An Independent Physicians Association (IPA) is an entity owned by a network of independent physicians with the purpose of reducing overhead and establishing contracts with Health Maintenance Organizations (HMO) and Managed Care Organizations (MCO). IPAs provide independent practices the freedom to deliver high-quality, personalized care to their patients while providing resources to stay competitive.
How can an Independent Physicians Association help my practice?
“Our panel is currently closed for providers in your area.” Sound familiar? There is nothing more deflating than a closed panel preventing you from joining prominent insurances in your area as an in-network provider. Joining an IPA may be the solution you’re looking for.
As a company that provides credentialing services for rehab therapy private practices, we’ve seen the value of IPAs first-hand. Many of the IPAs we’ve encountered require an annual fee for membership. This membership allows your private practice to become in-network with a variety of payors which can increase revenue in your practice to easily justify the fee.
Joining an IPA can result in higher reimbursement from insurance payors because their staff may be more experienced with contract negotiations than solo private practice owners. Other benefits of joining an IPA include administrative resources, peer support, and referral opportunities.
What are the disadvantages of joining an IPA?
While IPAs can provide valuable support and contracts to insurance payors, there are potential drawbacks, such as insufficient experience and poor management. IPAs in your area may not participate with all major payors, so independent contracting for your practice may be required. If you’re considering joining an IPA, be sure to do your due diligence to ensure their values and benefits match the needs of your practice.
If you’re opening a new practice or looking to add additional insurance panels to your existing clinic, you don’t have to struggle through the credentialing process alone. Give us a call at 508-422-0233 or send us an email at firstname.lastname@example.org to learn how we can help you get in-network fast and easy.