MSO Services for Medical Practices
Management Service Organizations (MSOs) are a popular and useful tool for a wide range of medical practices to get access to more sophisticated enterprise-level centralized services. Often these services are either too difficult to create or too expensive to access for practices their own. With the proliferation of mergers and acquisitions creating supergroups, the need for independent MSO services has drastically increased.
There are a lot of areas of concern when executing a merger or scaling to sustain organic growth. Having a centralized execution for these core business functions is key to an efficient and profitable practice.
We all know there is a lot to manage in any medical practice of any size let alone one that is in the midst of growth. Whether its revenue cycle management, payor contracting, human resource issues, payroll, insurance benefits, malpractice and liability coverage, technology, business operations, executive leadership, value-based care initiatives, et al– HIS can provide 3 decades of experienced leadership to guide your practice through profound and sustained profitable growth. Think of our MSO model as the backbone and foundational support of your practice providing executive non-clinical leadership and services necessary to maintain a successful independent profitable practice.
As healthcare continues to transition from fee-for-service to value-based payment models and the trend for consolidation persists, the ability to leverage an MSO’s deep knowledge and experience can help independent practices stay independent and succeed in today’s challenging healthcare environment.
What HIS Can Do For Your Practice
Are you looking to grow your medical practice, have you partnered with a private equity group to scale, or has it reached a size that requires more professional-level services? At Healthcare Information Services (HIS), we proudly offer MSO services throughout the United States. We work with individual practices, systems, private equity groups, and even other MOSs to provide expert services to create efficiency and profitability.
Our team of experts works to understand your specific needs and goals to create a service offering tailored to your practice strategy and objectives.
Our MSO services at HIS include, but are not limited to:
- Revenue Cycle Management
- Billing and Collection
- Bundled Payment and Value-Based Care Programs
- Accounts Payable
- Payer Contract Negotiations & Credentialing
- Technology
- C-Suite Executive Leadership
- Human Resources
- Marketing
At HIS, we are dedicated to providing your medical practice with the tools and resources necessary to increase profitability, improve quality, and boost overall performance. In addition to our MSO solutions, check out our full range of industry-leading services.
Explore How You Can Pair MSO Services With Other Solutions For Your Practice
At HIS, we are dedicated to providing your medical practice with the tools and resources necessary to increase profitability, improve quality, and boost overall performance. In addition to our MSO solutions, check out our full range of industry-leading services.
Ready to grow your practice? Schedule a consultation for more information today.
Understanding The Management Services Agreement (MSA)
A management services agreement (MSA) is a contract between an MSO and a medical practice that governs the business relationship between the parties. The MSA should carefully detail all the services to be provided by the MSO, as well as the services not included in the agreement. It’s crucial to distinguish between the clinical functions of the practice and the non-clinical executive functions of the MSO. The fee charged by the MSO should be commercially reasonable and at fair market value. This is necessary in order to comply with safe harbors around Anti-Kickback, Stark, or Corporate Practice of Medicine statutes. The basic framework of a typical MSA would include the following:
- Term and termination provisions
- Restrictive covenants
- Indemnification provisions
- A security interest whereby the MSO has a lien on the practice’s accounts receivable, where permitted
- A detailed list of management services
- A fee schedule for management services
Key Advantages of Using A MSO
Many healthcare practices are struggling to thrive due to ever-changing regulations, the decline in reimbursement, and ongoing increases in expenses. An MSO may be the solution you need to reach your full potential. MSOs, and the functions they provide, come in many different shapes and sizes. Some of the main benefits we offer our clients as an MSO are:
- Cost savings (Billing, marketing, shared staff, etc.)
- Increased revenue
- Greater quality control
- Infrastructure to support growth and operate at scale
- Alleviation of major staffing issues
- Optimized technology
- Increased compliance
High-Quality MSO Services For Your Business
At HIS, we provide comprehensive and customized MSO services for medical practices, private equity groups, and other MSOs across the country looking to achieve long-term success. Our team will work closely with you to find the right solutions based on your unique needs and concerns. When you choose to work with HIS, you’ll have a trusted partner invested in the success of your practice. Contact us to learn more about our services or schedule a consultation today!
Healthcare Industry Updates and Articles
Read our most recent blogs and news from the world of medical billing and practice management.
