As hospitals look to reduce costs, bringing Physician Advisor (PA) services in-house often emerges as an attractive solution. After all, eliminating external PA contracts is an immediate way to save money. But is this approach as financially sound as it appears? Before making the transition, there are several critical factors worth considering.
Are You Truly Maximizing the Value of Physician Advisors?
Many hospitals view PA services as an expense rather than an opportunity for revenue growth. But is this perception causing you to overlook the actual financial impact of a well-supported PA program? With their specialized expertise and resources, external PA services often generate significant returns for hospitals by identifying revenue opportunities that might otherwise be missed. Are you confident that transitioning in-house will maintain or enhance these returns?
What Are the Hidden Costs of Moving In-House?
While an internal PA program may appear more cost-effective on the surface, have you considered whether it can fully meet the demands of your hospital? Physician guidance, including evenings, weekends, and holidays, is needed at all hours. Can your in-house staff consistently cover these needs without burnout or gaps in service? What about the additional administrative and operational burdens of managing a PA program internally? Is your hospital prepared to handle these complexities without sacrificing the quality and availability of PA guidance?
Are You Losing Access to a Broader Network of Expertise?
External PA services often come with the advantage of a robust support network, giving your hospital access to a broader range of expertise. This network can enhance the effectiveness of your PA program through shared insights, industry best practices, and collaborative problem-solving. By moving in-house, are you potentially isolating your PA team from these valuable resources?
Do You Have Access to the Industry Data You Need?
One of the strengths of working with an external PA service is access to industry benchmark data and advanced analytics. This data provides insights into how your hospital’s revenue cycle performance compares to other hospitals nationwide. Are you confident that transitioning to an internal program will offer the same level of data-driven decision-making?
Do You Have a Work Management Platform to Provide Your Teams With the Right Data at the Right Time?
As you evaluate your operational capabilities, consider whether you have a work management platform that equips your teams with the right data when needed.
Effective workflows improve visibility and help teams locate patient, clinical, and payor data quickly. With predefined, customizable workflows, users can navigate complex information more efficiently, reducing delays and improving accuracy. This approach enhances coordination among departments and optimizes revenue capture and compliance, all while boosting operational efficiency. Are you confident your current system can meet the demands of your evolving healthcare environment?
The bottom line
Transitioning to an internal PA program may seem straightforward and cost-saving, but the reality is often more complex. Have you thoroughly evaluated the potential trade-offs, including missed revenue opportunities, reduced access to expertise, and the potential for increased operational strain? Before leaping, it’s crucial to consider whether an internal program will genuinely deliver the financial and operational benefits your hospital needs.
Want to explore how external PA services can support your hospital’s financial health?
Learn more about Brundage Group’s approach and how our expert Physician Advisors can help you maximize revenue opportunities while maintaining compliance and quality care.
