A Management Services Organization (MSO) is a company that provides non-clinical services to medical practices, ambulatory care facilities, or other healthcare providers. MSOs centralize the administrative and management functions of health systems or practices to leverage resources efficiently and allow providers to focus on providing quality clinical care to patients. Here are some of the areas in which an MSO can assist practices:
- Operational issues
- Financial management
- Human resources
- Billing and collections
- Compliance
- Marketing and business development
- IT support
MSOs can provide value in the healthcare system when they enable physician organizations to succeed in the assumption of financial and population risk. They can also provide an additional revenue stream for physicians who are winding down and/or retiring from clinical practice. MSOs are evolving to tackle the growing demands of a value-based marketplace, with many insurers now tying reimbursement to quality and outcomes. Overall, MSOs can be a valuable tool for healthcare providers to streamline their administrative tasks and focus on providing quality care to their patients.
