Rectifying The Doctor/Hospital Relationship

What do hospitals need when working with their physicians?

They need to:

• 1. Recruit new physicians
• 2. Retain current physicians
• 3. Preserve cash but help physicians manage their practices more effectively

Today many hospitals are taking over current physician practices because they need the physician’s referral base and/or specialty. Often the loss of key physicians can have a severe economic impact on the hospital’s ability to maintain control of cash flow. Hospitals are struggling to provide a better business methodology to their newly acquired practices. This is because they have to:

• 1. Justify financing to lenders
• 2. Cost justify purchases to the hospital’s board
• 3. Limit inheriting physician group’s problems which creates more headaches for hospital administration
• 4. Increase hospital revenues via better management of newly acquired practice

Hospitals also need to drive value to their current physicians who need affordable practice management, electronic medical records, billing services, etc. Due to changes in the Stark Laws, physicians are increasingly requesting funding from hospitals for technology to better manage their practices. Silk has demonstrated that a better methodology exists for hospitals as they work with their new and existing physicians. Read the attached article of how Silk is changing healthcare by providing a better model.

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