators Part II in the Series As previously discussed in Part I of this series, many independent urgent care operators discover early on, and after significant investments are made, that they may not have a real clear business strategy or roadmap to build long-term value for their business; a strategy that will ultimately lead to a successful and lucrative sale down the road.  Even though their centers may be highly profitable today, they are concerned about the financial risks associated with […]

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Understanding the Market Forces at Play, Addressing the Challenges, and Developing Long-Term Strategies for Sustainable Growth Part I in the Series Many independent urgent care operators discover early on, and after significant investments are made, that they may not have a real clear business strategy or roadmap to build long-term value for their business; a strategy that will ultimately lead to a successful and lucrative sale down the road.  Even though their centers may be highly profitable today, they are concerned about the financial risks associated with opening new centers.  Yet they recognize that they need to grow in order to […]

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The Current Trends in Physician Compensation and How to Re-Design Your Existing Compensation Plan The fact that physician compensation has become a frequent topic of discussion at medical practice board meetings should come as no surprise.  As hospitals continue to acquire medical practices health systems continue to consolidate and perhaps most importantly healthcare transitions from fee-for-service to value-based payments; the profit margins for medical practices and consequently physician compensation continues to get squeezed. The transition from fee-for-service to value-based payments is difficult at best for those practices who do not consider making changes to their physician compensation plans.  For those […]

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How to Evaluate the Effectiveness of Your Accounting Department and Improve the Financial Management of Your Practice Not many years ago, the accounting, financial management and reporting functions in a medical practice could be handled by a part-time bookkeeper and periodic visits from their outside CPA. Collections were fairly stable, expenses were relatively predictable and cash flow was generally steady. Today the story is much different. Incomes are being squeezed due to reimbursement cuts and increasing administrative overhead is placing a greater financial burden on practices. So how does this all play into having proper financial management and, for that matter, […]

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Understanding the Role of MSOs in Today’s World of Healthcare and How to Evaluate MSO Opportunities As healthcare continues to transition from volume driven fee-for-service payment models to those that are value-based, hospitals, health systems and medical practices continue to look for ways to collaborate to form more clinically integrated networks.  This has put increased pressure on many medical practices that lack strong management and the resources to develop the infrastructure needed to be a true player in the world of clinical integration.  This is one of the reasons why practices are now faced with greater financial, administrative, regulatory, and compliance […]

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The Current Trends in Bundled Payment Initiatives and How to Prepare for Participation Just like “ACO’s” and “meaningful use” were new concepts with unknown futures just a few years ago, the concept of “bundled payments” was also a term that had meaning, but an uncertain future. Now, several years later, bundled payments are a reality with new programs being rolled out by both federal, state and commercial payers. Further to this point, the Department of Health and Human Services (HHS) has recently stated that they expect “alternative payment models”, of which bundled payment models are just one type, to account […]

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How Will Upcoming Changes in the NYS’ Medicaid Program Affect Providers in NYS? In January 2011, Governor Cuomo and other stakeholders and health care experts, referred to as the Medicaid Redesign Team, took initial steps to reform New York State’s health care system. Now almost five years later, those efforts are becoming a reality as certain State-mandated programs are being implemented. One of the more significant programs is the Delivery System Reform Incentive Payment program (“DSRIP” or the “Program”). DSRIP is a five year program that runs from April 1, 2015 through March 31, 2020 and has up to $6.42 […]

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Gettry Marcus shares Primary Care Doctors in the US: 2015 trends. More [+]

Consolidation in the healthcare market continues at a frenzied pace, with hospitals and health systems taking the lead by creating networks that promote integrated, team-delivered care. Hospital and health systems are primarily creating these networks through hospital mergers, medical practice acquisitions, and employing physicians in their faculty practices. While hospitals are getting most of the press, consolidations among physician-led groups, commonly referred to as “mega-groups,” are increasing significantly. The mega-groups we will discuss generally have broad ownership and governance that is shared by the group at-large. In these mega-groups, the practices that join (“legacy practices” or “divisions”) are generally credited […]

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