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Starting a new practice is often wrought with instability. As a result, a number of young physicians are opting for the safety of hospital employment – only 35% of physicians under the age of 40 are practicing in groups of
CNN recently published an article titled “Doctors Going Broke.” It described several cases of independent physicians who are near bankruptcy. The article detailed the case of Dr. William Pentz, a cardiologist in a small group practice, who had to borrow
When reporting on the opinions of doctors as a group, journalists often use the stance of the American Medical Association (AMA) as shorthand. But the AMA, the nation’s largest association of physicians and medical students, has a membership of less
Most of us work in busy offices where things can get lost in the shuffle and mistakes are made. But by identifying the most common mistakes, many errors can be avoided, which saves practices both time and money. By avoiding
Ever since the HITECH Act was signed into law, physician mind share has been almost exclusively directed toward electronic health record (EHR) adoption. The attainability of Meaningful Use incentive funds has caused a nearly singular focus on EHRs across the
At a private practice, the departure of an experienced medical billing professional can be more than just an inconvenient, unwelcome loss – it can be downright debilitating. A small practice might have only one or two billers on staff. If
To the relief of doctors across the U.S., federal lawmakers have now agreed to a tentative deal that delays the 27.4% cut to Medicare physician payment rates. As long as the deal goes through, the current rates will be extended
The MGMA estimates that, on average, U.S. medical practices are failing to collect 25% of the money they’re owed for treating patients. That means $125 billion is left on the table every year. Power Your Practice understands the challenges medical
With the state of the economy in flux, the last thing you want happening at your practice is an employee exodus. Training new hires is expensive and time consuming, so having a set of reliable staffers who are experienced in
According to the American Medical Association, physicians who switch to electronic claims processing can dramatically reduce the cost of submitting claims from as much as 14 percent of revenue to roughly one percent. With the MGMA estimating that U.S. medical
