ATLANTA, Dec. 17, 2014 (GLOBE NEWSWIRE) -- MedAssets (Nasdaq:MDAS) today announced that its Advisory Solutions enterprise consulting group has broadened its business practices to offer Physician Compensation Alignment services. The move reflects a growing demand among hospitals, care systems and physicians to develop smarter integration strategies as they meet the challenges of accountable care organizations and other value-based payment methodologies. The expansion of Advisory Solutions' population health management capabilities to include physician compensation services will complement its unique set of solutions that support operational excellence and sustainable, organizational transformation: Clinical Resource Management, Lean-related Operational Improvement Solutions, Workforce Solutions, Operational and Cost Analytics and Revenue Cycle Performance Solutions.
The new Physician Compensation Alignment services deliver expert consultants who can design and implement compensation plans and other financial terms for multiple hospital/physician alignment models and clinical specialties, including bundled payments. Services entail use of proprietary data analytics to deliver financial impact analysis, as well as third-party expert support for negotiating key terms of compensation and implementing governance structures. The result for clients is reduced administrative complexity and more informed decision making for entering into risk-based contracts, constructing and defining episodes of care and developing customized bundles and gainsharing programs.
Hospital systems across the country have been buying physician groups to expand their referral networks and prepare for a risk-based reimbursement environment where they will be held financially accountable for cost of care delivery and patient outcomes. Developing compensation packages that align incentives to create positive financial results for both the hospital and physician has now become integral to transition from volume-based success to value-driven delivery, particularly as more payors move to narrow networks to deliver low cost options that do not sacrifice quality.
"Managing to cost and quality of care for a defined patient population requires sound decision-making when formulating the financial integration between physicians and hospitals," said John Bardis, chairman and chief executive officer, MedAssets. "Healthcare organizations can have very complex environments that often create the need for objective, third-party experts and empirical data when developing the right shared savings contract. MedAssets now brings that critical objectivity and visibility into the unclear process of taking on reimbursement risk while delivering the best care to the community."
MedAssets (Nasdaq:MDAS) is a healthcare performance improvement company focused on helping providers realize financial and operational gains so that they can sustainably serve the needs of their community. More than 4,400 hospitals and 122,000 non-acute healthcare providers currently use the company's evidence-based solutions, best practice processes and analytics to help reduce the total cost of care, enhance operational efficiency, align clinical delivery, and improve revenue performance across the care continuum. For more information, please visit www.medassets.com.