Banner
  • Revenue Cycle Management
  • COVID-19
  • Reimbursement
  • Diabetes Awareness Month
  • Risk Management
  • Patient Retention
  • Staffing
  • Medical Economics® 100th Anniversary
  • Coding and documentation
  • Business of Endocrinology
  • Telehealth
  • Physicians Financial News
  • Cybersecurity
  • Cardiovascular Clinical Consult
  • Locum Tenens, brought to you by LocumLife®
  • Weight Management
  • Business of Women's Health
  • Practice Efficiency
  • Finance and Wealth
  • EHRs
  • Remote Patient Monitoring
  • Sponsored Webinars
  • Medical Technology
  • Billing and collections
  • Acute Pain Management
  • Exclusive Content
  • Value-based Care
  • Business of Pediatrics
  • Concierge Medicine 2.0 by Castle Connolly Private Health Partners
  • Practice Growth
  • Concierge Medicine
  • Business of Cardiology
  • Implementing the Topcon Ocular Telehealth Platform
  • Malpractice
  • Influenza
  • Sexual Health
  • Chronic Conditions
  • Technology
  • Legal and Policy
  • Money
  • Opinion
  • Vaccines
  • Practice Management
  • Patient Relations
  • Careers

Medical Practice 10 Years from Now -- What Will Yours Look Like?

Article

The turgid healthcare debate has thrust into the limelight the inadequacies of the traditional practice model with its dependence for survival on high-overhead offices, health insurance and fee-for-service reimbursements. In order to prevail financially, medical practices are going to need to take stock of their business models and look to alternatives.

The turgid healthcare debate has thrust into the limelight the inadequacies of the traditional practice model with its dependence for survival on high-overhead offices, health insurance and fee-for-service reimbursements.

In order to prevail financially, medical practices are going to need to take stock of their business models and look to alternatives.

The good news: there are now many profitable, creative, alternative viable practice models in operation, and we are wallowing in an abundance of the kinds of low-cost web-based technology that can support re-engineered care delivery and medical practice operations.

The bad: it is unusual for physicians to receive the kind of formal residency-based education and training that would teach them the ins and outs of running a practice as an exercise in business. It's even less common that they are taught to think out of the box about their medical practice business model options. It will take a fresh mindset coupled with renewed energy to rethink the future. That's hard to come by when you are drowning in paperwork, unpaid claims and incomplete patient charts!

Okay then, here's the tough question: Where is your practice headed?

Read more…

Related Videos
Victor J. Dzau, MD, gives expert advice
Victor J. Dzau, MD, gives expert advice