In Latin, locum tenens means “holding the place.”[1] The term was first used in medieval times to describe the use of clergy to temporarily staff Catholic churches when priests weren’t available. In healthcare, locum tenens emerged in the 1970s as a way to describe the use of temporary physicians in rural markets where local physicians […]
Every organization wants a strategic plan that’s dynamic and doesn’t just “sit on a shelf.” But how do you keep it relevant and focused over three to five years of dynamic change? Review and update the plan each year, but don’t waste time diving too deeply. When preparing for an annual update to the plan, […]
Private equity is increasingly prevalent in the physician practice space, leading to complex arrangements. Richard Chasinoff, Director at Veralon and Michele Masucci, Partner at Nixon Peabody discuss the structure of the management service organization (MSO), the financial, transactional, and regulatory climate and the unique legal and compliance challenges on AHLA’s Speaking of Health Law Podcast. […]
In this two-part video series, Danielle Bangs, Director, describes the forces driving competition for physician alignment and how hospitals and health systems can address the increased competition for physician practices. Learn how to access the full video and subscribe to our virtual board education services at www.veralon.com/V-BE If you are already a member, log […]
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, […]
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. […]
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 […]
As hospitals and health systems continue to evaluate how they compensate physicians, some have expanded upon their work relative value unit (wRVU) based compensation models to include activities for which wRVUs may not currently be assigned. We are seeing this trend applied to administrative activities—such as attendance and participation in committee meetings—and clinical activities that […]
Leaders of hospitals and health systems face an array of difficult challenges as they move into 2023. In light of the challenges providers face, the Veralon team has identified high-impact initiatives that may help systems turn the corner for a brighter 2023. Briefly, the challenges include: Weakened balance sheets that limit capital available for new […]