Presentation on theme: "Case Study: Struggling Practice Finds Success Through an Innovative Consortium Presented by Kyle Matthews CardioVascular Associates of Mesa, P.C."— Presentation transcript:
Case Study: Struggling Practice Finds Success Through an Innovative Consortium Presented by Kyle Matthews CardioVascular Associates of Mesa, P.C.
Objectives Explore a unique perspective on physician and practice cooperation to maintain independence Identify a new way of doing business beyond integration or an accountable care organization model Evaluate whether your organization can succeed using an innovative business model
About Your Speaker Kentucky Native Early Volunteer Western Kentucky University Freed-Hardeman University – Accounting – Finance AmSurg Corporation CardioVascular Associates of Mesa
About Your Speaker Arizona MGMA President National MGMA Committees – National/State Task Force – Annual Conference Abstract Review MGMA 4Corners Conference Co-Chair
Disclaimer This presentation is a case study based on actual events as experienced by a practice administrator. Before beginning any work on any form of cooperative entity, please seek legal, accounting and other professional advice. Your presenter is not a legal nor accounting expert and is not making any recommendations on how to form new entities since all practices are unique.
Do It Yourself Recognize the Problem Find the Solution
Practice Background Located in Mesa, Arizona – Phoenix Suburb – 38 th Largest City 8 Physicians 5 NPs/PAs 2 Offices 15,000 Unique Patients Per Year
Service Area Intense Competition – “Guys Next Door” – Influx of New Physicians Hospitals/Systems Lack of Integration Snowbirds Housing Market
Same Story, Different Place Billing Problems Low Morale Sacred Cows Unfavorable Contracts Operational/Financial Inefficiencies Mounting Debt Embedded Consultant
Change Begins New Management Team New Compensation Model New Team Focus Financial-Based Decisions Revamped Committee Structure Restructuring of Existing Contracts
New Challenges Arise Reimbursement Economy Competition Hospitals PCP Consolidation Traditional Solutions Were Not Enough
Our Future Partners Different Philosophies Different Culture Number 1 vs. Number 2 Heart Hospital Partner Transfer Virtually No Interaction
Small Problem -> Huge Opportunity Banner System “Rural” Hospital – No CV Services – No Cardiology Presence – 30 Minutes Each Way – Projected Consults < 5 Per Week
It Begins One Phone Call Cheesecake Factory Similar Strategies Similar Issues Common “Foes”