More Physicians Adopt Membership or Cash-Pay Models as Financial Pressures Mount

Healthcare Finance News published this timely article, Reimbursement pressure has physicians adopting membership or cash-pay models. Here is a summary of the key points:

• More than 80% of primary care physicians are concerned about their long-term financial sustainability (according to 280 respondents to an Elation Health survey)

• Reimbursement remains the most significant pressure point (64% of respondents)

• The structural mismatch between (a) what it takes to run a primary care practice, and (b) what the system pays for this service is leading many practitioners to pursue new approaches to stabilize their practices.

Of insurance-participating physicians, 27% have adopted membership or cash-pay models, while 18% are shifting toward value-based payment structures.

• Kyra Fong, CEO and co-founder of Elation Health argues that practices needs 3 things to succeed: (1) technology that's purpose-built for their payment model, (2) integration with the broader healthcare system, and (3) predictable cash flow.

• Physicians are developing plans to address the financial concerns. 69% expected to implement these changes within two years.

Read the full article here.