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Learn tips that help independent physicians grow successful practices.
The independent physician is typically focused on providing value-based care for patients and on running a financially successful practice. Money decisions that an independent physician must make include personal financial considerations that often are neglected, in deference to the need to care for patients and run an efficient practice.
A recent article in Medical Economics suggest several areas for the independent physician to pay attention to when making money decisions:
Student debt. The Association of American Medical Colleges has found that 75% of medical students carry debt related to college and medical school. The median debt for independent physicians is $200,000. Refinancing that debt could help the independent physician save money, depending on the type of loan involved.
Retirement planning. Even the youngest independent physician who may have just launched a practice should start thinking about retirement funds. Putting money into a 401k or 403b can be a smart strategy for preparing for retirement.
Children’s college funds. Independent physicians still paying their own college debts may be challenged with envisioning the need to pay for their children’s education. However, just as with retirement planning, the earlier the parent gets started, the more the child will have available when the time comes to go to college. State-sponsored 529 plans can be a good option for investing for the independent physician’s children’s college funds.
Life and disability insurance. Physicians in independent practices are not able to rely on employers to provide benefits such as life and disability insurance. They should consider investing in insurance policies that will provide coverage if they are not able to work and generate income as well as appropriate life insurance to provide for their families.
Estate planning. Money decisions that affect the independent physician’s family should be made as early as possible. Estate planning includes designating a power of attorney, writing a will, and possibly even establishing a trust.
A professional financial planner or investment advisor can help guide the independent physician in the necessary and appropriate money decisions that will affect the physician’s practice and family, throughout every stage of the independent physician’s career.
Lynley Norberg November 1, 2019Read
The story of whether independent physicians are declining or rising is different in each state. A Physicians Foundation survey conducted in 2014 found that the highest number of independent physicians were located in Louisiana. According to the survey, 52% of the physicians in that state were practicing as independents. The lowest number of independent physicians was in North Dakota, where only 7% of physicians were in independent practices.
After Louisiana, the next top nine states were: Texas (49%), New Jersey (45%), Illinois (44%), Arkansas (43%), Hawaii (42%), Idaho (42%), Arizona (39%), Utah (38%), and Tennessee (38%). Ranking just above North Dakota, in the bottom ten of the list were Vermont (24%), Minnesota (23%), Massachusetts (23%), Alaska (19%), Indiana (19%), New Mexico (18%), New Hampshire (18%), South Dakota (17%), and Wisconsin (12%).
In 2018, Medscape ranked the “best” and “worst” states in which to practice, based on factors such as “physician compensation, burnout, malpractice, healthcare quality, access to health and rate of uninsured patients, … personal well-being, cost of living, higher education levels, median earnings, tax burden and unemployment.” In their study, Medscape determined the top five states to be:
Medscape determined the bottom five states to be:
In contrast, a research study reported by US News & World Report and based on factors included in the categories of “opportunity and competition” and “medical environment” found the ten best states for physicians to be: South Dakota, Nebraska, Idaho, Iowa, Minnesota, Wisconsin, Kansas, Montana, North Dakota, and Wyoming.
Lynley Norberg October 17, 2019Read
The role of the doctor in healthcare is changing. To ensure success, independent physicians must do more than just provide phenomenal care - they need to understand the business side of medicine too. The competing aims of running an independent medical practice and providing patient-centered care can feel overwhelming. While there’s a lot to cover – here’s a quick overview of the essentials of running an independent medical practice.
There are several ways that independent physicians can sharpen their practice management skills while maintaining their focus on their patients. Here are some recommendations to balance running a business and keeping your patients happy – all at once.
Before the widespread adoption of Electronic Health Records (EHRs), independent physicians would need to complete a file full of paperwork on a patient, review the information before the patient visit, and potentially wait for faxes of additional paperwork from specialty providers after the visit. Time was wasted on excessive documentation and delays in receiving information from other providers, which further increased the potential for errors and duplication – then along came the EHR.
EHRs enable physicians to easily input patient data and to have immediate access to other providers’ data on that patient. In addition, the EHR, often referred to as an EMR or electronic medical record, improves “patient safety by requiring computer-based physician orders that eliminate illegible handwriting and misinterpreted verbal orders,” according to the Harvard Business Review (HBR).
Diagnoses are more accurate, particularly for patients with chronic or complex conditions who require coordinated treatment by multiple physicians. EHRs enable those physicians to collaborate to ensure that duplications or errors are reduced and even eliminated when prescribing medications, ordering lab tests, and developing a detailed healthcare plan.
EHRs help physicians provide more accurate diagnoses while providing more collaborative care.
As an independent physician, you have been trained and educated to treat patients. Your staff is essential to keeping your practice running smoothly. As shifting payment and business models place more demands on care coordination and patient engagement, staff plays an increasingly patient-facing role. The office staff at independent practices play a key role in ensuring that patients are happy and that you can give your attention to their medical needs.
Some of the tasks performed by office staff at independent practices include:
With a capable team in your office, you can spend less time worrying about administrative details and more time focusing on patient care.
When determining the number of office staff needed for independent practices, it is helpful to check industry benchmarks. It is also important for you to have an understanding of how you work – and how you prefer to work. For example, if you are well organized, tend to stay on schedule, and are generally able to complete your paperwork in a timely fashion, you will need less help in the office. If your independent practice uses an EHR system that virtually eliminates the abundance of paperwork found in a typical medical office, you will also need fewer staff members.
Gauge carefully the number of staff members you will need, be sure they know their specific responsibilities, and train them in medical office and customer service skills. Your patients will appreciate the treatment they receive from your dedicated staff, before and after they receive treatment from you as their physician.
Patient engagement is an important part of an independent physician’s role in providing high- quality care. Patient engagement means more than having a conversation during a visit. If you are a primary care physician, it means quarterbacking the patient’s care, following up to ensure the patient is completing their care plan, communicating test results, and checking in on the progress of the patient’s medical plan. It also means the difference in having that patient return for follow-up visits and quite possibly even the difference in the future health and welfare of that patient.
Key steps to improving patient engagement and care coordination:
For independent providers, providing coordinated care can be a huge challenge. When your patients see specialty providers, have lab tests, or receive services at other healthcare facilities, the primary care provider can be left in the dark. For high-quality, coordinated care, this information is essential in making the right care decisions for patients, and it’s all about interoperability.
Interoperability has become a huge healthcare buzzword. How does it make a difference in patient care?
HIMSS defines interoperability as “the ability of different information systems, devices or applications to connect, in a coordinated manner, within and across organizational boundaries to access, exchange and cooperatively use data amongst stakeholders, with the goal of optimizing the health of individuals and populations.”
The most important outcome of interoperability is ensuring the physician can use the information that is being shared. As an independent physician, you need to be able to interpret data quickly and easily to provide your patients with quality coordinated care.
Faxes, emails, and even phone calls provide ways to share patient information. However, digital interoperability, where electronic systems are in sync, is more elusive.
Unfortunately, the lack of investment in integration tools and interoperability from large health systems means that often, EHR data is siloed in hospital EHRs and can’t be integrated to ambulatory EHRs or easily acted upon by physicians or patients.
APIs, HL7 technologies, and other integration protocols are growing, however, and more healthcare IT companies are taking an open approach to interoperability. Application program interfaces (APIs) can be a big driver for toward a more interoperable patient record. APIs essentially enable software systems to access each other’s information and can allow all of the members of a care team across applications to access patient information, including crucial data that has been inputted by other providers the patient has seen for care.
Running an independent medical practice takes a lot of work but is extremely rewarding. By taking the time to review the business aspects of medicine you are already on the path to success. Understanding how to handle back-office tasks effectively, optimize workflows with technology, and find a good team will provide the backbone you need to focus on patient care.
To effectively run an independent practice and get paid, you also must understand which health policies impact you and determine what type of practice model you want to implement.
For more information on these components of running an independent medical practice download our eBook: The Business of Medicine.
Lynley Norberg October 7, 2019Read
Download the comprehensive Business of Medicine eBook
The role of the physician within the business side of medicine is rapidly evolving. The complexity of treating patients and running a medical practice has increased. Keeping pace with technology adoption, policy changes, and emerging new payment models highlight the need to focus on effective operations in a medical practice. Balancing the art, science, and business side of medicine has become the new normal for any physician, whether you run your own practice or work for a hospital.
Many med school grads want to open their own practices – but don’t know where to begin. Here’s a quick overview of everything you need to know to get started.
Healthcare has changed significantly over the last few years and therefore, so has the business side of medicine. Previously, most doctors operated under a fee-for-service (FFS) model where they would perform services and then receive payment. Now, policymakers are shifting away from the FFS model towards a value-based care approach, where physicians are paid based on patient health outcomes.
Value-based care focuses on the quality of patient care rather than the number of patients seen. Its goal is to provide better care for individuals and to improve population health while lowering costs.
The implementation of value-based care lies in a variety of health policies. It impacts how physicians work and get paid more than ever before. Below is a list of health policies that impact independent practices the most:
As a result of these healthcare policies and shifts in medicine, new practices models are emerging:
Despite what the media reports, not all private practices are becoming victim to healthcare consolidation. Just under half of all physicians owned their practices in 2016, which is only slightly lower than in previous years. These practices are focused on providing high-quality care and building strong relationships with their patients, even with new administrative burdens.
Healthcare is personal and intimate. Patients trust doctors to provide a very important service and staying independent allows physicians to spend more time with each patient. They also have additional freedoms like:
The network that is created by independent physicians provides patients with a huge range of health professionals to select from for whatever they need – instead of being limited to a single corporation. This means that patients can always get the best care possible.
Recent studies reaffirm the idea that independent practices provide the most cost-effective and high-quality care.
There are a lot of components to consider when it comes to running an independent practice. Here are a few tips and tricks to help you keep things going smoothly:
With the right tools and team plus an understanding of the business side of medicine, you are set on the right path towards a thriving career as an independent physician. Taking the time to review the administrative principles will allow you to focus on providing exceptional patient care in the future.
At Elation, we understand how running a successful practice while providing patient-centered care can feel overwhelming. We’re dedicated to developing resources and tools to make the long-term success of your practice feel manageable while providing phenomenal patient care.
Lynley Norberg September 30, 2019Read
Opening a medical practice, although challenging, is very rewarding for many physicians. Lots of new doctors are turning toward a direct care model for their practices. It offers a better work-life balance, reduced practice overhead, and higher per-patient revenue. In this model, providers contract directly with patients to provide care — instead of today’s traditional method of working through insurance providers. It gives physicians more control within their practices and it provides patients with better care.
The direct primary care model provides doctors with a better work-life balance, reduced practice overhead, and higher per-patient revenue.
Review everything you need to get started in our eBook.
Here’s a list of everything you need to do when starting a direct primary care practice:
It may sound like a lot of steps, but getting started on the right foot will put you on a path to success. This post will offer you a quick overview of all of these steps — if you’re looking for a more detailed guide, download our complete Direct Care Playbook.
There are many things to consider when finding your office space. You should begin by determining your budget to whittle down the list of potential spaces. Keep in mind that direct care practices often have a smaller number of patients, so you can probably get by with a smaller office than you think. You must also consider location, as this will have an impact on your ability to get and retain patients.
Direct primary care practices tend to be a little smaller than standard primary care practices — keep this in mind when determining how much space you will need for your office.
Once you have an office secured, you’re going to need people to work in it. Some doctors operate direct care practices with no staff, but most people need a little bit of help to get administrative tasks done.
Many doctors find that a visionary office manager is one of the key players on their team. Beyond that, the number of additional staff members is really up to you. It’s important to find people with the right skills for your practice. We recommend reaching out to your existing network to find people who you can recruit to work in your office. If you’re relocating and no longer have a local network, there are also plenty of professional firms that can assist you with this process.
A welcoming presence and great communication skills are two things you will want in all of your staff members.
Determining per-patient pricing is a key step in setting up your practice. After all, this can be the difference between a thriving, profitable practice and one struggling to stay afloat. Direct care practices use membership fees on an individual or family basis that are determined by age, geography, and patient demographics. Of course, these numbers should be determined by working backward from desired salary and fixed expenses. We recommend calculating it as follows:
As a starting baseline, you can assume 300–500 patients per physician as an average panel size. Using this formula will give you a break-even point. Then you can determine what you want your take-home to be and use that to decide the final pricing model for your practice.
There are numerous technology tools that you will need in your practice, but your EHR is the most important one. You will be working with this tool every day, so you want it to be easy to use and not get in the way of your patient interactions. Here are some questions you should consider to find the right solution:
The right EHR will help you optimize and improve practice management without interrupting your workflow.
Now that back-office operations are taken care of, you need patients. We find that the most successful marketing strategy for direct primary care physicians is word of mouth. It’s important that you help educate your patients on the benefits of direct primary care, so they can act as ambassadors for your practice. If you want to formalize this process, you can also create a patient referral program that incentivizes new referrals.
In addition, you should use online methods to grow your practice. Create a website that makes it easy for patients to find you and has information on the services you provide. Once your website is built, you will need to optimize it for search engines, a process called search engine optimization (SEO). This will improve the chances of your website showing up when your future patients search for specific terms.
Additional marketing tactics include:
Word-of-mouth marketing is the best way to get new patients and grow your practice.
Medical businesses have legal needs outside the scope of a physician’s training. Utilizing legal help and resources can help your practice avoid serious problems down the line. As part of starting a direct primary care practice, you need to:
Once your practice is up and running, you must continue to optimize for success. Setting goals based on practice metrics will allow you to evaluate and determine your progress. Some key performance metrics are:
Our comprehensive eBook includes all the nitty-gritty details on everything you need to know.
Lynley Norberg September 23, 2019Read
This is a three-part series on the critical components you must address to maintain a thriving independent practice. Part 1 reviews the importance of embracing your patients, and part 2 explains how technology can support you.
Get all three parts plus additional bonus material in our eBook.
While embracing your patients and utilizing technology are important components of running a practice, financial stability cannot be ignored. Many independent primary care physicians have turned to alternative payment models to provide the funds they need to keep things running smoothly. Here’s a quick review of available alternative payment models as well as an alternative practice model.
The Centers for Medicare & Medicaid Services (CMS) defines value-based care as those programs that “reward health care providers with incentive payments for the quality of care they give to people with Medicare.” CMS began emphasizing value-based, quality health care over the quantity of provider visits in 2008. Since then, programs like MACRA and CPC+ have set forth reporting requirements and reimbursement payments.
We think a better definition of value-based care is where your practice is responsible and accordingly compensated for the population health of both publicly and privately insured patients. When done right, it can be a great way to improve the financial performance of your practice.
Value-based care provides payment bonuses to doctors who provide high-quality care for Medicare patients.
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) repeals the Medicare Sustainable Growth Rate and replaces it with a new program known as the Quality Payment Program (QPP). Beginning on January 1, 2017, qualified providers now participate in one of two tracks: either Advanced Alternative Payment Models (Advanced APMs) or the Merit-Based Incentive Payment Program System (MIPS). Bonuses for participating in MIPS or APMs can be significant.
The right technology solutions, like Elation, enable practices to achieve success with quality programs like MACRA by committing to the health IT requirements needed to support practices.
If a practice invests in technology that is built around making reporting and participation easy, physicians can save time and painlessly receive the financial incentives from these programs. Elation’s platform gets at the heart of care coordination and reporting at the point of care. More specifically, the EHR’s built-in quality measures dashboard makes it easy to track your progress on quality measures. At the same time, Elation provides clinical decision support and reminders at the point of care. Both features, along with 24/7 support to answer any MACRA-related question, enable and empower independent physicians to take advantage of MACRA while providing phenomenal care.
Primary Care First (PCF) is an exciting initiative announced by CMS in 2019 that begins in 2020. PCF will offer providers a simple “flat stream of revenue” for each patient. When a patient stays healthy and out of the hospital, the practice will receive a bonus. But if a patient ends up sicker than expected, the practice will bear responsibility for the extra spending up to a certain share of its revenue.
Primary Care First provides a “flat stream of revenue” for each patient and gives doctors bonuses if they keep patients out of the hospital.
PCF is geared toward smaller primary care practices that are centered around comprehensive care management and coordination for Medicare beneficiaries and high-risk, seriously ill patients.
Direct care is a medical practice model rather than an alternative payment model created by CMS — but because it offers another financial alternative for practices, we felt it made sense to include it with APMs.
Direct care is a medical practice model where providers contract directly with patients. For almost all of America’s history, Americans paid their providers directly for care. It was only in the 20th century that health insurance outpaced out-of-pocket pay as the primary revenue source for medical practices. But since the turn of the 21st century, direct care has made a resurgence.
In 2005, there were fewer than 150 physicians practicing in direct primary care, concierge, and other direct care models. This number grew five times in the next five years, to 756 in 2010, and then even more rapidly to an estimated 6,500 direct-care physicians across the country by the end of 2015.
For physicians, adopting a direct-care model can improve work-life balance, reduce practice overhead, bring higher per-patient revenues, and maintain physician autonomy.
For patients, direct care can mean a greater degree of access to, and time with, physicians. Improved communication and more regular, engaged care lead to fewer unnecessary tests, less frequent hospital visits, and lower total cost of care.
Although not a CMS directed payment model, this model can help independent practices stabilize their finances to help them remain independent.
Alternative payment models are just one of the factors that allow independent primary care physicians to have thriving practices. New payment models and changing reimbursement rates provide the financial stability you need. Plus, combining these new payment models with the right technology and optimized practice schedules will help you have a thriving practice in no time.
Download our free 12-page eBook
Lynley Norberg September 16, 2019Read
This is a three-part series on the critical components you must address to maintain a thriving independent practice. Part 1 explains how you must embrace your patients, and part 3 reviews alternative payment models.
Get all three parts plus additional bonus material in our eBook.
Independent primary care physicians across the US are thriving, despite what media outlets claim. How is this possible when it seems like every day you hear of another independent doctor getting gobbled up by a larger practice? Thriving practices are using newly architected models that focus on optimizing practice processes to provide better patient care more sustainably. Specifically, practices are using new tools in order to reduce administrative burden so they can focus on patients.
The promise of technology changing practices instead of becoming another burden has been heard in medicine many times before. But in reality, you and your colleagues are unlikely to flourish without adopting effective tools that automate and streamline practice management. Reporting and administrative requirements have increased, and unless you’re running a truly cash-only practice, they’re bound to increase even more.
There are only three ways to handle this administrative burden:
The only sustainable approach is the third. In today’s economy, if something can be automated, it will be. And those who stubbornly stick to old methods will find themselves uncompetitive.
You’ve probably been burned before by failed expectations around EHRs, practice management software, and billing…but the reality is that you will need to try again.
If you adopted an EHR or billing software during the gold rush and find yourself still struggling with it on a weekly or daily basis, it’s time to dump it. You and your staff spend your entire day working within your EHR. You should love it, not loathe it or merely tolerate it.
It’s easy to get lost in feature comparison charts, but checklists don’t capture the day-to-day reality of using a given piece of software.
Fortunately, evaluating your current clinical software is surprisingly simple. Does it do everything that you need it to do, and do you and your staff enjoy using it?
If the answer is “no,” then get rid of it.
The days of hating EHRs are over. There’s good, affordable software that will enhance and support your clinical practice.
You wouldn’t tolerate a stethoscope that barely functions, needs constant maintenance, and looks hideous. Don’t put up with it from your software.
Of course, the right primary care EHR is just one part of the puzzle to running a thriving independent practice. The right platform will help you optimize across your practice so you can remain financially sustainable while giving patients the time they deserve.
Download our free 12-page eBook
Lynley Norberg September 9, 2019Read
This is a three-part series on the critical components you must address to maintain a thriving independent practice. Part 2 explains how technology can support you, and part 3 reviews alternative payment models.
Get all three parts plus additional bonus material in our eBook.
Many independent primary care physicians are feeling pressured to join larger medical groups or work longer and harder to keep their independent practices. But many other independent primary care physicians across the US are flourishing by re-architecting traditional practice structures. These new patient-centric practice models are improving doctor-patient relationships and allowing doctors to focus their attention on what really matters.
Every patient and physician satisfaction survey shows that the single most important aspect of the practice of primary care is the relationship between physicians and their patients. Yet quality time and interaction are often the first things sacrificed in the name of “efficiency.”
If you feel that you’re unable to spend as much time with your patients as they deserve, stop everything and concentrate on that first. Patient care is why you got into medicine in the first place. It has to be non-negotiable. We’ll discuss how you’re going to “pay” for this later, in part 2, with other tasks that can be automated, delegated, or just plain avoided. But for now, figure out how much time you have and how much time your patients need. Build your staffing and financial plan around that, rather than the other way around.
Design your schedule so you can focus more on your patients. This is the one thing you can’t and don’t want to automate or delegate.
A significant percentage of the maligned paradigms faced by independent primary care physicians today were accidentally introduced by well-meaning public and private reforms such as meaningful use, electronic reporting, payor reforms, quality reporting, etc. While all of these reforms had good intentions, in practice, they have produced massive problems for primary care physicians.
In reality, the needed tools, underlying infrastructure, and physicians themselves were simply not ready when these changes were forced onto the market. The technology to make all of this run smoothly was theoretically possible but not yet practical. The fine-tuning and behind-the-scenes logistics just weren’t there.
This first gold rush of EHRs was driven by VCs, IT people, and government spec sheets — not clinicians. As a result, a mercantilist philosophy took hold at many companies, with market share trumping quality concerns.
Initial EHR design was driven by VCs, IT people, and government spec sheets — not doctors.
Most EHRs were poor substitutes for day-to-day charting, much less the digital heart of the practice that doctors needed them to be. Doctors have been slow to recover from their disappointment at these early attempts to digitalize medicine. However, with the right tools and approach, physicians can now leverage digital tools to elevate their patient care, quality of life, and financial performance.
The result is an EHR that isn’t optimal to doctor workflows — bogging them down with extra work that takes them away from their patients.
A robust EHR solution, like Elation Health, will provide the tools you need to improve practice management. Optimized practice management processes mean you spend less time completing admin tasks, submitting labs, and sending referrals, so you have more time to spend with patients. Improving doctor-patient relationships is just one piece of the puzzle — download our complete eBook to explore how you can flourish as an independent primary care physician.
Download our free 12-page eBook
Lynley Norberg September 2, 2019Read
Mainstream media is flooded with stories about physician burnout, doctors giving up medicine, and practices being gobbled up by unwanted acquisitions. Independent physicians feel that their choices have boiled down to:
Some new doctors even view becoming an independent primary care physician as a dead-end and immediately seek employment with hospitals, large groups, or the government.
Find out how in our eBook.
However, this is a false narrative built by the media. The truth is that independent primary care physicians are flourishing across the country with private primary care practices that provide outstanding care, nurture patient relationships, and are financially stable. These practices have re-architected traditional models in order to succeed. Here’s how you can do it too.
Independent primary care physicians are thriving across the US — you just need to focus on the right things to remain successful.
The single most important aspect of the practice of primary care is the relationship between the physician and their patients. Unfortunately, quality patient-doctor interactions are often one of the first things sacrificed in the name of “efficiency.”
Spending time with patients should be a top priority, especially since taking care of patients is why you got into medicine in the first place. Concentrate on spending as much time with your patients as they deserve. It may feel impossible, but we’ll discuss how you’re going to “pay” for this later. As a first task, figure out how much time you have and how much time your patients need. Build your staffing and financial plans around that, rather than the other way around.
Design your schedule so you can focus more on your patients.
To handle the demands of your independent practice, you need effective tools that automate and streamline practice management. As reporting and administrative requirements continue to increase, this is more important than ever. The only way you can handle this increased burden is to staff up, handle it yourself, or automate and delegate to third parties.
In reality, automating and delegating tasks with advanced technology is the only sustainable solution to helping your practice thrive.
While you may have been burned before by EHRs, the latest platforms have the solutions required to optimize your practice management. If you’re struggling with an EHR that you adopted during the mad gold rush to digitize practices — it’s time to ditch it. You and your staff spend all day working within your EHR; you should love it, not loathe it or even just tolerate it.
It’s easy to get lost in feature comparison charts, but checklists don’t provide an adequate picture of what it’s like to actually use a product. Fortunately, it’s easy to determine whether you should be looking for a new solution. Simply ask yourself: “Does it do everything I need it to do?” and “Do me and my staff enjoy using it?” If you answer “No,” then it’s time to find a new solution.
Payment options are rapidly moving beyond traditional fee-for-service models. It’s important to explore these new options to determine if they can make an impact on your practice:
Maximizing these reimbursements or implementing a new practice model requires the right tools to ensure that you meet the necessary reporting requirements. A robust EHR solution provides an easy way to track not only individual patient health but population health as well — a critical component of many reimbursement programs. Using these tools will keep your practice running smoothly.
Make sure you have an EHR solution that includes the reporting tools you need to meet reimbursement program requirements.
Maintaining a thriving independent primary care practice is no simple feat, but optimizing processes with the right tools makes it easier. The right EHR system is at the heart of practice management, and it’s what drives a successful independent primary care practice. It can help you effectively complete reporting for internal use as well as for maximizing reimbursements. Even better, it will help optimize processes so you can focus on patients and give them the time they deserve.
Download our free 12-page eBook
Lynley Norberg August 26, 2019Read
The latest technology can be helpful to independent physicians as a tool for optimizing their practice as well as for providing high quality care to their patients. However, technology must typically be updated or replaced to keep up with new capabilities and with the changing needs of the independent practice. Sometimes physicians find that they need to replace their practice technology for other reasons, as was the case with many of the respondents to a recent survey conducted by Reaction Data.
The research organization “wanted to know which technologies providers are considering, which solutions they may be replacing and why” so they asked 153 physicians several questions about their current – and future – technology needs. The survey participants were made up of physicians in internal medicine (20%), family medicine (12%), pediatrics (17%), orthopedic surgery (27%), and other specialty areas. The survey also include participation by practice leadership (10%) and chief medical officers (5%).
Results of the Outpatient EHR Replacement survey included the fact that 39% of those outpatient providers surveyed were considering replacing technology solutions for their practice within the next 18 months. While more than a quarter of the providers (27%) were considering replacing their electronic health record (EHR) solution, the physicians were also considering replacing their patient engagement technology (18%), revenue cycle management (12%), and population health technology (12%).
Reasons given for replacing technology within the next 18 months varied. A third of the survey respondents (33%) said their current solutions were not fitting their practice needs. A fifth of the providers participating in the survey indicating that they recognize that other technology systems in the market offer their practices better value. Other reasons including having a negative experience with their current service model, including the support level (19%), lack of new functionality released for their current technology (18%), the cost of their current system (5%), and the fact that their organization is planning to align with another entity (5%).
When looking for a new technology solution, a fourth of the survey participants (25%) indicated they would need to consider the product’s ease of use, 23% said the product’s features and functionality would be a major consideration, and 21% indicated that interoperability and integration capabilities were important factors in their choice of a new solution.
Justin Watts August 1, 2019Read