Secure Additional Revenue from Your Hospital or Health System
Physician groups spend a lot of time advancing hospital and health system-based initiatives such as remote and physical on-call coverage, meeting attendance, Medical Director and Department Chair services, staff training, conference attendance, and other functions. In an atmosphere of declining reimbursement and increased work demands, we help physicians be fairly compensated for these functions. Based on our experience of negotiating contracts, hospital financial support to radiology groups generally ranges between $100,000 – $300,000 per radiologist FTE. In one year alone, SMSC secured over $30 million in supplemental revenue for our clients.
Primary benefits include:
- Meaningful additional revenue for your practice through negotiation of payments from the hospital to ensure recruiting competitiveness and expected service levels.
- Implementation of specific methodologies for payments to physicians for services being provided to the hospital.
- The use of objective research-based data on the significant increase in supplemental revenue from hospitals and health systems to physicians in the last several years.
- A specific payment plan developed for hospitals that provides fair compensation for your practice while also preserving the hospital relationship.
Key Services
Professional Services Agreement review and proposed editing, including negotiations with the hospital as desired.
Reviewing current hospital coverage demands to identify opportunities for additional revenue.
Education of hospital administrators regarding the realities of physician group coverage and both regional and national benchmarks for supplemental revenue from hospitals for groups of similar size and breadth of coverage.
Developing, implementing, and reporting on key metrics that drive improved patient service and hospital profitability.