Hospital and health system CFOs and other executives believe the rate of physician employment will continue, but 76 percent don't expect positive ROI as a result, according to Healthcare Financial Management Association's most recent "Executive Survey on Hospital-Physician Affiliation Strategies."
The survey, published last year, was conducted among 139 hospital and health system CFOs and vice presidents of finance.
Less than a quarter of respondents, 22 percent, said they intended to maintain their current physician strategy, while most respondents, 30 percent, said they planned to increasingly pursue clinical co-managements, directorships or other professional arrangements. Twenty-six percent of executives said they intended to increasingly pursue professional service agreements, and 25 percent indicated they will pursue joint equity or ownership ventures.
Only 24 percent of respondents reported they believe their organization will achieve a positive ROI after two years of physician employment.
Only 15 percent of survey respondents considered their organizations very prepared to manage physician infrastructure and alignment within an accountable care environment. Sixty-one percent considered their organizations to be somewhat prepared and 24 percent said they were not at all prepared.
The CFOs and vice presidents of finance responding to the survey indicated they were largely dissatisfied with processes of their employed physician groups. Eighty-eight percent of respondents said they were only somewhat or not at all satisfied with processes of physician coding and documentation, 83 percent said they were only somewhat or not at all satisfied with processes of physician collections and 82 percent reported this level of dissatisfaction with physicians' use of health IT.
Survey respondents did note that growth of physician employment can play a role in improving care coordination, market share, physician engagement and referrals. Seventy-two percent of respondents indicated anticipating improvements in coordination of care after two years of physician employment, 55 percent expected improved market share and 54 percent expected increased physician engagement in meetings and more referrals.