5 Best Practice Contracting Strategies for Physician Groups

Posted By: Raymond O'Kelley / June 3, 2015

In this infographic, MediTract shares the top five best practices for physician groups.

  1. Establish a contracting compliance program at your organization, with resources to manage it day-to-day.
  2. Outline a standardized fair market value process for all contracts.
  3. All hospital-based contracts, even “no cost” contracts, should have fair market value documentation.
  4. Documentation should be a valuation using market data, the cost method, or a combination of both and attached as documentation to any contract or agreement.
  5. Complex hospital-based agreements will need a formal cost valuation.

5 Best Practice Contracting Strategies for Physician Groups

About the Author: Raymond O'Kelley

Raymond O'Kelley

Mr. O’Kelley brings more than 20 years of healthcare experience in the Governance Risk and Compliance "GRC" space. He has addressed contracts and conformance matters serving as MediTract’s vice president of Client Retention for more than three years prior to serving in his current role as national vice president of Sales. In addition to those duties, he has worked with acute care, physician practice groups, postacute care and payer organizations by providing them with guidance and recommendations for optimized implementations and operations of MediTract products. He is a 10-year active duty veteran of the United States Marine Corps and medically retired in 1992 after the Persian Gulf War as a disabled Marine.