The for-profit subsidiary was created to provide an option for physicians wanting to remain independent but who may have otherwise had difficulty affording expensive EMR systems that will eventually be required of practices to receive full reimbursement from government payors. IPS also plans to bring together participating providers for contract negotiations with private payors to improve payment rates.
Participating practices will pay IPS a maximum of 7.75 percent of their collections, depending on their annual revenues, to join the network. Practices must also pay a $200 per month fee per physician and a one-time licensing fee of $9,000 per physician, according to the report.
To date, 14 practices have joined IPS.
Read the Beacon Journal report on Sisters of Charity’s independent physician network.
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