From Tom's Desk
I met this young man at a family wedding recently, I call him Chad. He worked for a venture capital firm who buys up distressed medical practices for their covered Medicare Advantage lives.
They employ the doctors and use population health tools to massage the value of their patient panels. Once they reach a critical mass they intend to sell them for the greatest return.
When payment is based on data, a patient’s financial value can be quantified---and they will be bundled, bought and sold just like any other financial instrument.
When I asked why these doctors don’t just work their Medicare Advantage contracts on their own, especially when large insurers are willing to give them more advantageous contracts, he answered that they don’t know how.
They don’t know how.
If you’re in this position and don’t want you patients treated like a 2008 mortgage backed security, learn how to work your contracts.
Start here. It’s free. I don’t even want your email address.
I’ve been blogging tactics for Medicare Advantage success every day for the past year because I know how you feel. I’ve been there.
Above all, if you have any doubts about selling out, wait.
Put some efforts into your workflows and practice design first.