Over the past several years, the healthcare industry has observed some major shifts on both the provider and payer side of the business. On the payer side, there is a growing implementation of Value-Based payment models like MACRA/MIPS and BPCI-Advanced. While on the provider side, there is an upsurge of hospital consolidation. However, these systems are depleting the entrepreneurial spirit of American physicians, reducing the incentive to become the best possible doctor, and putting too much control over the nation’s healthcare system in the hands of few people. Therefore, TRIARQ Health offers a unique combination of technology and billing services in a way that strengthens the US’s Independent Medical Practices. The company focuses on providing one complete solution at one single price while enabling physicians to offer better quality care, improve patient relationships, optimize workflow, and maximizes opportunities to grow.
Focusing On Delivering Better Care, Health, and Economics
Founded in 2005, TRIARQ Health is a physician practice services company that partners with doctors to run modern patient-centered practices so that they can be rewarded for delivering high-value care. These physician-led partnerships can succeed in value-based care through TRIARQ’s proprietary, cloud-based, practice management platform, and patient engagement services. As a national physician practice management company, TRIARQ is designed to meet the Triple Aim of health reform goals that are Better Health for Populations, Better Care for Individuals and Families, and Better Economics by Intelligently Aligning Quality and Spending.
TRIARQ Health tactically analyzes every practice one-by-one and offers a close partnership with custom-built services that delivers positive outcomes and effectively deals with regulatory and industry related issues. The company’s holistic approach consists of performance management, technology, communication tools, billing services, and everything else a practice needs to become successful on the road to value-based care. Altogether, it aims to align and address the value and quality of healthcare to consumers through value-based programming with payers and providers.
Offering a Variety of Value-Based Solutions
TRIARQ Health provides an exceptional amalgamation of technology and billing services in a way that strengthens the nation’s Independent Medical Practices. On a partnership level, the company works with physicians so that they can continue their own practice while still profiting from the power of large-scale data and analytics. As a national physician practice management and value-based solutions company, it has access to a vast amount of data that aids in discovering unique insights into the healthcare business so that they can pass it along to their practice partners. TRIARQ’s Performance Managers share these insights with practices that are part of TRIARQ family. In this way, they can gain a competitive edge over their competitors, and deliver better quality care.
The company’s practice partners also gain easier access to new Value-Based payment models, which increases their ability to compete. These Value-Based contracts require significant administrative investment such as recording, analyzing, and reporting of data, which takes a lot of time. Therefore, TRIARQ Health utilizes its modern technology to simplify data collection and syntheses.
Enhancing Employees’ Performance through Benefits
When organizations start recognizing and acknowledging their employees’ work, it leads to better performance of the workforces. An employee who feels appreciated will be more satisfied and productive in their work. To keep workforces mentally and physically healthy comes down to several types of services as well as benefits. To progress well in the industry, TRIARQ Health is constantly looking for new ways to improve employees’ performance. The company offers favorable benefits to its employees such as work from home with performance-based incentives. Over the past few years, it has exhibited significant growth, which leads to the increase in the number of employees in multiple states so that they can provide better quality care and help independent practices thrive in the changing industry.
Blueprint for New Developments Related to Healthcare Sector
For the upcoming years, TRIARQ Health has already planned the roadmap for new developments in the healthcare sector. These new developments will help in delivering better care, optimizing practice management workflow, generating increased revenue, improving doctor-patient relationships, and staying up-to-date with latest trends and technologies in the healthcare industry. These include:
- The technology team is in the middle of two major projects that will bring the entire EMR to mobile devices and add video chat features to enable e-visits.
- The billing team is working on new innovative features that will make life easier for both doctors and their patients.
- A new Patient RCM is rolling out this year providing patients with more options for paying their share of healthcare costs by offering mobile payments, flexible payment plans, and other features which will bring both patients and practices together.
- TRIARQ Health is also in the midst of developing a library of new resources called QCollege within the MyQOne partner portal. This library will contain educational and training materials that will help practices make the most of their EMR as well as keep them on the top of other important information regarding changes in the healthcare space.
A Visionary, Talented Leader Looking for New Opportunities
The Chairman and CEO of TRIARQ Health, Mike Sappington is an extremely talented and visionary leader. As the CEO of TRIARQ Health, Mike’s role is to lead the TRIARQ team and nationwide network Independent Medical Practice through the chaotic and ever-changing world of modern healthcare. In order to achieve this, Mike focuses on strengthening the essence of physician practices by identifying new opportunities to help practices get involved in Value-Based contracts to pioneering new practice management technology. Under his leadership, the company has combined technology services and billing services into one simple package called TRIARQ Complete, thereby offering the marketplace a revolutionary revenue guarantee based on innovative technology. In 2018, he led TRIARQ Health into an exciting nationwide program called BPCI-Advanced by pioneering a new approach to care management which he calls Clinically Integrated Networks.
The Future of the Healthcare Sector
With the emerging new technologies, the future of the healthcare industry looks very exciting. Being a healthcare futurist, Mike has witnessed shifts happening in the healthcare industry. According to him, technology-enabled practice management tools and value-based care contracts will give providers an even-greater influence on healthcare quality and cost. In this, TRIARQ Health will play a significant role by providing the resources to help them.