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Empowering Michigan Physicians: Accessing Innovation and New Revenue through the Preferred Partner Program
MSMS is committed to supporting its members by connecting them with high-quality, innovative organizations. This commitment is realized through the Preferred Partner Program, which carefully vets and selects partners to offer exclusive access to advanced healthcare technologies and solutions. Many of these partnerships also offer substantial opportunities for practices to generate additional revenue. Below are examples of how key partners are making a difference for MSMS members.
House Rx: Driving Revenue with In-House Specialty Pharmacy
For specialty practices, House Rx offers a powerful solution to drive new strategic revenue and enhance patient care through the establishment of in-house pharmacies and dispensaries. Their pharmacists and care coordinators work as an integrated part of the existing care team. House Rx built the first specialty pharmacy software and analytics program that includes built-in Prior Authorization AI technology. On average, specialty clinics utilizing House Rx can expect to see $50,000 - $100,000 in additional annual income per physician.
ONEai: Profiting from Remote Patient and Therapeutic Monitoring
ONEai Health leverages Remote Patient Monitoring (RPM) and Remote Therapeutic Monitoring (RTM) to provide continuous care for patients with chronic conditions, creating a significant revenue stream for practices. Core benefits include:
- Enhanced Patient Engagement and Improved Health Outcomes: Continuous monitoring promotes adherence, and proactive management allows for timely interventions, leading to better-personalized care and a reduction in hospitalizations.
- Cost Efficiency and Convenience: The solutions reduce the need for frequent in-person visits and lower overall healthcare costs, while allowing patients to receive care from the comfort of home.
- Data-Driven Insights: Comprehensive analytics and outcome tracking inform clinical decisions, improving care quality and patient progress monitoring.
By outsourcing the provider role for RPM and RTM, practices can generate substantial profit with minimal operational burden.
Annual Provider Cost
IMA Financial Group: Strategic Risk Management and Cost-Saving Benefits
IMA Financial Group (IMA), a nationally recognized leader in employee benefits, insurance matters, and risk management, brings a wealth of expertise to Michigan providers. With over 37 offices nationwide and a dedicated healthcare team serving more than 1,000 healthcare clients, this employee-owned company offers local, customized solutions designed to bring value to physicians and medical groups. Key benefits include:
- Guaranteed Cost-Savings: Actuarially guarantee 10%+ net cost-saving on employee health benefits, with 100% of claims surplus and rebates returned to the employer medical groups.
- Reduced Out-of-Pocket Costs: Lower out-of-pocket costs for employee plan members by providing a member-driven concierge service to successfully navigate their health care experience.
- Innovative Behavioral Wellbeing: Offer an innovative approach to behavioral wellbeing and substance disorder through a comprehensive range of support services. This initiative goes beyond reducing costs—it can save lives, reduce employee turnover, and improve satisfaction. IMA handles the operations, and the practice earns a partnership fee.
- Comprehensive Risk Solutions: Provide comprehensive solutions for all insurance and risk management needs, including support for complex transactions like buy-sell agreements with private equity, hospitals, or ambulatory surgery centers.
- Specialty Pharmacy Program: Add a specialty pharmacy program to your Pharmacy Benefit Manager (PBM) for significant cost savings, minimal disruption, and tailored, white-glove service.
- Revenue Recovery for Providers: Partner with industry leaders using AI, audits, and expertise to recover underpayments and lost revenue with no disruption. Leverage technology for real-time claim discovery and revenue optimization for Letters of Protection (LOP) and Workers' Comp claims.
“By leveraging the MSMS Preferred Partner Program, Michigan physicians gain a trusted resource for innovative tools that not only improve patient care and operational efficiency but also secure new opportunities for financial growth. We encourage members to learn more about these three companies and all of our Preferred Partners.”
- Tom M. George, MD, MSMS CEO.
For more information on the MSMS Preferred Partners, please visit https://www.msms.org/Resources/For-Practices/Practice-Partners
100 patients
100 patients
$2,900 \times\ 12 months
$2,900 \times\ 12 months