Doctors are reconsidering their business model as the industry changes.

doctor_calculatorRoseland, NJ law firm Brach Eichler conducted a survey of nearly 150 doctors throughout the state. The physician’s outlook concerning their medical practice for the coming year was a fairly even mix:

 

 

 

 

 

The most common answers from those with an unfavorable outlook, why?

  • Increasing insurance premiums
  • Declining reimbursements – Nearly two in three (63.4%)  indicated a decline
  • Increasing competition, particularly from hospitals
  • Declining autonomy
  • Increasing regulation and paperwork
  • Declining quality of patient care

The common denominators, in light of the mercurial state of health care reform:

  • Uncertainty
  • Consolidation

Nearly half (45.5%) are considering changing their practice structure in 2013. The most common contemplated strategy expressed by half the physicians was to integrate with an Accountable Care Organization (ACO) – groups of doctors, hospitals, and other health care providers, who come together voluntarily to give coordinated care. Interestingly 95.2% of those practitioners that have joined an ACO indicated they have not seen any benefits to date.  That statistic underscores the importance of getting sound advice – understanding all your options before you make any less than fully informed decisions.

I’d never attempt to perform a medical procedure – perhaps you should consider not making any significant business decision – likely one of the largest financial decisions of your life – without expert advice?

Connect with Roger on Google+

Tags: , ,

Share This:

Facebook
Google+
https://www.metronynjb2bcfo.com/doctors-are-reconsidering-their-business-model-as-the-industry-changes/">
Twitter
LinkedIn