The CMS Finance department manages all aspects of client IPA finances. In addition to carefully monitoring the revenue received from health plans, expenses are tracked and accurately calculated to monitor the fiscal solvency of an IPA. The CMS financial system allows for customized financial reports tailored to an IPA's needs, including profitability by contract or by physician. Monthly financial reporting packages are presented at Board meetings, along with various analytical reports. These statements allow for a clear and concise picture of the financial status of an IPA on an ongoing basis. CMS continually works with IPA Board members to implement creative ideas to improve IPA profitability.
The Finance department supports various quality improvement initiatives including Pay for Performance, Hedis and Hierarchical Condition Categories (HCC). Statistical reporting is generated and shared with the client to better manage performance in these initiatives.
CMS also manages risk pool accounting for hospital clients. CMS prepares risk pool reports designed to monitor and analyze pool performance. Pro forma forecasting tools are used to assist the client as needed. CMS staff attends Joint Operations Committee meetings and works with both Hospital and IPA personnel to resolve issues and improve pool profitability.
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