With shared ownership in their medical practices, members build equity while gaining the benefits of shared services including group purchasing, professional HR and billing platforms, modern marketing, and a consolidated Electronic Medical Records platform.
OnPoint Medical Group developed our Physician Ownership Model to drive patient growth, a positive practice culture, financial profitability and business sustainability — all leading to value and wealth creation for the owners.
“As a Practice Owner, What Does My Future Hold?”
THE PROBLEM WITH THE INDEPENDENT PRACTICE MODEL.
Medical Economics – poor reimbursements and growing costs driven by:
- No leverage with payors
- Physician recruitment
- Hiring and retention of staff
- High medical supply costs
- High debt load
- Growing complexity with CMS and commercial payors driving need for more sophisticated systems
- Regular source of capital for growth and the changing technology requirements
- Lack of a viable platform (e.g., EHR, processes) that adapts to a dynamic, changing environment (obsolescence)
- Lack time and energy to properly pinpoint the problems
- Inadequate process & tools to drive quality and outcomes
- Need for partners who are seasoned in billing/collections, strategy, investments, etc
At OnPoint Medical Group, we consistently hear the following:
- Why does the ongoing “overhaul” of the medical industry seem so overwhelming?
- How do I spend more time with my patients and less time managing my Practice?
- I should have a solid plan for retirement, but I don’t. How do I make up for lost time and implement a workable plan?
- Everyone seems to be arguing that the Independent Practice model is no longer viable. Are they right?
- Is hospital employment my only real option? What if that option isn’t appealing to me or isn’t available?
- Is the Practice I have committed my career to building really “worthless”? Is selling to a hospital my only option for value creation?
- Is there another option that would allow me to practice and eventually retire on my own terms?
…are there any answers? What are my options?
BENEFITS OF JOINING ONPOINT MEDICAL GROUP
Through the OnPoint Medical Group Physician Ownership Model, our owner-partners have a path to meet all of their key objectives and concerns, while enjoying wealth creation and greater satisfaction in their work.
- Avoids the hospital-driven directives, protocols and standards for greater provider autonomy and decision-making
- Retains the “small office” feel
- Providers can focus on practicing medicine, enhancing patient relationships and engaging in the local community
- OMG takes leadership on the strategic and administrative aspects of the “business of medicine”
- Cross-referral and cross-marketing among the network and within the community (“hyper-local”)
- Providers are focused and “invested” in both the network and their clinics
- Private Equity-backed
- Deep resources to reward excellence / results and growth opportunity
- Unified technology, processes, business model, tools, ancillary services
- Lower cost, patient-centric care model focuses on high quality outcomes and processes for managing overall health system costs (e.g., primary care + urgent care vs. emergency room vs. in-patient care facilities)
- Superior fee-for-service and appropriate risk-based reimbursements from payers through focus on quality and patient outcomes
- Realize value for your practice today while retaining an ongoing interest in future cash flows
- Opportunities for all Providers (owners/partners and employed) to secure improved compensation
- “Provider Network” organized in Colorado
(expanding to other states).
- OnPoint Medical Group provides capital investment for growth …shares in risk / reward
- Physicians maintain control over all medical decisions… OnPoint focuses on business leadership
- OnPoint Medical Group provides experienced business leadership and Shared Services (Finance, IT, Human Resources, Marketing, etc.)
- Physicians within individual medical practices focus solely on practicing good medicine under a guaranteed
compensation arrangement and have a direct economic interest in the practice
What Is The Process Of Becoming Part Of The OnPoint Medical Group Network?
OnPoint Medical Group goes through four key steps as we work toward a new partnership. The process usually takes 30 to 60 days depending on complexity of the practice, number of owner physicians, financial state, etc. Potential partners have time to review the structural agreements while final valuation is determined and documented on the term sheet. As not all attorneys are specialists in provider networks, we have some outside counsel (not affiliated with OnPoint Medical Group) that we can recommend that have worked with other OMG partners.
1. Full presentation and Non-disclosure agreement (NDA)
2. Indication of interest
3. Commencement of diligence
4. Agreed term sheet upon successful completion of diligence
5. Written agreements
7. Commence joint operations
We understand that this is a significant decision for our partners, and some are more comfortable engaging with us for a portfolio of OnPoint services before moving into the partnership model. If this is true for you, we look forward to securing your trust first. Afterwards, we believe you will want accelerate the full Physician Ownership Model and the wealth creation it drives.