What Is An MSO?
A Management Services Organization (MSO) is an administrative vehicle used to manage healthcare practices.
An MSO has many unique benefits to provide to a group of physicians or providers, allowing mergers with other groups and unprecedented growth. The MSO is essentially an administrative aspect of the provider group that is paid a fee for managing the non-clinical functions of the provider group. The MSO concept became popular in the 1990s with large provider groups being “purchased” by the MSO parent whereby the physicians were put on a guarantee as a condition of the purchase agreement. The problem was that the physicians reduced their output because the guaranteed salary was detrimental to the growth of the MSO. As such, the majority of the MSO groups from that time period could maintain solvency.
Over the past 10 years, the MSO model has seen significant growth in the medical field. At an initial glance, the MSO can manage a practice’s billing and collections, accounting, legal, IT/EMR infrastructure, equipment leasing, office space leasing, human resources, compliance, marketing, and research. As the MSO accrues more physician groups, there can be an economy of scale where costs are reduced for the MSO to provide its service to the members. The more physicians managed by the MSO, important claims data, outcome research, and even quality can be part of the overall scope. As the MSO grows in time, it can also be used to negotiate payor contracts with specialty markets depending on the number of providers and volume of clinical care.
The majority of our providers are Out-Of-Network (OON) and that is our specialty for existing providers or for those providers that want to go out of network.
What does Hudson MSO provide?
Hudson MSO will provide your practice with management services that include the following disciplines. Please advise if your practice requires additional requirements that may not be listed below.
- Operational Issues
- Financial Management
- Human Resources and Personal Management
- Staff Education and Training
- Coding, Billing and Collection Services
- Providing and Managing Office Space
- Discounts and provision of EHRs and medical equipment
- Regulatory Compliance Oversight and Management
- Credentialing and Contract Management
- Savings with Group Purchasing
- Risk Management