Avoiding Healthcare Consolidation with Help From Rockett Healthcare Strategies

June 17th, 2024 | Healthcare Strategies

As an owner or partner in a private practice, you’ve likely felt the pressure to consolidate into larger health systems, and that pressure is only increasing. The good news is that by implementing targeted strategies, you can maintain your independence.

Keep reading to learn more about the strategies and services that we use here at Rockett Healthcare Strategies to help private practices stay independent.

How Rockett Helps Practices Maintain Independence

Here at Rockett Healthcare Strategies, we have a deep understanding of the challenges private practices face, and we have more than two decades of experience helping clients find creative solutions for financial sustainability. Whether we’re developing a local service agreement or navigating state regulations, we work to find unique opportunities customized for each client.

Some of the strategies that we have successfully used to assist other private practices in maintaining independence include:

Establishing Relationships

First, Rockett healthcare consultants work with your practice to arrange relationships with pathology labs, anesthesia groups, and other specialty services, helping you to provide more services to your patients while seeing a benefit to your practice. You might be familiar with TC/PC as an example. These sorts of arrangements allow small practices to use new sources to earn revenue.

Utilizing State Regulations

Next, we help clients take advantage of regulations that allow practices to be reimbursed like licensed surgery centers. In states with Certificate of Need (CON) regulations, you can earn more via office-based surgery and endoscopy programs. Health plans in these states actually partner with independent practices to pay you a facility fee to grow your revenue and assist in reducing costs versus hospital-based procedures.

Setting KPI Goals

We also assist private practices by establishing goals for key performance indicators, such as the number of procedures, new patients, and a reduction in canceled appointments. Every practice is made up of a full team, and each member of that team plays a role in achieving weekly, monthly, and quarterly goals. Our healthcare consultants can help you identify worthwhile goals, measure progress, and structure rewards to keep your team focused on results. 

Renegotiating Contracts

Last but not least, we work with practices to renegotiate insurance reimbursement contracts to get you the reimbursement rates you deserve. Every practice and surgery center is unique, and each has special advantages that need to be capitalized on. You can only increase what you earn by clearly presenting your advantages and capabilities to insurers. When it comes to insurance reimbursement contracts, you get what you negotiate, not what you deserve.

Maintain Private Practice Independence with Rockett

Consolidation might seem inevitable, but there are strategies you can use to avoid it. By partnering with Rockett Healthcare Strategies and utilizing our robust expertise, many practices have found workable paths to staying independent on their own terms.

If you have questions or want to discuss your practice’s specific needs, you can contact healthcare consultant Rock Rockett directly. Rock is fully dedicated to finding clients customized solutions that work for them. We look forward to collaborating with you on your continued success.

If you’re looking for ways to avoid consolidating your private practice, reach out to the healthcare consultant Rock Rockett for guidance.

Talk to Rock