Physician Practice Solutions

In order for finance and clinical leaders to effectively collaborate, it is essential for them to not only comprehend, but also acknowledge the advantages to be derived from their divergent viewpoints on what defines success.

A fundamental principle of value-based care is that attainment of success relies upon both physicians and finance leaders contributing their indispensable skills. To achieve cost control and enhance patient outcomes, these leaders must collaborate in constructing efficient and effective care systems.

Regrettably, this close cooperation frequently faces a fundamental point of contention within the healthcare industry: the conflict between mission and profit. Although both physicians and finance leaders ultimately share the same objective, they employ vastly different approaches to attain it. Chief medical officers (CMOs) prioritize clinical performance to optimize patient outcomes, while CFOs prioritize financial performance to ensure business sustainability.

Many healthcare leaders view this distinction as a negative because it can lead to conflict and often ends in frustration. In order to avoid these issues, they try to avoid controversial topics and difficult conversations. However, this approach is a mistake as it shows a lack of respect for differences. It overlooks the crucial notion that a healthy amount of tension is necessary for success in any organization.

Therefore, Hereford Healthcare argue that succeeding in value-based care relies on the ability of physician and finance leaders to effectively manage their differences, while understanding why organizational tension can be beneficial. We suggest that physician-finance teams who work together, acknowledging their differences, are best equipped to control costs, enhance clinical outcomes, and provide the highest value for patients.

Service Offerings:

• Send Out RFP’s to potential buyers/sellers/partners
• Serve as a liaison for both buyer and seller to manage the process as smoothly as posiible
• Due Diligence
• File any and all regulatory documents
• Work with Healthcare organization’s leadership to provide a guide to a possible transaction
• Offer Post Transaction Transitional resources

Hereford employs seasoned and skilled practitioners who provide actionable and results-oriented solutions to enhance physician practice performance.

By implementing well-crafted performance improvement plans along with integrated reporting tools and dashboards, Hereford's professionals collaborate with physician practices to secure sustainable financial and operational outcomes.