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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


Observing other physicians’ struggles and having challenges of my own with the EHR compels me to consider ways to incorporate the computer into the patient-physician encounter in a manner that supports rather than detracts from the work that I love to do.

Electronic health records (EHR) use has steadily increased among office-based physicians since the passage of the Health Information Technology for Economic and Clinical Health (HITECH) Act, but new studies indicate that the number of physicians who don’t or plan to participate is substantial.

HHS’ announcement that, by the end of 2016, it aims to link 30% of Medicare reimbursements to the "quality of value" is the latest sign that, after years of talking about the importance of quality and outcomes in medicine, payers are getting serious about making them part of their reimbursement formulas.

Even the most experienced physicians and practice managers face a daunting dilemma on the financial front: Should they handle billing and collections internally or hand over these tasks to an external vendor? There are strategies that physicians can use to evaluate potential vendors and make the best decision for their practice.

Being sued for malpractice, especially for the first time, can be an unsettling and frustrating experience. The consequences of a lost case can range from an increase in future insurance premiums to a health department investigation which could affect your license. So it is imperative that you immediately report a malpractice claim to your professional liability insurance carrier and retain an attorney specializing in the defense of medical malpractice cases in order to protect your interests.

Rising costs can affect treatment adherence and lead to negative outcomes for patients. But physicians can take some small steps to help their patients overcome this challenge.

Despite changes to the Health Insurance Portability and Accountability Act (HIPAA) that dramatically affect the risk profile of medical practices, many have yet to establish a full arsenal of defenses against data breaches. The simple fact is that failure to update your protections can multiply your vulnerabilities and fines if a breach occurs.

Insurance carriers have come a long way when it comes to reimbursing for obesity-related treatment. However, you will need to make sure that your diagnosis coding is specific and complete in order to support medical necessity.

There are many ways to have a medical career. Choosing whether to take employment, buy a practice, or start from scratch involves assessing your personal and professional values, and the specific location you are targeting. The bottom line: Choose what will make you personally and professionally happy.

Treating Medicaid patients

The provider that accepts a large number of Medicaid patients and makes it work for his or her practice is much like the fabled unicorn: there are rumors that they exist, but no one has actually seen them.

Regardless of how well physicians or their coders understand the new coding system, practices will not fare well on reimbursement unless their providers can document encounters in sufficient detail to support the new codes.