Practice Management

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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

CME Content


Recruiting new physicians

Consider how other groups recruit new physicians when you find your practice in a similar situation.

In this second of two articles, the authors look at the methods used to value medical practices, the impact of antitrust laws on the pricing of doctors' services, how a hospital or managed care company exerts influence over practices in which they invest, and how doctors in independent practices can best evaluate a purchase offer.

After reviewing thousands of medical charts, and interviewing hundreds of prospective clients who were the purported victims of medical negligence, general patterns of malpractice began to emerge that repeatedly formed the basis of successful claims against providers and healthcare facilities.

Lower-income families with high-deductible health plans are more likely to delay or forego care due to cost than higher-income families who have similar coverage, according to new research.

Keep it simple

The cost of inefficient healthcare claims processes, payment, and reconciliation is estimated to be between $21 billion and $210 billion, eating up to 10% to 14% of physician practice revenue, according to the American Medical Association.

Congress has delayed primary care's Medicare reimbursement cut for another year. Rather that this being cause for celebration, however, it simply represents the reality that had the cut gone through, there wouldn't be much incentive to stay in the practice of medicine-and Congress knows that.

The bigger and thicker your policy manual is, the more you may be choking the health and growth of your practice.

Surgeons married to physicians appear to face more challenges in balancing their personal and professional lives than do surgeons whose partners work in a nonphysician field or stay at home, according to a recent study.

Taking care of business

Family physician Gregory Oliver, DO, has always had an interest in business, although it wasn't until his late 30s when he became an employed hospital physician that his interest deepened.

An independent physician organization in Massachusetts representing 1,800 doctors and Blue Cross Blue Shield of Massachusetts Inc. signed a multi-year contract that pays physicians with a modified global payment model designed to encourage cost-effective care rather than reward doctors for the quantity of the care they deliver to patients.

Acting up or acting out

Sigmund Freud regarded acting out as a clinical concept related quite specifically to psychoanalytic treatment. During treatment, patients' actions may represent the only way repressed memories and wishes initially find their way to the surface.

2011 coding changes

The best way to maximize payment from insurers for the services your practice provides to patients is to keep your knowledge current regarding American Medical Association Current Procedural Terminology coding so that you correctly report your services to the payers the first time you submit a claim.

Americans remain divided over the nation's healthcare reform package, with 40% of adults wanting to repeal all or most of the legislation while 31% favor keeping all or most of the reforms, and 29% uncertain, according to results of a poll.

The most current Report to the Nation on Fraud by the Association of Certified Fraud Examiners estimates annual fraud at $952 billion, an increase of more than 46% from the 2008 figure of $652 billion.

Making sense and cents

It's natural for people to worry about that which they do not understand. As learned professionals, our reassurance can go a long way toward soothing our patients.

Bridging the gap

The consequences of incomplete information at the point-of-care can be inconvenience, inefficiency, increased costss, and adverse, even life-threatening outcomes for patients.

A real reminder

Burnout threatens sometimes when the frank reality of what you have to do overtakes the feeling of altruism that led you to do it in the first place.