Top 6 Tips to Staying Independent
In the changing healthcare world, being an independent physician can be difficult. Check out a few collected tips to prepare your practice to remain successful as a business:
1. Embrace your inner small businessman (or woman). Make sure you have a numbers person on board, and be critical about your bottom line.
2. Get (or be) a tech expert. In a changing health marketplace, stay ahead of regulations and requirements by having a tech savvy solution provider. Seek out an all-in-one solution that can integrate multiple services and save you time (and money).
3. Patients = customers. Healthcare costs are rising, and patients demand quality service for their spend. Select a patient-friendly EHR system, and engage patients in holistic care methods to facilitate a better care experience.
4. Tie in other reimbursement opportunities. Medicare reimburses for several wellness and care coordination initiatives, such as chronic care management and mental health assessments. Take advantage of the chance to get extra revenue in the door while contributing to better patient care.
5. Track your efficiency. Utilize your EHR and practice data to be more efficient and enhance clinical performance. Get consulting assistance for an outside perspective.
6. Understand what your patients want. At the end of the day, it’s all about providing the best possible patient care. Use analytic data, relationship building and patient preferences to deliver a best in class experience.
Embracing change is essential to succeeding in an ever-changing healthcare world. Having the right people in place to recognize change and lead the charge to new technologies, regardless of your independent practice size, is key to staying afloat.
- 1. New Hospital-Practice Subsidiary Model Blends Physician Employment, Independence
- 2. Trump Rolls Back ACA Provisions with New Plan Options
- 3. MGMA: 4 Factors of High Performance Practices
- 4. ONC Dials Back Meaningful Use Certification Program
- 5. Patients Pay the Price When Hospital Giants Hire Your Private Practitioner
Affordable Care Act (ACA)
chronic care management
Doctors Administrative Solutions
electronic health records
Health Information Exchange (HIE)
Merit-based incentive program
quality payment program