As mentioned in our previous post discussing challenges for physicians, the evolution of the healthcare industry has forced many physicians to reconsider how their practice operates.  After reviewing Medical Economics’ article, “Top 15 Challenges Facing Physicians in 2015,” Scott Public Relations has summarized another five critical challenges facing physicians in 2015:

  1. Increasing operational costs. Rising overhead has hurt physicians financially and many practitioners struggle to remain profitable. According to a 2014 Medical Economics Physician Practice Survey, eighty-four percent of physicians report that their practices are doing the same or worse financially than a year ago. Increases in staff and technology cost have also made it difficult for physicians. Experts suggest that physicians avoid the temptation to slash overhead expenses at the cost of reducing quality patient care. It is often beneficial to put overhead expenses to work generating revenue.
  2. Physicians face pressure to give up independent practice. Operating as part of a hospital alleviates some of the administrative burdens for physicians as well as alleviating some of the competitive pressure independent practitioners face. Some ways to increase the success of an independent practice are to revamp billing practices, re-examine fee schedules, look for high-impact savings, and joining forces through an independent physician association.
  3. Payers have begun dictating healthcare. The increasing frequency of audits can erode physician’s satisfaction with their profession. For example, physicians have to deal with a range of audits tied to meaningful use and other programs. “The federal government can audit Medicare patients’ charts, while individual states can audit records for Medicaid patients, since they fund Medicaid, up to 10 years after a patient’s treatment.” For this reason, it is very important that physicians keep scrupulous records of all their patients.
  4. Patients have begun dictating healthcare. Physicians always want to practice quality medicine while receiving positive feedback from patients, but gaining positive feedback has become more difficult for primary care physicians (PCPs) to obtain. The Physician Quality Reporting System alongside evaluation websites have made patient satisfaction more challenging. As a result, physicians often times modify their practice patterns. This can be problematic as it can put pressure on physicians to over-prescribe drugs in order to make their patients happy. This creates a difficult line to walk, but physicians should avoid submitting to every patient’s demands in order to maintain a successful practice. Sometimes patients need to hear the word “no.”
  5. Concerns about liability and malpractice insurance. The drastic increase in number of patients as a result of the ACA has contributed to increased malpractice claims. Due to this change, some physicians have begun practicing defensive medicine to avoid liability. New malpractice standards have been implemented in some states, which require that accusers prove that the physician consciously neglected to provide reasonable care.

With the constantly evolving healthcare field, physicians are having a difficult time “walking the line” between providing quality care, adhering to new guidelines and maintaining a revenue-generating practice.

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