Physician practices and Ambulatory Surgery Centers (ASCs) are struggling to recover to pre-pandemic numbers. As a result, previously independent locations are becoming more and more likely to join with hospital systems or are forced to consider private equity to stay afloat. These options may provide relief but eliminate the concept of physician independence. However, partnering with an MSO could be a viable alternative.
This can provide oversight and assistance while maintaining the independence physicians work so hard to achieve. Joining a Management Services Organization, or MSO, can also help alleviate business management problems and potentially reduce burnout and turnover. It allows you to keep your practice or center running smoothly without having to sell to a larger healthcare organization or private equity firm.
What is an MSO?
An MSO, or Management Services Organization, is a business model focused on alleviating workload on independent practices and ASCs. The MSO works to provide specialized services, allowing physicians and staff to spend more time caring for patients. The MSO provides a centralized platform for organization and services to participating centers and practices.
PE GI Solutions offers two MSO-based platforms in PE Practice Solutions and PE Center Solutions.
Why partner with an MSO now?
On March 28th, President Joe Biden proposed a $5.8 trillion budget to the United States Congress, detailing plans to address issues inside the healthcare system. However, as Becker’s Laura Dyrda reported, independent physicians and ASCs saw little for them in the plan.
High rates of inflation and rising costs of staff salaries and necessary equipment has created a large burden on the bottom lines of practices and ASCs. With the help of an MSO, you can receive assistance. This may be in planning and executing a financial plan to help reduce these burdens, while continuing to plan for the future.
What services could I receive from an MSO?
Through our PE Practice Solutions and PE Center Solutions service models, partners receive access to over 300 specialized team members with expertise in:
- Revenue Cycle Management
- Financial Planning and Reporting
- Physician Recruitment and Retention
- Clinical and Operational Support
- Information Technology (IT)
- Human Resources
- Policy Advocacy
- Marketing and more
Additionally, utilizing these services can also reduce the effects of physician burnout. This is because a reduced workload creates less stress on tasks outside of the care of patients.
If I partner with an MSO, don’t I have to give up my independence?
Unlike partnering with hospital systems or private equity firms, working with a PE GI Solutions MSO allows physicians to still retain control of their practice or ASC. Our main objective is to provide quality services that allow physicians to spend less time focused on business management and more time on providing high-quality care to patients.
How can I learn more about PE GI Solutions?
To learn more about PE GI Solutions and our PE Practice Solutions and PE Center Solutions platforms visit pegisolutions.com.