Since implementation of the Affordable Care Act, the challenges facing primary care doctors have multiplied. Even verifying new health care exchange coverage has become a Herculean task. The launch of ICD-10 has been deferred for another year, but the AMA estimates it will cost $56K-$226K for a small practice to implement the new codes.
Many providers have decided that only hospitals or large health systems have the resources to get through this next hurdle. Many have closed their private practices for the security of the large hospitals and what they can offer. Hospitals face pressure to downsize, eliminate excess beds, lay off personnel or implement pay cuts when faced with large costs to implement new systems and regulations. And….what happens to that physician when they don’t see the required 4 patients per hour or meet monthly and yearly quotas for revenue and patients seen? Where has the security gone? And what about patient care? Isn’t that the reason the private practice was started in the first place? What happens to the patient in this scenario? What happens to quality of care? Both of these things suffer. It’s all about hospital economics and not about the patient or quality of care.
We do not believe the private medical practice is going by way of the dinosaur. In fact, we are working with private medical practices everyday to help them be profitable, keep their medical practices, and provide the quality care that they want to give their patients without the constant pressures of hospital economics. We are ready for ICD-10 and it isn’t costing our clients hundreds of thousands of dollars to implement. Our systems are ready, we are trained, and we are working with each client to make it easy for them to implement the codes for their specialty. We also are working with our clients to optimize coding for each insurance company for each patient encounter by educating, and reviewing medical records to obtain maximum allowed reimbursement for all services provided to each patient.
Please give us a call if you’re concerned about your privately owned practice, we would be happy to help you in any way we can. There is nothing better than the gratification of a your practice full of happy patients!
As always call toll free….. 1.877.666.5279 …. and…Take Advantage