ECG Management Consultants

Recent changes to cardiology reimbursement have fundamentally altered the economics of an independent cardiology practice model and have led both cardiologists and hospital leadership to more seriously evaluate the benefits of physician employment. In the midst of an increasingly competitive marketplace, hospital leaders are under tremendous pressure to make quick decisions regarding cardiology employment, often negotiating poorly designed compensation arrangements in an effort to quickly secure their cardiologist networks. This Executive Briefing explores the importance of designing a compensation plan that incentivizes the right behaviors and maintains long-term financial viability.

The acceleration of physician employment and alignment have led hospital executives to evaluate different service line strategies to enhance brand awareness and improve return on investment (ROI). In some service lines, such as cardiac and cancer, national accreditation and the achievement of well-known designations are important tools in positioning the service line and creating market differentiation. This presentation explores how to choose the right accreditation target for your service line, as well as the differences between certain accreditations/designations in terms of scope, financial investment, and program requirements.

Got cardiologists? In the wake of completing a transaction, it is important to not lose sight of the value that employed cardiologists can bring to an organization. Employed cardiologists should be viewed as strategic assets. For the relationship to be effective in the long term, hospitals must be able to incorporate a physician focus into their overall strategy and leverage the new relationship. This Executive Briefing explores how to achieve true partnership with cardiologists by involving them in strategic planning, engaging them in operations-improvement efforts, and designing physician-driven management and governance structures.

Cardiologists’ top concern when contemplating employment is their compensation. A close second is the practice governance model and how practice leadership will relate to hospital management and other employed physician practices. The strategic challenge is to ensure that the chosen model is the right fit. This Executive Briefing examines the three most common practice governance structures utilized and explores the benefits and requirements of each.

Discover how to look at cardiology practice employment as not just a transaction, but as a strategy to enhance the CV service line. This presentation explores findings from a comprehensive survey of nearly 150 cardiology group practices, demonstrating trends in physician integration. A case study from Borgess Health will illustrate innovative ways to integrate and motivate recently employed cardiologists to take an active role in program development.

While policy makers struggle with health reform initiatives, there is agreement on one basic point: the trends in healthcare costs are unsustainable. The Centers for Medicare & Medicaid Services (CMS) has long been aware of the need for fundamental change and has used different approaches in its attempts to contain costs, including reducing reimbursement levels to offset increases in utilization and sponsoring demonstration projects to explore alternatives to the current system. Less well understood is CMS’s role in encouraging greater alignment between hospitals and physicians by manipulating reimbursement levels for high-cost services. This Executive Briefing examines the trends in Medicare payments for selected services and the difference in payment levels when those services are provided in a physician’s office as compared to a hospital outpatient setting. The results show some startling changes during the past 5 years and give an indication of which specialties may have compelling incentives to seek greater alignment with hospitals.

The healthcare industry is undergoing a time of unprecedented change that will require hospitals and physicians to work more collaboratively to reduce the cost of care while improving quality. Regardless of the exact changes to be implemented as a result of the Patient Protection and Affordable Care Act (PPACA), lowering cost, improving quality, and increasing access will be paramount to success. This will require that hospitals and physicians rethink their business strategies and implement more integrated care models. This article shares key insights that pediatric cardiologists should consider when evaluating alignment with hospitals and reviews the Professional Services Agreement (PSA) structure as an alternative to employment.

How can a hospital differentiate its cardiovascular services in a highly competitive market with declining volumes? This presentation examines the path Susquehanna Health’s Williamsport Regional Medical Center took to reach the Thomson Reuters Top 50 Heart Centers for the first time in 2011. It also discusses outcomes, patient satisfaction, and care coordination were improved and how their successes helped craft brand strategy.

High-performing CV service lines are led by physicians. The key to accomplishing this is to motivate physicians to be the catalysts of focused program growth. In a relatively short period of time, Rockingham Memorial Hospital (RMH) has been able to do this successfully by creating economically aligned physician relationships and empowering physicians to take an active service line management and governance. This presentation explores the specific tactics that have aided RMH in building a robust, market-differentiated CV service line, including creating a dyad management structure and implementing an inclusive governance structure with wide ranging strategic and financial responsibilities.