Healthcare Services MSO Predictions for 2021
An excerpt of the full report is included below. Download the PDF for our full 2021 MSO operational discipline predictions.
Practice Strategy, Executive Oversight & Execution Project Management
SCALE Contributor:
Platform Development
Team
Improving Practice Operations – Key Focus Areas
- Continued desire to consolidate practices, whether driven independently by physicians or PE-based, creating a need for increased project management and deep domain expertise
of nuanced processes - Many growing platforms seeking guidance and clarity regarding how to best structure and scale MSOs, align key stakeholders (e.g., MD retention) and deal with other issues such as cross-state
platforms and implications of TIN integration. Platforms are working through the many layers of what integration can, should and should not mean across cultural and core functional domains - Practices failing to keep pace with market changes are facing steep indirect costs via missed value opportunities and gradually being outcompeted – need for strong, coordinated management leadership across key functions as well as sufficient investment in foundational reporting & analytics, technology solutions and branding & marketing
- Continued growth in practices seeking to expand their ancillary and care coordination services and looking for ways capture revenue from multiple downstream services, not just E&M and procedures
Revenue Cycle Management
SCALE Contributor
Bobby Trenczer
President, SCALE RCM
SCALE Forecast
- Creating and utilizing dynamic business analytics & dashboard reporting to monitor and improve quality, performance results and productivity efficiency
- The AMA, with CMS’ support, updated coding guidelines for outpatient visits in 2021
- Code based on Time or Medical Decision Making
- Reduced documentation requirements – “appropriate” history and exam
- Telemedicine expansion, ensuring compliant coding and documentation
- Many multisite practices lag behind in centralized functions such as eligibility checks resulting in more expensive workflows
- Growing emphasis on best practice protocols for patient balance collections
- Improved contracted fee schedule rate management
IT / Data Systems
SCALE Contributor
David Kovel
Executive Partner
IT Systems &
Population Health Analytics
SCALE Forecast
- Practice consolidation activity is driving questions around IT systems integration strategy – historical lack of in-house IT expertise across a broad portion of the market is creating confusion and reactive approaches to complex IT systems integration execution processes
- Platforms of scale are gradually incorporating more strategic IT business plans into their scaling & investment strategies – process automation, advanced data analytics, claims analysis, etc.
- Improved system and service integration through API capabilities of cloud systems (e.g., two-way texting, phone services, single sign on)
- As coverage emerges, improved 5G cellular throughput for mobility outside of practice location and provisioned as network provider
- Data mining and reporting for clinical outcomes management and value-based care participation
- Continue increased tele-communication capabilities for provider to patient encounters, as well as support for remote practice workforce
- Enhanced security roll-out through multi-factor authentication techniques (SMS, Phone applications)
- Use of extraction and digitization methods for legacy medical records archiving on Cloud-based storage.
- Use of robotic process automation to reduce labor costs associated with routine work processes
Download the PDF for our full list of 2021 MSO operational discipline predictions.
