TRIARQ Health, a Physician Practice Services company, partners with doctors to run modern patient-centered practices so that they can be rewarded for delivering high-value care. TRIARQ’s physician-led partnerships simplify practices transition to value-based care by combining its proprietary, cloud-based practice and care management platform and patient engagement services to help doctors focus on better outcomes. Through its physician-led, high-performance alliances, TRIARQ works in close partnership with health plans, top health providers, and leading employers to reward doctors for providing high-quality episodes-of-care.
TRIARQ’s products include comprehensive packages of software and services that provide independent practices with everything they need to deliver high-quality care. TRIARQ Pro or Q Pro includes a full suite of cloud-based software tools along with personalized Performance Management for one simple fee per user per month—no extra fees or maintenance ever. TRIARQ Complete or Q Complete includes all the resources of Q Pro, plus Revenue Cycle Management for an agreed-upon share of revenue. With all training & implementation and investment provided by TRIARQ up-front, it is a testament to its commitment to partnership.
Leader Holding the Reins
Mike Sappington, the CEO of TRIARQ, has been an eminent leader in the healthcare industry. Mike has over three decades of experience in working with fast-growing companies as an entrepreneur, senior leader, and visionary. TRIARQ Health was formed to help modernize healthcare and usher in a new era of value-based healthcare services. He oversees the organization’s practice services, value-based programs, and communities.
To be in line with the ever-evolving technology, Mike and team have been helping align everyone’s interests—payers, patients, and providers. The biggest challenge has been gaining physician alignment because what TRIARQ offers is so radically new. To overcome this, TRIARQ focuses on providing doctors with clear opportunities to take control of how healthcare dollars are spent. Over the last number of years, TRIARQ has learned how to effectively partner with doctors to change healthcare for everyone involved. “Physician-led care and contracting is the best-case scenario and when properly incentivized and aligned, doctors do the right thing,” Mike opines.
Unique Approach
TRIARQ’s independent medical practice partners benefit from its focus on partnership and experience with both sides of the business: technology and practice management. The company’s team is made up of people who really know what it is like to manage a practice and understand what it takes to provide high-quality care, while also achieving strong business results. TRIARQ owns a complete range of in-house software tools. Many companies use external billing platforms or other plug-in solutions, whereas TRIARQ develops and manages all of its software solutions under one roof.
Success through Innovation
Innovation is at the heart of TRIARQ’s mission. As the nation transitions to Value-Based Care, TRIARQ’s team is helping independent physicians match the big data capabilities of large regional health systems. TRIARQ’s team includes nationally-known experts in the medical practice management field. The company regularly engages with leading experts, not only to enrich its own understanding of the changes in healthcare but also to pass along that information to the practice partners through its Wednesday Webinars.
“Our success comes from a relentless drive to empower the independent medical practice,” says the CEO. The healthcare system requires a thriving independent practice community. But it is hard for them to keep up with the technology, data, insights, and programs of the hospital and other health systems. TRIARQ helps doctors retain their independence to deliver care in the way they see fit. The company strongly believes that the best outcomes are always achieved when physicians are in control. According to the team, its greatest accomplishments are each and every positive outcome achieved by the physician partners.
Keep Up with Changes
Changes in Practice Management happen at a blistering pace. It can certainly be challenging to keep up with every new regulation, law, or program issued by the local or federal governments. However, TRIARQ considers it to be the part of its calling to serve thousands of independent physician partners. “They need help keeping up with those changes, so we work hard to develop the fastest, more secure, most intuitive software solutions on the market. In addition, TRIARQ Health offers personalized, proactive support that is unmatched in the marketplace. Our Performance Managers are healthcare experts who continuously monitor our clients’ results, identifying valuable insights, and helping them implement new ideas to take their practice to the next level of success,” asserts the team in one voice.
Industry Outlook
The Practice Management Industry is starting to mature since Meaningful Use pushed everyone into Electronic Health Records. Much of the industry is dominated by a few very large players who provide a robust software package but are generally uninvolved in the day to day operations of their clients. TRIARQ Health is a Partner, not a vendor. Between its Performance Managers and Value-Based Care programs, the company is deeply invested in the success of its physicians, which means better outcomes for everyone across the board.
Future Outlook
TRIARQ Health is helping independent physicians on the road to Value-Based Care. To get involved in programs like BPCI-Advanced or other risk-bearing contracts, physicians have to be part of a larger pool. And that pool has to negotiate with the payer, whether that is a private state-based insurance company, a corporation, or a federal entity like CMS. These Value-Based Care contracts and programs are quickly becoming the norm and physicians who are not involved will find themselves on the sidelines. TRIARQ helps these independent physicians form their own groups through what is called The Alliance, to get involved in Value-Based Care without giving up their independence. The Alliance started in Michigan, with one of the nation’s largest private payers, and has now expanded it nationally through the new BPCI-Advanced program from CMS.
