A handful of health systems are exploring new sources of income selling functions of Back-Office, such as IT support, income cycle or programming management, such as services for other suppliers, a health consultant said.
Tyler Giesting, director of Health M&A at West Monroe, said that the winds of the ongoing financial head, such as insufficient refund and increased labor cost, are promoting health systems to find new sources of income that you like income and method output Methoding methods that methods method method method Method Method Methoding Methodonization are met.
This approach to boost income really only works for large health systems that can deliver functions of back-effect internally, with the scale, experience and infrastructure to do it at a high level, Gesting explained. While the trend is still uncommon, he said that interest is growing.
“We are seeing some systems that say:” Okay, we know that we could take this to some of the hospitals of the community or regional or narrower that are looking for a partner. “And I think there is a consonance value proposal with a system in your region or simply another health system that includes its population of patients in a way perhaps a large and subcontracting aggregator or a [managed services provider] It could not because they are eliminated in another degree, “Gesting said.
For example, a large health system could take advantage of its centralized call center to manage patient calls on behalf of an affiliated network or hospitals. A large system could also sell its IT services to organizations that use similar EHR configurations, commented.
For the health system that sells its services, the advantages include more income, the potential to use excess capacity and the possibility of building a closer relationship with the associated systems, he said.
He added that there is also a certain risk, since this new offer could potentially distract a supplier of its central operations.
“If you focus on excess, you could put other things at risk. Therefore, it is likely that a approach of ‘tracking, walking, executing’ that I think these turns will take if they are determined to do so. They are fashionable, they, they take to take and take to take to take good, take good, take good to take, take to take to take.
As for the health system that is buying the services, this provider obtains access to specialized experience, greater familiarity with its EHR configuration and perhaps a more personalized service than the one that would obtain from a large and impersonal provider, he explained.
This model of “as a service” is still quite nasce, but Gesting believes that it could become an increasingly attractive strategy for health systems that seek to turn their operational experience into a competitive and profitable advantage.
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