Although the recent trend in healthcare has been for the consolidation of smaller medical groups into larger Accountable Care Organizations (ACOs), some private practice owners are hesitant to lose their autonomy. Companies like Privia and Aledade offer an alternative.
According to Forbes, these companies “are forming physician-led ACOs, stitched from practices as small as one doctor.” This is not an uncommon phenomenon—more than half of Medicare ACOs are led by physicians.
One Privia network has more than 200 healthcare providers. Physicians receive “piece of equity in the group, but turn over billing to Privia which also levies a management fee.” The network works to lower costs and retain the savings, which Privia shares with Medicare.
These networks lower costs by making it easier for health officials to collaborate and provide coordinated care for patients. They also use new technology like cloud-based electronic health records “[t]o meet quality measures set by Medicare.”
Summary by MedicalGroups.com
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