What is a Management Services Organization?
A Management Services Organization (MSO) is a company formed for the express purpose of providing services to assist private practice physicians with the management of their independent practice. Participation in an MSO supports efforts to achieve administrative costs reduction and negotiate favorable terms, conditions and pricing for numerous support services.
Why are Management Services Organization’s formed and who benefits?
MSOs are formed to help independent physicians and their staff stay focused, lean and productive. When MSOs are built correctly and embody a valuable mission, everyone benefits — physicians in independent practice, patients and the acute care facilities serving the needs of the medical community.
Will independent community physicians have an ownership interest in Physician Alliance of Stamford?
Physicians may have an ownership interest in the future, depending upon interest by the physician community and the profitability of Physician Alliance of Stamford as an entity. Stamford Health commits to a physician-driven organization focused tightly on the needs of physicians in independent practice. Stamford Health recognizes that these are challenging times to raise capital for a start-up venture such as the Physician Alliance of Stamford. Over time and with sufficient physician support during the early stages, Physician Alliance of Stamford may become an investment opportunity.
How will Stamford Health recoup its investment in Physician Alliance of Stamford?
It may take a number of years for Stamford Health to recoup its investment in this business. In the early years of Physician Alliance of Stamford, we anticipate up-front expenses associated with hiring professional staff, business development, marketing and product development. Stamford Health intends to utilize existing hospital management resources and support services to achieve economies and to reduce start-up costs. Physician Alliance of Stamford will realize success by offering its members a suite of products and services that reduce independent practice’s operational expense and improve margins.
Will Physician Alliance of Stamford provide full MSO services?
Physician Alliance of Stamford is designed to develop in phases. Phase I is the launch of several key services needed by independent practices. These services are designed to save you money, reduce paperwork and improve operations. These services have been vetted by an Advisory Board of your physician colleagues and are products and services developed to enhance the independent physician practice of medicine.
Who will be eligible to join Physician Alliance of Stamford?
Physicians who are members of the Stamford Health medical staff are eligible for consideration in membership.
What happens to my practices ancillary staff?
Advanced Practice Professionals will be eligible to join Physician Alliance of Stamford as separate members.