Financial Health Check Up
- Getting busy physicians to participate in continuing medical education is almost impossible unless they think material is practical for them. It also helps if some of it is mandatory.
- Not only are a majority of physicians stressed, but the negative trend is getting worse. And compounding the problem is the fact that few feel they could get help from work to deal with the stress.
- There are many benefits to physicians using patient satisfaction surveys, but perhaps none more important than where new products or treatment protocols are being provided.
- Negative online reviews do happen, and physicians need to know not only how to minimize their impact, but how or even if they should respond.
- For years the adoption rate of EMRs into medical practices was slow. However, not only did growth of EMR sales see a sudden jump in 2011, but web-based solutions led the way.
- The concept of telemedicine is catching on — not just as a way for patients in rural areas to connect with physicians, but as a means for physicians to grow their practices by expanding their reach.
- Patient privacy and confidentiality violations occur in the medical practice setting more frequently than one might think. A HIPAA compliance plan can help cut down on these accidental breaches.
- The deadline for ICD-10 has changed multiple times, but that doesn't mean that physicians should brush it off. ICD-10 increases diagnostic codes five-fold, but it's not as daunting as you might think.
- Medical practice inefficiency is a widespread problem and many medical practices are unable to implement efficiency changes because they are often economically strapped.
- The best way for physicians to manage their finances is to put their A team — their financial dream team, if you will — on the field. And the operative word being "team."
AUTHOR BIO
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Ed Rabinowitz is a veteran healthcare journalist with more than thirty years of writing experience. He has been covering the financial and healthcare marketplaces for the past 13 years.
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