BC Advantage - 2014 Issue 6

Strategic Partnerships with Outside Companies: The Solution for Challenges Facing Healthcare Entities Today

By: Diana AllenHospitals and physician groups are facing lower reimbursement models, with high risk populations and even higher overhead. Physician practices are facing resource drains with implementing Stage 2 of Meaningful Use and ICD-10. Hospitals operating on lean operational budgets are partnering with other companies to manage core functions to bring effective business processes. In these challenging economic times, hospitals and physician groups are finding partnerships with outside companies to improve their bottom line by outsourcing individual services or the entire revenue stream. Hospital acquisitions of multispecialty physician practices are on the increase, as more doctors opt out of...

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