How MSO Services Provide Support for Doctors

If you are finding it difficult to stay on top of the non-medical aspects of your business, a management services organization (MSO) can help. MSO’s provide a variety of services to help in the day-to-day running of healthcare practices and organizations. This can include activities such as managing operational issues, coding and billing, risk management, and much more.

Here’s more about how an MSO can provide support for your medical practice.

What Is an MSO?

An MSO is an organization that provides administrative and business-related support to medical practices and other healthcare organizations. There are many benefits to having an MSO coordinate the non-medical aspects of a practice. As well as providing a wide range of services, including billing, human resources, personnel, and managing operational issues, they can, at the same time, help to lower medical costs. This allows doctors and other medical professionals to focus on what they do best – caring for their patients.

With a strong focus on quality care and improved healthcare outcomes, an MSO can provide a practice with the peace of mind that their business is running effectively. Outsourcing administrative services to an MSO can help organizations operate more efficiently and succeed in an ever-changing healthcare industry.

What Services Can an MSO Provide?

MSO’s and their services can vary depending on the needs of a business. In some cases, a practice may only require a single service or function but for other organizations, they may choose to outsource a majority of their administrative duties to an MSO.

MSO’s can assist your practice in many different key areas, helping to streamline your business. For example, many MSO’s provide billing services, which enables a practice to outsource that area of their business completely. The services and functions of an MSO are outlined in a contractual management service agreement and could include assisting with a range of different activities, such as:

• Financial management and payroll services
• Human resources and personnel management
• Operational issues
• Coding, billing, and collection services
• Practice management
• Monthly management reports
• Contract management and credentialing
• Supporting doctors and physicians in areas such as case management, HEDIS compliance, pharmacy management, and formularies
• Ensuring regulatory compliance
• Risk management
• Staff education/training
• 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

Benefits of an MSO Managed Practice

An MSO can assist medical practices in managing their administration tasks more efficiently. Outsourcing administrative and business-related responsibilities, which can be complex and time-consuming, allows practices to better focus their efforts on other key areas, such as supporting patients in their treatment and recovery. Using an MSO also helps to ensure the lowest pricing on products, such as healthcare insurance and medical equipment.

Besides streamlining the functioning of a practice, they can better support doctors and other professionals by providing specialized expertise in various areas, such as risk management. Part of their role is to identify potential risks and things that could go wrong within the business and to implement the necessary changes to minimize the level of risk. Other benefits associated with an MSO include:

• Access to advanced information systems and technology
• Cost predictability
• Better scalability for growth
• Improved staff training and development opportunities
• Preferential prices from insurance providers and equipment suppliers

MSO Services in South Florida

If you would like to learn more about how an MSO could support your business, contact Premier Physician Support Services today. We assist medical practices in managing and coordinating their business effectively to lower medical costs and improve patient quality of care and outcomes.

We provide a range of services that make obtaining high-quality treatment easier and more affordable for patients. We focus on three main areas of expertise, including improving business infrastructure, the use of advanced information systems to help medical staff manage patient care effectively, and providing incentives for quality and cost-effective care.