Physician Network Growth and Stabilization
Physician Network Growth and Stabilization: How transparency is foundational to sustainability.
That’s because the market is staring down a future without enough physicians to go around. Hospital groups are growing their networks at incredible rates: between 2012 and 2018, the number of hospital owned physician practices increased by 124.1% – with that growth poised to continue into the future. Over 75% of health systems say they plan to employ more physicians in 2020.i
Just one problem: according to the Association of American Medical Colleges, the U.S. “will see a shortage of up to nearly 122,000 physicians by 2032.”ii
Worse, not only are medical groups competing for a shrinking number of physicians, they’re facing increased competition from new quarters. Retailers like CVS and Walmart are planning to build their own healthcare workforces, for example.iii Payers are also developing their own networks. “Blue Cross Blue Shield Association, for instance, will launch a national provider network in 2021,” reports Beckers ASC Review.iv
In this new reality – not enough providers and too many competitors – churn can be an existential problem. If you lose providers to turnover in coming years, it may be literally impossible to replace them. That puts everything the health system wants to achieve at risk: patient outcomes, revenue generation, organizational reputation.
So, what can medical groups do now to grow, protect, and sustain their provider networks? More to the point, how can they manage scalability with a sustainable, systematized business process that offers resiliency against tomorrow’s dangers? It starts with transparency. Read or download a complimentary copy to find out how.
https://heisenbergii.com/downloads/hhs-provider-network-whitepaper.pdf
About Hallmark Care Solutions
Hallmark Health Care Solutions is a global healthcare solution and information technology firm with offices located in New Jersey, New York, Michigan, and India. Hallmark offers a unique approach inclusive of both strategy and technology to achieve the desired outcome. The technology component positions organizations to use real-time data for improved decision making with regard to leveraging human capital. Over the years, Hallmark has helped organizations optimize and save millions in labor expenses, improve their efficiency and achieve fiscal responsibility through best-in-class software and strategic workforce solutions.www.hallmarkhealthcareit.com
Dave Butcher, SVP
Hallmark Health Care Solutions
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