Synopsis
HEADLINE: New book helps hospital and health system leaders and physicians enter into better contracts in a value-based world. The current era of healthcare alignment among physicians, hospitals, and outside independent investors has been underway for 10-15 years. Given this, many of the original contracts that formed the basis of these arrangements have (or will soon) expire. Thus, we refer to these new deals as Second generation transactions. As the system moves toward a more value-based, fee-for-value reimbursement environment, newer alignment vehicles, such as accountable care organizations (ACOs), clinically integrated networks (CINs), and patient-centered medical homes (PCMH) are beginning to take shape. More physician compensation models now include at least partial incentives for performance, as measured by such matters as specialty-specific quality metrics, cost efficiency metrics, meaningful use of electronic health records, and other parameters. Physician-Hospital Alignment and Compensation Models: The Second Generation is written by experts from Coker Group a leading healthcare consulting firm recognized for their expertise in physician alignment and compensation. Starting with a review of First Generation physician compensation models, the authors then detail components of Second Generation models including: How Value-Based Reimbursements of the future call for adjustments to the Volume-Based incentives of the past. How to engage physicians in alignment initiatives that are favorable to both parties. How to approach the imperative today of improved quality of care coupled with decreased costs of care. How to be profitable in a demanding, competitive, and highly-regulated environment. BONUS INCLUDED! Actual templates for your use: Letters of Intent Comparative Review Summary of Key Terms in Physician Employment Agreements Professional Services Agreement for Specialty Services Management Agreement Table of Contents Introduction Section 1 Chapter 1: Overview of Compensation Plans Chapter 2: Current First Generation Plans Chapter 3: Market and Industry Dynamics Promoting New Compensation Paradigms Chapter 4 Second Generation Compensation Models Chapter 5: Negotiating Second Generation Contracts Chapter 6: Where Does Physician Compensation Go From Here? Section 2 Chapter 1: Overview of Stage I Alignment Chapter 2: Market and Industry Dynamics Promoting Stage II Alignment Chapter 3: Stage II Alignment Models and Entities Chapter 4: Structuring Stage II Alignment Models Chapter 5: Implementation of Stage II Alignment Models Chapter 6: Where Do We Go from Here with Value-Based Structures and Strategies: Will there be a Stage III? Appendix A: Letters of Intent Comparative Review Appendix B: Summary of Key Terms of the Proposed Physician Employment Agreements Appendix C: Professional Services Agreement for Specialty Services Appendix D: Management Agreement
About the Author
Max Reiboldt, Justin Chamblee, Mac Knight, all from Coker Group, is a national healthcare advisory firm that works with hospitals and physician groups to develop customized solutions in four main service areas: Strategy and Operations, Finance, Technology, and Executive Search. Coker Group s mission is to customize an approach for each client that ensures strategic differentiation in the marketplace and the achievement of every goal across all performance areas. Through principled professional consulting, Coker Group assists healthcare providers in their pursuit of a sound business model and an enhanced patient experience. Coker Group's advisors have the experience and creativity to find the right solution for any market and healthcare entity
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