Fee-for-service healthcare has destroyed the physician-patient relationship by de-personalizing care delivery.  Patient encounters are looked at as transactions, instead of as opportunities to forge long-term healing relationships. Consequently, the healthcare system delivers inexorably bad cost and quality outcomes, and  primary care is marginalized in lieu of high cost specialists who perform procedures. This has created a perfect storm for physician burnout and moral injury, and we can only regain the humanity of health care by reinstating the primacy of the physician-patient relationship and empowering independent primary care physicians.
Dr. David Pak is an entrepreneurial Internal Medicine physician leader with over 25 years of direct patient care.  His medical practice (Pak Medical Group) is a leading example of a patient-centered, holistic, relationship-based, tech-enabled model that is transforming the lives of seniors. Dr. Pak is an entrepreneur with masterful skill at aggregating local market physicians to build value-based models of care.  He has formed an ACO and Medicare Advantage risk-bearing entity (Zenith Independent Physicians Network) that is moving primary care practices to fully-capitated risk. Dr. Pak is passionate about the personalization of primary care, technology enablement through remote patient monitoring, perpetuation of physician independence through value-based programs, and the creation of Human AI staffing support models that can transform care delivery and physician culture.  While he is an expert on value-based care and care delivery innovation, he is also a proponent of medicine revisiting its roots to a more simpler time where relationships were paramount.
This episode is a must-listen for entrepreneurial primary care physicians who seek independence through value-based care. By following Dr. Pak’s approach, they can reclaim their joy in medicine and propel their practices to business success in the race to value.
Episode Bookmarks:
01:30 Introduction to Dr. David Pak and his healthcare ventures (Pak Medical Group, Zenith IPN, and Eleos Staffing)
04:30 Dr. Pak’s early success as a physician entrepreneur that resulted in his practice to Humana
05:30 Dr. Pak speaks to his career as an entrepreneur in creating value-based, innovative care delivery models for seniors
07:00 “Fee-for-service is a broken model that rewards bad behavior that is not conducive to good outcomes.”
08:00 Holistic patient care only occur in a full-risk medical practice. Will this lead to mandated APMs?
10:00 The explosive growth and enrollment trajectory of Medicare Advantage.
11:00 Learning how to succeed in Medicare Advantage from more advanced models in Florida.
12:15 Identifying vulnerable populations in Medicare Advantage through appropriate risk adjustment coding.
13:00 Delivering customized care delivery care models for different segments of the MA population.
14:30 The need for primary care physician autonomy and independence to overcome current financial challenges.
15:30 Is a massive corporate takeover of primary care necessary for PCPs to succeed in capitated revenue models?
18:00 Comparing PMPM reimbursement to traditional FFS reimbursement and overcoming the physician “education gap” in risk
18:45 The importance of physician leadership and education in value-based care
20:00 It is possible for PCPs to get off the “hamster wheel” (and it doesn’t require a corporate takeover)
21:30 The need for independent physicians to take on a capital partner to support their value journey.
23:00 Dr. Pak explains the importance of physician education and a robust risk-based contract portfolio.
24:00 The aggregation of primary care physicians in local markets.
25:00 “The road to value-based care should be paved by physicians…especially primary care physicians.”
25:30 The difficulties in meeting ROI expectations from PE investors and why physician aggregation is crucial to success.

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