Community and academic physicians increasingly work together in the same health system, with many health systems including an academic medical center (AMC) and its faculty practice plan (FPP). Approximately 20 percent of hospital mergers involve academic medical centers (AMCs) and non-academic providers—resulting in an increasingly blended physician workforce. In this context, disparate physician compensation packages […]
As the old adage goes, “no margin, no mission,” and hospitals are struggling to to come out on top in their payor contract negotiations. What do hospital and health system boards need to understand to guide their organization through this complex process? Brandon Edwards, a healthcare strategist with over 25 years of experience in managed […]
Anesthesia provider shortages aren’t new, and they aren’t limited to certain geographic regions, but they are getting worse—and it’s time to consider new responses. By 2033, the shortage of anesthesiologists nationwide is expected to reach 12,500, according to an often-cited American Association of Medical Colleges (AAMC) report. From 2016 to 2021, the number of anesthesiologists […]
When it comes to physician practices, the rate of employment, acquisition, and alignment activity among health care corporate entities like payers, payer-backed groups, private equity, and major vertically integrated retailers has outpaced similar activity among hospitals and health systems. Danielle Bangs, Director, Veralon, speaks with Mike Flammini, Chief Development Officer, Privia Health, and Eric Tower, […]
Wyoming may be part of the nation’s frontier healthcare market, but the state is a reminder to hospital leaders everywhere of the challenges all hospitals face, no matter the level of sophistication or setting. It’s unmistakable: we’re all grappling with post-COVID’s three-headed monster of workforce shortages, externalities, and financial pressures. I was pleased to host […]
Before the early 20th century, there were virtually no physician specialists in the United States. Today, the list of physician specialties continues to expand as medical knowledge grows with new discoveries and advancements in technology. Now, healthcare leaders must consider: How does this super-specialization affect physician compensation? Specialization and Sub-Specialization Historically, physicians were generalists, but […]
The First Wave 2021 was the big year for WRVU changes associated with CMS’s extensive and far-reaching updates to the Medicare Physician Fee Schedule (MPFS). The changes, designed to ultimately be budget neutral, restructured reimbursement to increase payments to cognitive specialists (such as primary care and other medical specialties) and reduce reimbursement to procedure-based specialists. […]
Given the financial realities, it is imperative that Academic Medical Centers (AMCs) have a funds flow model that is equitable, rules-based, and aligned with the goals of the institution at large. Review this checklist of criteria to determine whether your institution should consider revisiting its funds flow model. Review this checklist of criteria to determine […]
Academic medical centers’ survival increasingly depends on strong relations with community physicians. More AMCs are developing their own community physician enterprises with the goal of supporting the tripartite mission of academic medicine. Even as AMC-led health systems consider new relationships with large independent physician practices and emerging practice aggregators, they must have a sound model […]