Coker Connection is Coker’s premier monthly newsletter. It’s a great way to stay on top of the latest news going on in healthcare and always features two new articles by different Coker consultants. To view the most recent articles, they are included below for download.
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Health System Practice Investment: What’s the Cost?
Health systems generally incur some level of investment in their employed physician network due to numerous operational and accounting-related variables. A question that health system executives often ask is “What is the appropriate level of investment per employed physician?” This concern is valid and calls for caution and guidance to determine an accurate answer.
When searching for information from the marketplace to address the potential investment question, some survey sources are available to provide reliable material. As an example, according to the Medical Group Management Association (MGMA) Cost and Revenue Survey, in 2016, hospitals’ multi-specialty physician groups invested almost $196,000 per employed physician.[i]
Vendor Selection and Negotiating EHR Vendor Contracts
From time to time, practices and hospitals face the task of acquiring and implementing a new EHR system. Some may find that their current EHR system does not align with their scalability, requirements, or vendor support needed by the organization. When system replacement is inevitable, it is essential for organizations to recognize that a new system is not a cure-all for the issues of the past. Replacing an EHR is often more difficult than the implementation of the original one, so it is critical for your organization to invest in the planning needed to define business and user requirements, implementation, and integration strategies. The most difficult aspect of a successful practice is determining the best vendor. It involves careful consideration of the needs and requirements of your organization, thorough assessment of the vendor, and informed decision-making. There is no “one-size-fits-all” approach to EHR adoption.
Past Coker Connection Newsletters
- Interim “C” Suite Management: Develop a Customized Job Description
- The Intersection of Compliance and Fair Market Value: Are You Sure Your Arrangements Coincide?
- Practice Management: An Integrated Approach to Short- and Long-term Improvement
- Healthcare Cybersecurity Threats and Trends for 2018
- Revenue and Quality Integrity: A Comprehensive Approach to Coding, Compliance, and Clinical Documentation
- Key Factors for Developing High-Potential Employees
- Are Single-Specialty CINs as Valuable as Multispecialty CINs?
- Mitigating Risk when Migrating from one EMR to Another
- Direct to Employer Contracting Arrangements – A Response to Rising Premiums and Compromised Care
- Patient Access
- Physician Compensation Governance: Building a Good Foundation
- Find, Develop, and Retain Successful Executive Leaders – A Three-Pronged Approach!
- Front-End Patient Collections: Where the Rubber Meets the Road
- Strategic Planning for Healthcare Systems and Practices
- 2018 Updates to MACRA
- Achieve Quality Improvement through IT Integration
- The Dangers of an Unstable IT Infrastructure
- Where’s the Value in Physician Practice Valuation
- Practice Optimization: An Argument for Spending More
- The Real Value of Executive Search
- Four Areas to Incorporate in Your Hospital Service Line Strategic Planning
- Long-Term Value Creation Through Effective Post-Merger Integration (And how football teams aren’t that different from hospitals pursing successful transaction strategies.)
- Coding Compliance and wRVUs: What Lurks Beneath the Surface?
- Coker IT Assessments: What’s Involved?
- Relationship Status with Productivity-Based Compensation: It’s Complicated
- Conflict Management and Successful Leadership
- Coker ValuePath™ Services: Successfully Navigate the Path to Value
- Revenue Cycle Management: It’s More Than You Think
- Five Steps to Building a “MACRA Ready” Physician Compensation Plan
- The Increasing Demands on Internal Recruitment Departments
- Spring Is a Good Time to Clean Up Your Vendor Contracts
- The Value of Clinical Documentation Improvement
- Smoothing the Rough Spots in Patient Flow in Outpatient Practices
- MACRA’s Medicare Part B Payments Under MIPS
- Leadership Development and Succession Planning
- Myth of the Median
- Interim Management: Allow Your Organization Time to Find Expert Leadership
- Cyber Security Lessons from 2016 and Trends for 2017
- Information Technology: A Competitive Necessity or A Competitive Advantage?
- Benchmarking to Perfection
- The Effect of the Election on the Healthcare Industry
- External Value-Based Incentives: What Should You Do With Them?
- The Importance of Accurate Cost Accounting in Healthcare Delivery
- A Reflection on Coding and Compliance Changes
- Prepare Your Organization for Unexpected Leadership Gaps
- Navigating the Documentation of Community Need
- Creating Balance between Clinical Needs and Cyber Security Policies
- Alignment Deal-Making: Keys to a Successful Transaction
- MACRA and MIPS in Physician Practice Valuations
- Identifying and Retaining Leadership Talent
- MU will Soon be a MIPS – Why and What do you need to Know?
- The First Step on the Road to Value: The Coker ValuePath Assessment
- Harmony – MD
- wRVUs: Are Yours Accurate
- Credentialing: The First Step to Revenue
- Developing a Physician Leadership Strategy
- Too Little? Not Too Late!
- Bridging the Gap from Fee-for-Service to Fee-for-Value (without Losing Your Mind)
- Physician Documentation: My, How Times Have Changed!
- A Strategic Systematic Approach to Community Health Needs Assessment (CHNA): A Living Plan for Your Community Health Improvement
- Mitigating Organizational Stress
- When and How to Convert to another EHR
- Do M&A Deals Really Result in Long-Term Value Creation? Increasing Your Odds of Success