Just keeping up with the latest challenges facing your medical practice is difficult enough, let alone coming up with strategies to overcome them. Thankfully, there are wonderful resources available from industry publications like Medical Economics.
Below, we’ve provided a little bit of information on how Beth and the RCM Brain ninjas can help you address ten of the challenges facing your medical practice in 2018. At the end of our blog, we’ve also linked to the full article outlining these common issues.
1. Avoiding Burnout & Remaining Dedicated to Medicine
The vast majority of people who enter the medical field do so because they want to make a positive impact. But contentious claim disputes with payers, confused patients, and many other factors often frustrate physicians and medical teams.
If you’d like to rediscover your passion for your calling, allow the RCM Brain ninjas to implement a powerful artificial intelligence system called Beth at your practice. In no time, you and your staff will be able to focus on patient-centered tasks again, while Beth automates the vast majority of your claim process. To learn more, you can download our one-page guide on how AI can solve major billing troubles.
2. The Time Demands of EHR Data Entry
Electronic health records have some fairly obvious benefits, but they have also depersonalized the provider-patient dynamic because they eat up a huge chunk of each appointment. According to one statistic cited in the Medical Economics article, as much as half of each patient encounter involves a physician looking at the EHR instead of the patient’s face.
Beth can’t sit with your patients, but she can allow you to spend more time doing so by freeing up time for you and your team. Among her many talents, she can help you route workflow, eliminate manual data entry errors through billing automation, and so much more.
Since you won’t be devoting time to these repetitive tasks, you can focus on patients instead of paperwork. Read the full article for more tips to make the EHR process less obtrusive in patient interactions.
3. The Growing Number of Uncompensated Tasks
Operating your independent practice has a lot of perks, but it’s not without its drawbacks. For one thing, you are forced to play a more active role in administrative tasks and other non-clinical work that does not require a medical license.
For some help minimizing these uncompensated but necessary elements of patient care, you can hire Beth. She can help your team optimize and route workflow, free up time for further staff training, and dramatically reduce your AR pile-up.
4. Third-Party Payer Interference in Patient Care
If it ever feels like third-party payers make up their rules and requirements as they go, you’re not alone. One major problem for physicians that seems to be getting worse is third-party payers requiring prior authorizations for many services, including some that are low-cost and considered routine. These interferences in the claims process cost your practice money.
As mentioned above, Beth can help you and your team have more time to devote to further staff training. As these third-party payer requirements change, everyone on your team can stay up-to-date and on the same page.
5. Managing Quality Measure Incentives & Disincentives
Your medical practice is evaluated based on a number of metrics each year. You and your team may have some idea of which criteria you will excel in or not, but that could just be an inkling.
With Beth taking over a large chunk of the back office work, you can improve many aspects of your office. Beth can even assign tasks to the most qualified staff member and help you understand each member of your team better and improve the routing of workflow.
6. Costs as Barriers to Patient Adherence
Depending on the type and level of care needed, your patients are bound to have some pretty serious financial concerns when it comes to their healthcare. You can’t provide services for free, but you can improve your communication and overall relationship with patients for greater transparency and trust.
When cost is a hindrance, you can offer many suggestions and resources to patients, like information on generic medications. But if you don’t have the time in the first place to really speak with your patients, you’ll be bound to lose some seeking more affordable care.
That’s where RCM Brain comes in. Beth can save you time so you won’t have to rush through patient interactions. She can also follow-up on patient responsibility and help you improve over time so AR tied to patient responsibility will be less of an issue.
7. The Rapidly Changing Reimbursement Landscape
Try as you might, you and your team don’t know how much you’ll be getting from certain payers. Part of why it’s so difficult to anticipate payment amounts is that there are a lot of changes that occur each year regarding fee-for-service and other treatment categories.
Beth can help with this concern as well. She can actually cross-reference historical data so your AR department can more accurately predict the expected payment amount for a given service.
8. Growing Patient Disrespect toward Physicians
You completed countless hours of training and studying to be a physician, but nowadays, thanks to the internet and social media, everyone is an expert. If a patient has already dug their heels in regarding their WebMD self-diagnosis, it can be very difficult for you to provide the care they actually need. Fortunately, technology can also help us out of this situation.
Beth can handle your AR mess, improve your billing process, and take over on many claim disputes, leaving you with more time to devote to each patient. This will allow you to get to know them better and, perhaps more importantly, allow them to get to know and trust you. Beth can also improve transparency with patients by yielding accurate predictions of expected payments.
9. Remaining Independent in a Time of Value-Based Care Initiatives
Your medical practice has to adapt to the value-based care initiatives that are taking over the field, but with the rising costs that go along with it, that can be a daunting endeavor to say the least. Don’t worry, selling your practice or joining a larger physician group aren’t the only options available.
At RCM Brain, we offer billing automation and AR cleanup services, which will reduce revenue leakage in the claims process and save on labor costs so you can focus on other, more rewarding work.
10. The Ever-Changing Healthcare Insurance Marketplace
We don’t need to tell you about the frequent changes and reforms that affect the Affordable Care Act, Medicare, and other government payer programs. Nor do we need to inform you of the frequent policy changes made by private insurance payers. But we do have some refreshing insights for you regarding these frustrations.
Sometimes it probably feels like payers change their policies so frequently to prevent you from ever keeping up with them. But when Beth takes some of this workflow pile-up off your hands, you’ll be able to devote that extra time to staying on top of these ever-changing payer policies. We can help by ensuring your software setup is up-to-date and optimized.
Get Our Help Overcoming 2018’s Latest Physician Challenges
If you want to learn more before reaching out to us, read through the full blog from Medical Economics, “Top 10 challenges facing physicians in 2018.” Or, if you’re ready to book your consultation now with one of the RCM Brain ninjas and ask us any questions you have, call 1-855-RCM-BETH or take a moment to fill out our handy online form.