Independent Heartbeats:
News & insights for independent cardiologists
Welcome to the latest edition of Independent Heartbeats, tailored for independent cardiologists and practice managers. In this issue, we explore who’s happier… employed or private practice physicians? Plus, the nuances and opportunities of value-based care, an increasingly vital approach for independent practices seeking to enhance patient outcomes and operational efficiency. We’ll also shed light on the rising trend of home-based care, a key focus area that aligns with evolving healthcare needs and patient preferences.
If you need help with any of these issues that are permeating your practice, we’re here to help! We’re now in seven independent practices across the nation, supporting physician-owners and their care teams in delivering best-in-class care to their communities. From optimizing revenue cycle to improving clinical workflows to supporting growth efforts–we’ve done it all. Book time directly with us: shoot me an email directly at [email protected] or book time for us to chat using our calendly link: https://calendly.com/cardioone/partnering-with-cardioone.
As always, we aim to provide insightful perspectives and practical advice, helping you navigate the dynamic world of cardiology. Let’s dive into this month’s issue!
Best,
Jasen Gundersen, MD
Industry Buzz:
Hot Topics in Independent Practices
- Using a value-based enterprise to effectively provide value-based care
- At a glance: Recent regulatory changes and new value-based payment models create opportunities for independent physicians to participate in value-based care arrangements. Independent doctors can benefit financially by collaborating in value-based enterprises, integrating specialty care, and providing high-quality and cost-efficient services while improving patient outcomes.
- What you should know: This shift empowers independent physicians to innovate and thrive in the movement toward value-based care. Regulatory changes have opened new doors for independent doctors to collaborate, integrate specialty care and focus on value. While adapting to this new paradigm involves challenges, independent physicians are well-positioned to deliver nimble, personalized care that drives better outcomes. The future is bright for those able to embrace this transition.
- At a glance: Recent regulatory changes and new value-based payment models create opportunities for independent physicians to participate in value-based care arrangements. Independent doctors can benefit financially by collaborating in value-based enterprises, integrating specialty care, and providing high-quality and cost-efficient services while improving patient outcomes.
- Employment vs Private Practice: Who’s Happier?
- At a glance: While employment by hospitals or large groups offers advantages, many doctors still prefer independent practice, which allows greater autonomy, flexibility, and career fulfillment. Private practice remains an attractive option, especially for specialties like cardiology that can thrive without direct hospital involvement.
- What you should know: The concept of private practice still holds significant allure for many physicians. Despite healthcare landscape changes, the passion of those in private practice shows that professional autonomy remains achievable. Independent cardiologists find deep satisfaction in the flexibility and patient relationships inherent to private practice. We’ve heard firsthand many hospital-employed physicians who want out. They’re burnt out and looking for alternatives to keep practicing medicine without the pressure from corporate entities.
- At a glance: While employment by hospitals or large groups offers advantages, many doctors still prefer independent practice, which allows greater autonomy, flexibility, and career fulfillment. Private practice remains an attractive option, especially for specialties like cardiology that can thrive without direct hospital involvement.
- Experts Fear Private Equity Will Pour Gas on Cardiology’s Overuse Problem
- At a glance: The rapid acquisition of cardiology practices by private-equity-backed groups raises concerns about the overuse of procedures like stenting, given the history of financial incentives driving up volume. While private equity injects capital into cardiology, it may also exacerbate issues like performing unnecessary procedures, putting patients at risk and further increasing healthcare spending.
- What you should know: Independent cardiologists should carefully evaluate the implications of private equity ownership in their practice, as it may lead to increased pressure for profitability and potential overuse of medical procedures. Maintaining a patient-centered approach is key, emphasizing shared decision-making and individualized care plans to ensure the best outcomes for your patients.
- At a glance: The rapid acquisition of cardiology practices by private-equity-backed groups raises concerns about the overuse of procedures like stenting, given the history of financial incentives driving up volume. While private equity injects capital into cardiology, it may also exacerbate issues like performing unnecessary procedures, putting patients at risk and further increasing healthcare spending.
- Independent physician practices can keep up with larger consolidated practices in a pandemic
- At a glance: Contrary to expectations, independent physician practices outperformed larger integrated medical groups during the pandemic by adapting quickly to maintain patient volumes and transition to telehealth.
- What you should know: The pandemic revealed the resilience of independent practices, suggesting concerns about their decline may be overstated. I’m encouraged by data confirming the adaptability of independent practices. This also reinforces the value of the clinical autonomy and doctor-patient relationships that independent cardiologists can provide.
- At a glance: Contrary to expectations, independent physician practices outperformed larger integrated medical groups during the pandemic by adapting quickly to maintain patient volumes and transition to telehealth.
Cardiology Practice Insights
- Bridging the Heart-Mind Care Gap for Better Patient Care
- Hear directly from one of our physician partners, Dr. Paulraj Samuel, who is based in Houston. The intricate relationship between heart health and mental well-being is undeniable. Incorporating mental health care into cardiology practices is necessary to enhance patient outcomes. Collaborating with patients and using screening tools and technology can help cardiologists bridge that gap. Learn more about the role of cardiologists in this synergy in our blog.
CardioOne in the News
- CardioOne picks up seed funding, inks new partnerships with independent cardiology practices
- We’re thrilled to announce our expanding partnerships with independent cardiology practices in New Jersey, Florida and Pennsylvania. These collaborations mark an exciting step forward in our mission to support independent cardiologists and facilitate their transition to value-based care models.
