MEC Practice Academy 11.19

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

Hospitals and primary care physicians (PCPs) may benefit from the growing numbers of PCPs employed in hospital-owned practices, but patients and third-party payers may be harmed by the trend, at least in the short term, according to a recent study.

The government?s new flexible bundled payment initiative allows practices to largely define their own terms of participation. But will the array of models resolve issues with undervaluing evaluation and management work and negotiating fair payment rates with hospitals? Find out how the definition of ?episodes of care? might make a difference.

If you look closely at the airline industry, there's much to learn from the leading airlines and steps they've taken to rebound from a point of weakness to a growing financial stability.

If you're like most primary care physicians, you think you should earn more for the 60, 70, and even 80 hours you work each week. The fact is, you can.

Every physician faces choices. Although the right choice for your practice may appear at first to be the least expensive option, in far too many cases, the option that starts out as the least expensive ends up costing you more either immediately, in the long run, or both.

Physician practices are steadily adopting electronic health records (EHRs), according to recent reports, and primary care physicians are leading the pack. More than 40% of practices now use EHRs, with more than 2,200 already having attested to meaningful use. Who are they and how did they do it?

The Centers for Medicare and Medicaid Services needs to make substantial changes in methodology and distribution before physician feedback reports can be considered meaningful, actionable, and reliable for individual physicians as well as groups, according to the Government Accounting Office (GAO). The reports indicate how practices are meeting criteria that will ultimately determine their Medicare reimbursement.

Family medicine practitioners have a lower probability of being sued for malpractice than most specialties but still have at least a 75% chance of facing a lawsuit before typical retirement age, according to a new study. The good news? More than three-quarters of all claims resulted in no payments.

Accountable care organizations (ACOs) can be financially rewarding for participating physician groups, but it may take longer than expected, if the results of the physician group practice demonstration apply. Read more to find out when the risks actually resulted in rewards.

Compensation in primary care practices edged up about 2.6% in 2010, a smaller increase than in the previous year but still slightly more than specialty practices, a recent survey found. Overall, however, the news was far from good?many practices were operating at a loss.