MultiCare and Physicians of Southwest Washington (PSW), an Independent Physician Association headquartered in Olympia, have entered into a minority investment agreement to improve health care delivery and management in the Puget Sound region.<\/p>\n
PSW had been seeking a partner to help grow its geographic footprint and strengthen financial sustainability, while preserving the independent physician practice care model.<\/p>\n
\u201cWe chose to partner with MultiCare because our two organizations\u2019 missions, visions and values are well aligned. We think it will be an excellent cultural fit,\u201d said Melanie Matthews, CEO of PSW. \u201cWe believe strongly in keeping care local and supporting independent physician practices. As a regional health care leader, MultiCare shares that philosophy and commitment.\u201d<\/p>\n
PSW has experience in supporting independent physician practices with a range of services that help them take care of their patients including insurance claims processing, contracting and management services. They also support independent practices by helping to understand and coordinate care for individual patients to ensure they are getting the care they need.<\/p>\n
\u201cJoining forces with this well-respected, physician-led organization is the right work to do for patients and providers in our region,\u201d said MultiCare President & CEO Bill Robertson. \u201cPSW has deep expertise in managing care for patients and supporting independent physicians who are being reimbursed under new risk-based payment models. They are a pioneer and leader in their field and we\u2019re looking forward to learning from them as we work more closely together.\u201d<\/p>\n
The partnership offers a path for regional provider groups to stay independent but have the support that comes from being connected to larger organizations, as the health care industry continues to embrace new risk-based payment models, and as both organizations continue to invest in the success of their Accountable Care Organizations (ACOs).<\/p>\n
\u201cWe will learn from each other and accelerate our progress in managing Medicare and other patient populations under risk-based contracting,\u201d Robertson said. \u201cOur goal is to provide the best possible care for our patients, with a focus on preventive care and wellness.\u201d<\/p>\n
\u201cTogether, we will help patients stay healthy and out of the hospital,\u201d said Matthews. \u201cThat helps keep health care costs down for everyone.\u201d<\/p>\n
Under the terms of the agreement, MultiCare will acquire a minority membership interest in PSW and have four seats on its nine-member board. The Boards of both organizations expect to sign an operating agreement in late March 2018. Operations and ownership of PSW\u2019s 550-member independent physician network will not be affected by the agreement, and each practice will maintain its independence.<\/p>\n
About PSW<\/p>\n
Physicians of Southwest Washington (PSW) is an Independent Physician Association founded in 1995 by Thurston County physicians to provide continuity of health plan access and to maximize quality of care for their patients. PSW represents a network of more than 550 physicians and health care providers and on their behalf negotiates health plan risk-based contracts; provides care management, credentialing and claims processing; explores new business models to sustain independent practices; and is a 51 percent owner of NW Momentum Health Partners, a Next-Generation ACO.<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"
MultiCare and Physicians of Southwest Washington have entered into a minority investment agreement to improve health care delivery and management in the Puget Sound region.<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":123,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[83],"tags":[],"class_list":["post-4875","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"\n