Premium Content Preview | Physician sentiment starting to improve?

November 19, 2015

The Practice Profitability Index (PPI) provides an annual window into the issues affecting the financial and operational health of physician practices across the US. Reflecting input from more than 5,000 physicians, this third edition reveals how physicians expect practice profitability to trend in the year ahead, the top challenges they’re facing, and the key steps they're taking to shore up operations and boost financial results.

Studies have already shown that is difficult with the current International Code for Diseases (ICD) 9 used in the medical field in the United States. With the upcoming conversion to a much more complex ICD-10 coding method, the complications and need for correct coding will only increase.

Proper coding is a physician’s lifeblood. Without proper coding, a provider will not receive his or her proper reimbursement for his or her work. But consider a physician’s education. Most doctors are not taught coding, billing, or revenue cycles as an undergraduate, medical student, or resident.

- See more at: http://www.physicianspractice.com/sponsored-resources/icd-10-conversion-coding-confusion-there-solution#sthash.MPnfe8ys.dpuf

Studies have already shown that is difficult with the current International Code for Diseases (ICD) 9 used in the medical field in the United States. With the upcoming conversion to a much more complex ICD-10 coding method, the complications and need for correct coding will only increase.

Proper coding is a physician’s lifeblood. Without proper coding, a provider will not receive his or her proper reimbursement for his or her work. But consider a physician’s education. Most doctors are not taught coding, billing, or revenue cycles as an undergraduate, medical student, or resident.

- See more at: http://www.physicianspractice.com/sponsored-resources/icd-10-conversion-coding-confusion-there-solution#sthash.MPnfe8ys.dpuf

Studies have already shown that is difficult with the current International Code for Diseases (ICD) 9 used in the medical field in the United States. With the upcoming conversion to a much more complex ICD-10 coding method, the complications and need for correct coding will only increase.

Proper coding is a physician’s lifeblood. Without proper coding, a provider will not receive his or her proper reimbursement for his or her work. But consider a physician’s education. Most doctors are not taught coding, billing, or revenue cycles as an undergraduate, medical student, or resident.

- See more at: http://www.physicianspractice.com/sponsored-resources/icd-10-conversion-coding-confusion-there-solution#sthash.MPnfe8ys.dpuf

Studies have already shown that is difficult with the current International Code for Diseases (ICD) 9 used in the medical field in the United States. With the upcoming conversion to a much more complex ICD-10 coding method, the complications and need for correct coding will only increase.

Proper coding is a physician’s lifeblood. Without proper coding, a provider will not receive his or her proper reimbursement for his or her work. But consider a physician’s education. Most doctors are not taught coding, billing, or revenue cycles as an undergraduate, medical student, or resident.

- See more at: http://www.physicianspractice.com/sponsored-resources/icd-10-conversion-coding-confusion-there-solution#sthash.MPnfe8ys.dpuf

 

The Practice Profitability Index (PPI) provides an annual window into the issues affecting the financial and operational health of physician practices across the US. Reflecting input from more than 5,000 physicians, this third edition reveals how physicians expect practice profitability to trend in the year ahead, the top challenges they’re facing, and the key steps they're taking to shore up operations and boost financial results. 

 

KEY FINDINGS INCLUDE:

  • 35% of physicians expect flat profits in the next year; 31% expect a negative trend

  • More than 60% cite declining reimbursement as the top threat to profitability

  • 64% spend at least one day per week on administrative work, rather than patient care

  • 3 in 5 physician owners are not looking to sell or merge. The top driver for those who are? Administrative work

  • 40% of physicians are targeting billing & collections processes for improvement

Learn what else respondents had to say about factors affecting their profitability, steps they’re taking for better results, and new developments they find promising. Get your free copy of the Practice Profitability Index today.