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Today's independent physician is overwhelmed by the challenges posed by the 3 "big Rs": reimbursement, regulation, and recession. As a result, many are falling victim to hospitals, which see the opportunity to buy up individual practices unable to cope with the 3 Rs, and thereby control healthcare in their region.
So how do you fight back against the 3 Rs? Let's take them one at a time.
Reimbursement-From my experience as a healthcare consultant, I am convinced we are facing a 20%-22% reduction in reimbursement by 2012, at least for Medicare and Medicaid. Given that the commercial carriers will almost certainly follow suit, we are then looking at a loss of 20% of our revenue. How do we deal with that loss? By thinking differently. At a minimum, you must: