Across the nation, independent physician practices were struck by the devastating effects of COVID-19. For some Texas physicians, value-based care solutions provided new means to lower costs, maintain high standards of care, and collaborate across network.
Texas-based healthcare services organization MPOWERHealth saw substantial changes during the pandemic while offering specialized value-based care solutions for independent physicians. The company offers physician solutions, partners with employers, offers digital health solution, and works to create price transparency. MPOWERHealth CEO Scott LaRoque shared his insight on the future of healthcare, the importance of solid data infrastructure, and the adaptability required to address changes.
LaRoque on the challenges independent physicians face:
“Solving problems alone as independent physicians creates problems when trying to effectively tell their story and show their value to the marketplace in a consolidated market swamped by headwinds. In a consolidating market, healthcare systems are buying practices. Private equity or private capital are buying some of those practices, so [services are] providing the necessary tools and infrastructure so that these practices can make it before they have to make these decisions.”
LaRoque on having proper data infrastructure:
“With the national shift towards value-based care, quality and cost intersect. This necessitates having proper data infrastructure, resources to interpret that data, and the drive to make changes within a group, and a fair amount of organizational capacity. Collection of data and insights has become more standard in healthcare, because effective financial and clinical data benchmarking is proving critical to understanding physicians’ progress.”
LaRoque on physician focus going forward:
“When dealing with COVID, patient engagement systems, or means for physicians to interact with patients, have become really critical. Telehealth solutions, additionally, provide a great opportunity to expand care outside of the typical geographic confines that exist within a face-to-face business structure.”
LaRoque on driving innovative solutions in the healthcare industry:
“For leaders of healthcare businesses, it’s important to utilize specific physician practices, identify appropriate continuous improvement models, and implement those within the practice. Improving quality is at the heart of value-based care. Continually reviewing and applying data allows healthcare leaders to better understand where they sit today and how to make improvements for the future.”
LaRoque on adapting to continual healthcare practice changes:
“As healthcare shifts towards rewarding providers for the outcomes, we think physicians should identify what sets themselves apart and makes them different in a positive way. Constant review and understanding of the practice allows for purposeful change and improvement, through evaluation of key performance data and tangible indicators.”