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Pages:
4 pages/β‰ˆ1100 words
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Style:
APA
Subject:
Business & Marketing
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Other (Not Listed)
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
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Topic:

Analysis of the Conversion of Physicians From Employees to Contracted Providers

Other (Not Listed) Instructions:

Instructions
In this assignment, you act as the CFO (Chief Financial Officer) of a small rural hospital with 35 beds serving lower to middle-income populations. The city owns it, and the top 3 payers are Medicare, Medicaid, and self-pay/uninsured. Your new CEO (Chief Executive Officer) is from an urban area in the state whose hospital was regional, with 250 beds.
She is evaluating the current financial situation where the physicians are salaried by the hospital as employees. She speculates that under the continued changes with VBC (value-based care) and the hospital’s payer-mix, physicians be converted to contracts so that there are fewer hospital expenses such as physician employee benefits, salaries, and less organizational risk. The outcomes can be more effectively managed to give the hospital the ability to pay based on productivity and accountability since that is what the insurers are paying the hospital.
Select a position for or against the conversation to physician contracts from hospital employees based on business analysis and reply to the CEO in memorandum format. The memorandum must be comprehensive and detailed to present your position, address each CEO’s foundation for consideration, and any data or evidence to support your financial and business position.
While the memorandum should be formatted as such, any external sources should be properly cited at the end of the memorandum in APA to document external sources and originality on your part.
Grading Criteria
Student writing should be at the academic level, unbiased language in the third person, and proper healthcare and legal vernacular.
Assigned papers will require APA formatting (most current edition), including the title and reference pages. If you are unsure how to format using APA style, please see the Writing Center or Syracuse Library Citation Guide: APA .
Excluding the APA title and reference pages, the papers should be between 1,000 - 1500 words in the body. The word count requires the substance to be concise, robust, logical, and demonstrate complete knowledge of the weekly content. Although not in proper APA formatting, please include the word count for the paper's body at the very bottom of the title page. For assistance with determining the word count, please see the following Microsoft Word resource.
The body of the paper should include first level APA headings for all content or topics when required. Having the required content as first-level headings will support students in meeting the content requirements and the paper's focus on the required subjects. Students are welcome to add subheadings at the second or third levels, but the first level is required. The APA Style Headings can assist with formatting headings.
All sources used within the paper's body (directly and paraphrased) must be cited in the body of the paper and on the required reference page per APA requirements and should not exceed 20%. Content from other sources that exceed 20% could indicate a lack of originality or possibly plagiarism and will be addressed following the Academic Integrity Policy noted below.
Third-party plagiarism software, such as Turnitin, may be used to assess the originality of a student's work in any assignment, papers, and quizzes, or exams to rule out plagiarism. NOTE: a link is provided in the course for students to submit a DRAFT Turnitin submission for a pre-review before submitting for grading to meet course and SU requirements.
The quality of the content will be assessed using the attached rubric. All criteria in the category must be met to earn the full points. See attached rubric.
Submitting your Assignment
Students will submit written assignments to Blackboard for grading in a .doc or .docx file type. There are 2 attempts with the last one submitted to be graded.

Other (Not Listed) Sample Content Preview:
Memo
To: CEO, ATX Rural Hospital
From: CFO, ATX Rural Hospital
Subject: Analysis of the Conversion of Physicians from Employees to Contracted Providers
Date: April 3, 2023
Introduction
This memorandum is in response to your request to analyze converting physicians from employees to contracted providers in our hospital. As the Chief Financial Officer, I have analyzed the financial and business implications of this proposal and assessed the foundation for the consideration of this proposal. In this memo, I will present my position and provide supporting evidence.
Position Statement
Upon thorough analysis of the current situation at our hospital, I strongly recommend that our physicians remain as employees rather than being converted to contracted providers. This conversion would have substantial implications on the hospital's financial standing and operations, which may not be favorable considering our payer mix and the continued changes with VBC (value-based care).
Analysis
Financial Implications
Value-based care is a healthcare delivery model that rewards healthcare providers based on the quality and effectiveness of their services rather than the number of services provided. This model aligns healthcare providers' incentives to improve patient outcomes and reduce healthcare costs, which is one of the primary objectives of our healthcare organization. However, to succeed under a VBC model, healthcare providers must work together to coordinate care, avoid unnecessary services, and prioritize preventive care (Sorenson et al., 2020).
Many hospitals and healthcare systems have shifted towards a VBC model in recent years. This shift has led to changes in how hospitals and healthcare providers are paid, with a greater emphasis on quality and outcomes. Hospitals are now reimbursed based on the value of their services rather than the volume. This shift has created financial incentives for hospitals to improve quality, reduce costs, and better coordinate care (Bogan, 2019). This should also be our primary goal in managing our organization.
One of the primary reasons for converting physicians to contracted providers is to reduce hospital expenses and organizational risks. This proposal assumes that contracted physicians will be paid based on their productivity and accountability, resulting in cost savings for the hospital. However, this assumption may only hold for some hospitals, particularly those with a unique payer mix.
Accordingly, our hospital has a unique payer mix, with Medicare, Medicaid, and self-pay/uninsured patients being the top three payers. Regulatory agencies determine Medicare and Medicaid reimbursement rates, and the hospital has little or no control over these rates. Self-pay/uninsured patients are typically charged a higher rate to offset the cost of providing services to these patients. If physicians are contracted providers, their payment will be based on productivity and accountability, which may result in reduced payment if patients cannot pay (Arora et al., 2015). As a result, our hospital may need financial assistance in providing services to our patients.
For example, under a VBC model, hospitals are incentivized to improve patient outcomes and reduce readmissions. This requires...
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