(305) 273-9100
From human resources issues to finding the best pricing for supplies, there can be a lot to manage in the day-to-day running of a healthcare business, which is where a management services organization (MSO) can help.
An MSO is a corporation that provides administrative support to medical practices and healthcare organizations. It can play an important role in the everyday management of small and midsize businesses by ensuring that they are functioning effectively and providing the best care possible to patients. Find out more here about how an MSO can help you achieve the best for your business.
What Is the Role of an MSO?
MSOs provide a range of services to help healthcare facilities manage their nonclinical and management activities efficiently. They work closely with physicians to improve healthcare outcomes and patient quality of care while at the same time helping to lower the overall medical costs. Outsourcing these services to an MSO can help organizations to operate more efficiently and better focus their efforts on other key areas, such as supporting patients in their treatment and recovery rather than business-related duties.
Services can vary between MSOs, and your business needs will determine the best type of MSO for you. Some of the key areas in which an MSO can assist your practice include:
- Financial management and payroll services
- Operational issues
- Monthly management reports
- Human resources and personnel management
- Contract management and credentialing
- Coding, billing, and collection services
- Practice management/billing systems
- Ensuring regulatory compliance
- Risk management
- Staff education/training
- Support physicians in areas such as case management, HEDIS compliance, pharmacy management, and formularies
- Care management, such as referral management, chronic care management, acute case management, drug utilization review, and member outreach
- Providing/managing office space and maintaining office equipment
- Managing supply inventory
- General support such as electronic health record (EHR), administration, and marketing and sales
What Are the Benefits of an MSO?
An MSO can assist small and midsize businesses in managing their administration tasks more efficiently. Outsourcing these services allows a practice to focus on their key responsibilities such as supporting patients and helping patients to successfully manage their conditions. By joining an MSO, it also helps to ensure the lowest pricing on a range of services, such as healthcare insurance, and medical equipment. Many MSOs also provide billing services which allows a practice to outsource that area of business completely.
There are a number of benefits offered by an MSO, including:
- Specialized expertise in areas such as billing, risk management, and personnel management
- Access to advanced information systems and technology
- Preferred prices from insurance providers and equipment suppliers
- Cost predictability
- Better scalability for growth
- Training and development opportunities for staff
How Premier Physician Support Services Can Help
At Premier Physician Support Services, our role is to assist primary care physicians (PCPs) in managing and coordinating patients’ healthcare needs effectively. As a successful MSO, we are committed to providing the best in service, education, training, and orientation to our network of physicians with a focus on operational excellence.
We provide a range of services that make obtaining high-quality treatment easier and more affordable for patients. In addition to this, we work to provide information via technology in order to achieve higher productivity and profitability to allow your business to grow. Our main areas of expertise involve:
Information Systems
We use advanced data warehouse and management reports to track all patient contact with the PCP, including claims resulting from specialist visits, pharmacy, or hospitalizations. The data is then converted into user-friendly reports to help PCPs manage patient care effectively.
Infrastructure
Our experienced staff work closely with the PCPs on:
- Providing actionable management reports
- Specialty contracting and network opportunities
- Specialty referral patterns
- Care management and member outreach
- Pharmacy utilization analysis
- Hospital and home health census management
- Healthcare Effectiveness Data and Information Set (HEDIS) training and compliance
- Reducing administrative burdens and barriers to effective care
- Medicare risk adjustment education and training
- Ensuring that physicians remain highly accessible to their patients
- Marketing activities
- Quarterly physician’s meetings
- HMO and contract compliance
- Improving office workflows and efficiencies
Incentives for High-quality and Cost-effective Care
We offer performance-based bonuses to PCPs which allows them to achieve greater reimbursement for primary care services compared with the market standard. This helps to save the healthcare system money.
MSO To Improve Your Business, in South Florida
If you would like to learn more about how an MSO could help your business, contact Premier Physician Support Services today. Owned and operated by physicians and experienced healthcare executives with a combined 50 years of managed care experience, Premier Physician Support Services is here to help your business succeed.
We work closely with PCPs to improve patient quality of care and outcomes while lowering medical costs through the development of new information technologies and care improvements.
To find out more about us, contact our expert team of providers at (305) 273-9100.
