About Katy Reed

In her practice, Katy focuses on the areas of strategic planning, hospital/physician alignment, transaction assistance, and service line development. She has expertise in cardiology and oncology services and has worked with a variety of clients on their service line and programmatic needs. Most recently, Katy facilitated several hospital/physician transactions, including the acquisition and integration of multiple specialty groups and their associated ancillary services (e.g., infusion therapy) into a large medical center. She has substantial experience developing alignment models, designing funds flow and governance structures, conducting fair market value assessments, evaluating provider-based conversions, supporting physician practice valuations, facilitating hospital/physician negotiations, and providing ongoing integration assistance. Katy holds a master of business administration degree from the University of Washington Michael G. Foster School of Business and a bachelor of science degree in biology from The University of Texas at Austin.

Becoming a High-Performing Cardiology Practice

Whether employed, aligned, or independent, many cardiology groups are having difficulty sustaining and/or improving performance in the evolving healthcare environment. Physicians and administrators are balancing mounting patient and provider demands against decreasing resources. Aligning with health systems and hospitals through employment or affiliation arrangements may be a lifeline for some practices, but it in no way ensures practice growth or optimal performance. Continue reading

When Employment is Not an Option

Despite a flood of cardiologists entering into employment arrangements with hospitals and health systems, not all are following suit. We continue to work with a number of cardiology groups that are not interested in or eligible for employment. Why? The reasons are as disparate as the physician practices. Some cardiologists cannot become employed due to state regulations or because they are part of a multispecialty group. Others simply treasure their independence. Regardless, shrinking reimbursement and crushing cost pressures are pushing more cardiologists in private practice to explore their available options. And when employment is not an option, there are alternative arrangements that offer similar benefits while preserving physician independence. Continue reading

Cardiologist Compensation 201: Thinking Beyond the WRVU

Let’s talk money. A confluence of factors, including physician integration efforts, a focus on population-based health, and value-based payments, is leading both hospitals and private practice groups to reexamine compensation. Conversations centered on compensation are among the most difficult for hospitals and physicians to engage in, and there is no silver bullet for how to best structure payment. We do know, however, that compensation plans should reflect the culture of the practice, encourage clinical performance, and emphasize quality/care coordination. Continue reading

From Cardiologist to CV Service Line VP

Despite making unprecedented investments in cardiologist integration, hospitals are struggling to effectively leverage the knowledge and expertise of their physicians in growing and managing the CV service line. The lack of a defined growth strategy leaves many cardiologists uncomfortably waffling between the role of clinician and that of administrator, unsure what influence they can or should wield. Private practice physicians are in an even more uncomfortable position, as they also want a voice in service line development discussions but are uncertain of their role. So, what’s the answer? Continue reading

Three Steps to Cardiovascular Service Line Sustainability

What happened to the increased care coordination, service line growth, and improved outcomes your organization expected by pursuing hospital/cardiologist alignment? The truth is these benefits have proved to be elusive, and many health systems are instead facing challenges related to financial sustainability and performance. For systems that find themselves in this position, here are three steps that can help enhance the productivity, operational performance, and long-term financial viability of a cardiology service line. Continue reading