As health systems seek to address COVID-19’s economic and patient care challenges, success increasingly hinges on the ability to create high-performing provider enterprises. The current situation is no longer sustainable. The provider enterprise must be fundamentally redesigned to achieve required financial and operational improvements.
In the moment of pandemic crisis, it is unwise to implement fundamental changes to physician compensation models. However, some considerations and short-term actions are warranted and necessary. Health systems, medical groups and faculty practices should consider four essential steps.
Leaders need to think broadly about the capabilities of their clinicians and staff to respond to COVID-19 capacity issues. One group primed for elevation and expansion of role is advanced practice providers (APPs).
Many academic medical centers (AMCs) have evolved into academic health systems (AHSs) by building or joining large delivery systems to ensure their continued access to patients, teaching settings and leadership role in their market.
Strategic Business Units are expected to perform efficiently and contribute to a system’s overall financial performance. Failure to recognize the physician enterprise as a Strategic Business Unit and to understand and address lagging physician enterprise performance is no longer an option for most health systems.
Doubling down on ambulatory patient access and bolstering patient loyalty is more critical than ever for providers striving to retain and serve current patients, grow programs, and bend the cost curve.
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As provider organizations prepare for a changed future, health systems must make it easier for medical staff to effectively deliver care across the system, without unnecessary barriers, bureaucracy or costs. In this paper, we outline how four key components can help health systems increase agility, effectiveness and cost efficiency in their medical staff functions.
The United States cancer care ecosystem has been significantly disrupted by COVID-19, producing financial hardship and an uncertain future for many cancer centers and physician practices. In this environment, opportunities are emerging as independent oncologists seek new partners to secure longer-term financial stability or avoid more immediate service rationalization and downsizing.
COVID-19 has created a burning platform to fundamentally transform clinical processes to reduce the cost base, enable the restructure of the physician enterprise and transform the clinical operating model. To recapture volume and revenue, health systems must quickly transform their clinical operating model to provide coexisting systems of care for COVID-19 and non-COVID-19 patients.
