Enticing HMOs for Practice Acceptance

Posted on December 15, 2007 by Dr. David Edward Marcinko MBA MEd CMP™
Take Care … Your Wishes

Staff Writers   

 

When, and if, you decide to be included in an HMO network, keep in mind the following considerations just as the HMO itself considers whether or not to include your practice in their network: 

 

· Is there a local need for your practice?

· Is your practice respected in the medical community?

· Is it profitable enough so that HMOs feel sure in your future survival?

· Do you pursue a strategic plan that affords a seamless union should you decide to sell or merge at a later date.

· Do you have the HR, capital and IT service to synergize with the plan?

· Are you familiar with basic business, managerial and financial principals; including an understanding of horizontal and vertical integration, cost principals and cost-volume-profit analysis?

· Are you willing to treat all conditions and patient types in your specialty?

· Is your office readily accessible with barrier free design (OSHA)?

· Is your office HIPAA, EMTALA, EMR, etc compliant?

· Do you have the appropriate emergency resuscitation equipment?

· If a part time office, is it open at least 20 hours / week?

· Do you offer 24/7 on-call coverage?

 

Remember, you can always appeal a declination, or renegotiate a contract after expiration.

So, what is you experience in the matter?

For related info: The Business of Medical Practice [Advanced Profit Maximization Techniques for Savvy Doctors]
http://www.springerpub.com/prod.aspx?prod_id=23759 

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