Highlights of the report:
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Changes to the ways that health care is delivered and paid for is driving large physician medical groups to continue to adjust their business models. HIRC's report, Large Multispecialty Medical Groups: Market Landscape Trends and Strategic Imperatives, reviews recent market activity, trends in emerging care models, and medical groups' most pressing strategic imperatives. The report addresses the following questions:
- How has the landscape of medical groups by ownership and distribution of physicians changed over time?
- How are emerging care models and advances in primary and specialty care evolving?
- Which market trends and dynamics are impacting large multispecialty groups most?
- What do medical group key decision-makers describe as their top priority strategic imperatives to address by 2018?
- What is the status of large multispecialty groups' participation in payers' value-based reimbursement programs?
Key Finding: Large multispecialty groups are actively adapting their business models to position for success in a value-based reimbursement environment; population health and health information management & analytics are top areas of investment.
The Transition to Value-based Care Identified as Most Disruptive Market Trend Impacting Medical Groups. Large multispecialty group decision-makers were asked to identify the top national or regional health care market trends that have the potential to radically change their business and industry over the next 1-3 years. The shift towards value-based reimbursement was identified by 76% of respondents as among the top market trends impacting medical groups, followed by health system and medical group consolidation and uncertainty regarding the future of the Affordable Care Act.
The full report provides the complete list of impactful market trends identified by medical groups and examines the top trends in greater detail.
Health Information Management & Analytics Among Key Areas of Investment for Medical Groups. Medical group decision-makers were asked to consider and rate their level of investment in four key capabilities that could aid in the transition towards a value-based reimbursement environment. Groups rate their investment as highest on average in health information management capabilities (68 out of 100), but much lower in risk management and actuarial capabilities/expertise (48 out of 100).
The full report also provides level of investment ratings by group size. In addition to a deep exploration into emerging care models and value-based reimbursement, the complete report provides medical groups' top strategic imperatives, stratified by practice size and ownership type.
Research Methodology and Report Availability. In August-September, HIRC surveyed 38 large multispecialty medical group key decision-makers. Online surveys were used to gather information. The full report, Large Multispecialty Medical Groups: Market Landscape Trends and Strategic Imperatives is part of the Organized Providers Service, and is now available to subscribers at www.hirc.com.