| Preemptive financial strategies help IPAs avoid insolvency. | |
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MedLine Citation:
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PMID: 11688057 Owner: NLM Status: MEDLINE |
Abstract/OtherAbstract:
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The 1999 collapse in California of practice management giants FPA Medical Management, Inc. and MedPartners, Inc. has caused healthcare provider organizations, particularly independent practice associations (IPAs), to examine critical issues related to financial solvency. Problems such as declining membership, ineffective management, weak contracting, and lack of strategic vision frequently are encountered by troubled provider organizations. The common thread that runs through IPA failures is a combination of unreliable accounting data and inadequate reporting systems. This lack of satisfactory financial and reporting information impairs the ability of the provider group to maintain sufficient funds to cover expenses and pay physicians. Successful, financially stable provider networks use well-defined reporting procedures based on fundamental accounting and financial concepts, as well as a sound methodology for measuring and calculating claims liability estimates. In California, new regulations aimed at encouraging provider organizations to assume preemptive financial strategies are in the process of being adopted. IPAs in every state should consider reviewing these regulations as benchmarks by which to assess their financial procedures. |
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Authors:
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J Karling; L Silberman |
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Publication Detail:
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Type: Journal Article |
Journal Detail:
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Title: Healthcare financial management : journal of the Healthcare Financial Management Association Volume: 54 ISSN: 0735-0732 ISO Abbreviation: Healthc Financ Manage Publication Date: 2000 Nov |
Date Detail:
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Created Date: 2001-11-01 Completed Date: 2001-12-07 Revised Date: 2004-11-17 |
Medline Journal Info:
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Nlm Unique ID: 8215859 Medline TA: Healthc Financ Manage Country: United States |
Other Details:
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Languages: eng Pagination: 64-6 Citation Subset: H |
Affiliation:
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CBIZ/Karling Health Care Consulting, San Ramon, California, USA. jim@karling.com |
Export Citation:
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APA/MLA Format Download EndNote Download BibTex |
| MeSH Terms | |
Descriptor/Qualifier:
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Accounting Bankruptcy California Financial Audit Financial Management / methods*, standards Humans Independent Practice Associations / economics* Management Information Systems / standards* Reimbursement Mechanisms |
From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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