Northwell Health in New Hyde Park, N.Y., partnered with Pamplona Capital Management to create a physician practice management organization.
Here are five things to know:
1. The new organization, called Formativ Health, includes tailored revenue cycle management solutions, patient access services, physician practice management and advisory services. Both Northwell and Pamplona invested capital in the new organization.
2. Formativ is designed for employed physician groups as well as independent physician groups and can help with adapting risk-based payment models.
3. Physician practices within the organization can expect to increase productivity and satisfaction as well as improve financial health through Formativ. The company includes end-to-end revenue cycle management, practice management, advisory services and technology products that can integrate with existing platforms.
4. The advisory services focus on network development, payer contract design and physician alignment.
5. Formativ is partnered with Pamplona's nThrive to deliver its Patient-to-PaymentSM revenue cycle management solution.