Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Experiment Videos

Know when to hold 'em, fold 'em. A tool to project expected provider pay from contracts.

Ray Fernandez, Berney Crane, Jack Reed

    MGMA Connexion
    |March 12, 2004
    PubMed
    Summary
    This summary is machine-generated.

    Related Concept Videos

    You might also read

    Related Articles

    Articles linked to this work by shared authors, journal, and citation graph.

    Sort by
    Same author

    Cost of controlling the dengue vector Aedes aegypti in the Peruvian amazon.

    Revista peruana de medicina experimental y salud publica·2024
    Same author

    Road dust lead (Pb) in two neighborhoods of urban Atlanta, (GA, USA).

    International journal of environmental research and public health·2012
    Same journal

    The role of the administrator: History repeats itself.

    MGMA connexion·2018
    Same journal

    Should practices start offering pseudo-concierge memberships to patients for added benefits?.

    MGMA connexion·2018
    Same journal

    What to consider when changing your hierarchical structure.

    MGMA connexion·2018
    Same journal

    Rogue Valley Physicians finds innovative ways to provide cost-effective care.

    MGMA connexion·2018
    Same journal

    Going beyond satisfaction to ensure positive patient experiences.

    MGMA connexion·2018
    Same journal

    ICD-10: After the storm.

    MGMA connexion·2018
    See all related articles

    This study introduces a cost approximation method for healthcare practices, ensuring fair physician fees and encouraging productivity through a rational pricing strategy. The approach aims to maintain physician incomes while achieving organizational financial goals.

    Area of Science:

    • Health Economics
    • Healthcare Management
    • Medical Practice Administration

    Background:

    • Healthcare organizations face challenges in accurately pricing individual practices.
    • Negotiating fair physician fees is crucial for maintaining provider satisfaction and organizational financial stability.
    • Existing pricing models may not adequately account for productivity and profit margins.

    Purpose of the Study:

    • To develop and present a novel method for approximating the costs of multiple individual medical practices.
    • To establish a rational, analytic approach to healthcare pricing that incorporates profit margins and productivity incentives.
    • To demonstrate a strategy for communicating the fairness of negotiated fees to physicians and ensuring income stability.

    Main Methods:

    Related Experiment Videos

  • Development of a cost approximation formula for individual practices.
  • Integration of an acceptable profit margin into the pricing model.
  • Implementation of productivity-encouraging mechanisms within the fee structure.
  • Physician engagement strategy to communicate fee negotiations and income maintenance.

    • Main Results:

    • The presented formula provides a rational basis for approximating practice costs.
    • The method incorporates a profit margin and incentivizes increased productivity.
    • Physicians were convinced that negotiated fees were fair and that their incomes would be maintained.
    • The organization established a predetermined level of fees to ensure financial targets were met.

    Conclusions:

    • A systematic, analytic approach to pricing can effectively manage healthcare practice costs.
    • Fair fee negotiation and clear communication are essential for physician buy-in and satisfaction.
    • The developed method supports both financial viability and operational efficiency in healthcare organizations.