As we know, healthcare is a huge deal. However, something you might not have known is that by 2025, healthcare in both private and personal spending will be one fifth of the GNP according to the Peter G Foundation. This means the pressure is on to engage physicians.
Most hospitals still rely on paper time logs to manage their physician administrative agreements. Ludi’s hospital clients have realized many benefits from a physician software solution that automates paper time logs and creates benefits for physician users and hospital administrators that oversee physician payments. Physician contract logging software is the solution for assisting physicians when logging their medical directorships, on- call, or co management administrative agreements with their hospital partners.
Our hospital clients have let us know that the handling of physician administrative contracts is a “hot potato” within their administrative team. Nobody seems to want to fully own the issues that come along with these complicated contracts; everyone seems to own a piece of physician administrative contracts such as compliance, medical staff offices, hospital administration, legal teams and the finance department.
At Ludi, our sole focus is physician administrative contracts. These are the legal vehicles that contain a variety of administrative services that physicians provide to hospitals that are not clinical. These services include medical directorships, on-call, co-management agreements, and physician committee work to name a few. We work with various sizes of health systems and have noticed several patterns, regardless of size, that all hospital administrative teams fall into when automating their manual processes that currently support their payment processes and executive of their physician contracts.
Hospital finance and accounts payable teams have a tremendous amount of pressure and responsibility placed on their physician payment processes. They have to follow accounting procedures, operational and financial hospital workflows, and keep track of what they do for perpetual audits.
Hospitals and their many contracts have long been determined as a problem to manage. Several organizations have created top-of-the-line software for hospitals to eliminate paper, wasted time, and automated preparation for those looming threats of an audit.
Hospitals need physician partnerships in nonclinical settings and activities. Many hospitals often choose physician arrangements known as “medical directorships." These arrangements designate a physician leader to be responsible for a number of activities related to the delivery of medical care and clinical services. The "activities" typically include things like cost management, utilization review, quality assurance, and medical protocol development. Medical directorships are a popular partnership vehicle to assist the hospital in necessary clinical administrative leadership. They also align their physicians as partners for smart and intuitive direction. Read on to learn what should (and shouldn't) exist in an optimal medical directorship contract.