Many physicians are seeking more independence in the healthcare industry. One trend is to transition to a private practice from a hospital. An alternative is to open a private practice and charge patients a monthly subscription fee instead of accepting insurance. The following are some tips on how to successfully transition to an independent, private practice
Read MoreHospitals must rethink their mission and strategy due to escalating health costs, insurer consolidation, ACA implementation and increased price sensitivity by employers and consumers. Operating margins are diminishing and pressure to keep premiums down is increasing. Therefore, increased enrollment is simply necessary stay in business and consequently the commercial insurance market is shrinking.
Read MoreA new survey conducted by the American Association for Physician Leadership and the Navigant Center for Healthcare Research and Policy Analysis, found that more than 69% of physician leaders agree that doctors should be held accountable for costs as well as quality of care. The comprehensive survey included 2,938 physicians and examined their attitudes toward healthcare reform, payment models, physician leadership competencies and the move from fee-for-service to value-based care delivery.
Read MoreThe number of independent physicians has declined over the last several years, from 57 percent in 2000 to 49 percent in 2005 according to a report conducted by Accenture. It's not a surprise that respondents mentioned reimbursement pressures (36%) and overhead cost (23%) as the two main factors for leaving independent practice.
Read MoreThe U.S. spends about 50% more per capita on healthcare than other countries with comparable levels of income and development. The biggest contributors to these high expenditures include higher prices for medical procedures, hospital days, and drugs as well as higher utilization of medical resources and higher administrative costs. However, the U.S. is uniquely positioned to make big strides in reducing healthcare costs despite its dismal past in healthcare cost management.
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