Hands-On Physician Practice Management
Physician Practice Long Term Management
Southwind Physician Practice Long Term Management Services Allow Health Systems to Focus on Their Core Business
The above three positions are managed and supported by the Southwind Corporate Operations Management Team, which consists of senior executives with over 20 years experience in physician practice management. The Executive Director will report directly to the health system or hospital CEO and will have a matrix reporting relationship to the Southwind President and Chief Operating Officer.
At the outset, Southwind will provide appropriate physician practice interim management executive support (including an Interim Executive Director) until long-term Southwind managers are in place. The cost of interim services, with the exception of travel expenses, is included in the first year's monthly management fee.
The long term physician practice management agreement provides for renegotiation at the end of year two, at which time options would be available to the health system to either:
Southwind offers a long term physician practice management option through a three year Management Services Agreement or MSA. Under the MSA, Southwind recruits, hires, orients and trains three key executives for the local health system sponsored physician enterprise. These key executives include the Executive Director, a Revenue Cycle Director or Manager, and a CFO or Finance Director.
The above three positions are managed and supported by the Southwind Corporate Operations Management Team, which consists of senior executives with over 20 years experience in physician practice management. The Executive Director will report directly to the health system or hospital CEO and will have a matrix reporting relationship to the Southwind President and Chief Operating Officer.
Key Advantages of Long Term Management
- The local physician enterprise benefits from a cohesive team of local physician practice management executives directly supported by Southwind's highly experienced senior physician practice executives;
- Southwind's MSA ensures strong accountability for performance, including the ability to provide significant financial incentives for local physician practice management staff based on mutually agreed to results;
- Southwind is responsible for recruitment costs, salaries and benefits, professional development expenses and payroll administration; and
- Talented physician practice management executives are attracted to a model that provides industry knowledgeable oversight and support for challenging initiatives,career opportunities at larger practice sites at higher compensation levels and participation in the Southwind profit sharing plan. Our profit sharing plan provides a financial stake in the Company's overall success as well as base compensation, annual bonuses and benefits. Simply put, we believe we can attract superior talent for your institution's physician practice management needs.
Flexible Transition Terms
At the outset, Southwind will provide appropriate physician practice interim management executive support (including an Interim Executive Director) until long-term Southwind managers are in place. The cost of interim services, with the exception of travel expenses, is included in the first year's monthly management fee.
The long term physician practice management agreement provides for renegotiation at the end of year two, at which time options would be available to the health system to either:
- Terminate the agreement at the end of year three;
- Terminate the agreement at the end of year three and retain Southwind employees upon payment of a one-time Recruiting Fee; or
- Terminate the agreement with 120 days notice at the end of year two and pay an Early Termination Fee (equal to two month's retainer) and/or Recruiting Fee if Southwind employees are retained by the health system.