Independent Practices Can Thrive by Working Together
By Kelsey Oliveira
As many private practices look to remain independent, they still search for ways to reap the benefits, resources, and financial support many hospital or health systems receive. “One solution lies in creating, or joining, an independent practice association (IPA) and/or a clinically integrated network (CIN). IPAs provide practices with many of the clinical support services, technological resources and group purchasing advantages enjoyed by hospital systems and large multispecialty practices while allowing their members to remain independent.” Currently, there are over 300,000 physicians across 677 IPAs, as stated by the IPA Association of America (TIPAAA). In a CIN, practices operate under a corporate umbrella, such as an LLC, where they combine cost and quality data to deliver high quality care. “CINs and IPAs as frameworks within which doctors can work together to prepare for the end of fee-for-service medicine and its replacement by forms of value-based care,” said Tom Bannon, the CEO of the Texas Academy of Family Physicians in Austin.
To learn more about how independent practices can thrive together by forming an IPA or CIN, click here to read the article or view our additional solutions below.
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Kelsey Oliveira is a Marketing Specialist at Amazing Charts and joined the company in 2019. She enjoys providing useful content and resources to help independent practices thrive.