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Medical Economics Insider: Save your practice

Check out our inaugural edition of our interactive publication, featuring in-depth reporting, expert insights, exclusive data, and more!

Medical Economics Insider: Save your practice


Overwhelmed by changing reimbursement models, emerging regulations and adopting new technology? You?re not alone. Respondents to a recent survey said four of the top five ?considerable or extreme challenges? they face relate to these operational issues.Three of the most troubling issues for practices had not even been on practice group leader?s radars in previous years.

Prescription drug abuse is the nation?s fastest-growing drug problem, and, unless primary care practices take appropriate precautions, it also could become one of their fastest-growing regulatory and liability issues. With increased regulation on the horizon, a new study recommends ways that physicians can improve prescribing practices for opioids and other often-abused drugs.

Money isn?t everything, but 35% of primary care physicians (PCPs) say it is the most important factor in changing practices. Compensation was 50% more important to PCPs in evaluating a professional move than location or quality of practice, the most significant factors for residents and fellows.

When patients seek your help in getting a device that can allow them live at home instead of having to move to a long-term care facility, you have to navigate through a confusing maze of Medicare regulations to submit the order, only to find out that you are being blamed for the latest government healthcare expense boondoggle. What is really behind a recent government report blaming physicians for insufficient documentation for power wheelchairs?

Get your black bag ready. House calls could be in your future. While Medicare prepares to roll out the Independence at Home pilot program next year, commercial insurers have been testing variations on the concept for some time, especially to provide care to the sickest of the sick.

Fed up with the hours on the telephone to untangle claims issues with insurers? A new proposed rule could help. It requires insurers to use uniform transmission formats and standardized forms when they seek information or provide claims and coverage information to doctors.

Practicing defensive medicine is an activity unique to the United States, according to new report, and a congressman with an MD degree says it must end. He has introduced a bill to create limitations on recovery in health care lawsuits based on compliance with best practice guidelines.

Much of the hoopla has focused on a nearly 30% cut in rates in the proposed update to the physician fee schedule for 2012, even though Congress is likely to intervene to keep the reductions from being so severe. But, a provision calling for review of all of the evaluation and management (E&M) codes is likely to be more significant in the long term for primary care physicians.

Medical malpractice cases would be better managed with a mediation system that includes both parties being involved, not just the lawyers.

The ability to sell a practice is contingent upon finding someone who wants to be where you are, when you want to sell.

Selling your practice

Selling a medical practice always has been very individualized, but a little planning and preparation can simplify the process and help you get the most out of your sale.

The technology requirements to be recognized as a PCMH now closely mirror those needed to prove "meaningful use" of health information technology under the new healthcare legislation.

As of January 1, over-the-counter medications other than insulin need a prescription to qualify for reimbursement from an employer-sponsored flexible spending account or health reimbursement arrangement.

The issue of how long you will need tail coverage will turn on the statute of limitations to file a malpractice claim, which is controlled by state law.

Much has been written about the financial and practical use of electronic health records, but what impact is it having on the relationship with our patients?

Building profits

The death of a partner in practice forces physician to consider many facets of the practice operation, including the significance of accounts receivable.

Despite today's uncertain economic climate, two recent, surprising reports show that mergers and acquisitions are on the upswing.

Just in case you or your front desk staff had plans to take a vacation this summer, you may want to rethink that. Medicare has rolled out a major advertising campaign to get patients to visit you for an annual wellness visit and free preventive services. Since fewer than 20% of eligible patients used those services in the first half of the year, expect an onslaught of request for appointments.