PACT-Hartford HealthCare provides a variety of benefits that can keep medical practices financially viable.
These financial benefits, many which were strengthened when we partnered with Hartford HealthCare in 2020, include group purchasing strength, malpractice insurance discounts, and an attractive PACT-Hartford HealthCare-sponsored health insurance plan.
Strength in numbers
PACT-Hartford HealthCare members also have access to a line of credit for times when their division experiences a cash flow interruption or disruption.
More recently, we have opened the PACT Lab in partnership with Quest Diagnostics. All PACT-Hartford HealthCare members share in the profits of this venture on a pro rata basis without having to do any additional work.
Continuous quality improvement
To help achieve nationally recognized quality improvement goals, PACT-Hartford HealthCare members participate in PQRS and Meaningful Use programs, and all PACT-Hartford HealthCare primary care providers are assisted through the NCQA Patient-Centered Medical Home certification process. Along with other benefits, this assistance helps ensure that our members maintain or improve their revenue-generating ability for as long as they practice medicine.
Assistance with business services
Today’s physicians face a myriad of financial and accounting issues ranging from collection issues and claim denials to shrinking reimbursements and rising operational costs. Particularly for smaller practices, these challenges can take a toll on your practice, to say nothing of your state of mind. PACT-Hartford HealthCare members have access to the following back-office services from PACT Management Services Organization (PACT MSO):
- legal assistance
- debt collection
- billing issues, including those related to ICD-10 requirements
- annual projections and budgets
- feasibility studies
- profit and loss statements
PACT-Hartford HealthCare members can also buy shares in PACT MSO as an investment to share in revenue generating opportunities from the company’s ancillary services.
These services and financial benefits that can benefit your patients and your practice simply would not be possible with even a reasonably large independent practice. Our members enjoy the independence they had when they began as private practitioners, but with the strength and advantages of a large group practice.
Have a question? Need more information?Contact PACT