“Many smaller practices and organizations are floundering as the healthcare market changes around them. Requirements for data reporting, care coordination, patient follow up, and so on, in order to meet new market and contracting demands is becoming too costly and cumbersome to support. Many smaller groups have little leverage in the market to secure good contract terms with both payers and hospitals that are building ACOs and limiting employee benefits to narrow networks —so coming together under these structures is a good way to share the load.
“Being part of a larger network of high performing (that is, ability to meet market quality metrics) providers improves leverage, minimizes participation costs, and allows for data to be managed centrally; which can help with CMS reporting, commercial payer pay-for-performance compliance, and patient tracking and management, for example. It is expensive to manage to metric-driven contracts, so utilizing CIN data mining across EHRs from multiple vendors helps to reduce that burden substantially. And if you can’t manage to the data, you can’t take advantage of performance initiatives and may be facing payment penalties in the months to come.
So if you are an independent physician, you may want to see what options are available to you to partner up with larger physician groups, hospitals, or health systems that can help you thrive in the big data market. Now is the time.