It’s fitting that this week was huge at Power Your Practice because we’re debuting our “Power 5 Week in Review,” where we’ll compile bite-sized “vittles” of the week’s content in a digestible form.
As usual, the wide variety of topics covered this week will help medical practices navigate the troubled waters of medical billing and emerging healthcare technologies. Scroll through for a quick recap. Enjoy!
We kicked off the week with “Getting Paid for Meaningful Use” by Shawn McKee, which provided useful insight into the topic of Meaningful Use monies.
The article outlines the three main components for Meaningful Use attestation, delves deep into Stage-1 requirements and reminds physicians and practice managers of the recent release of the proposed Stage-2 Meaningful Use requirements.
Madelyn Young questions the value of medical associations in “Medical Associations: Are the Benefits Worth the Dues?” noting that only 15% of practicing US doctors belong to the AMA, totaling less than 220,000 members.
However, Young establishes the more qualitative values of joining one of these associations, which can provide physicians with “fulfilling relationships, professional networking and leadership opportunities, career advancement leads and easy access to recommendations, resources and advice on a wealth of business or patient care topics.”
“Medical Associations” is even resonating on MGMA’s LinkedIn message board now.
In “New Medical Payment Models: Risk vs. Reward,” frequent Power Your Practice contributor Donald Bryant addresses how new medical payment models affect the income of both independent and hospital physicians.
After outlining a number of these challenges, Bryant puts together a list of resources that “describe pathways for physicians can take to improve their income and outcomes for patients” in a revamped reimbursement landscape.
“Actionable Analytics: Improve Profitability Through Data-Driven Decisions” is part of a ten-week series curated by the Power Your Practice team, where we break down the useful Actionable Analytics whitepaper, which you can also find on the CareCloud site.
In this week’s installment, we help physicians and practice managers settle on an analytics system for their practice, so they can more effectively utilize valuable reports and resources to increase profits, improve efficiency and enhance the patient experience.
At Power Your Practice, we believe in our own version of casual Fridays, and so we aim to provide edgier content, either structurally or by featuring more lighthearted topics, at the end of the week. In Ahmed Mori’s “New Medical Practice Start-Up Quiz,” we introduce our first interactive quiz, so our readers can interact with our content more directly.
With this quiz, we aim to help entrepreneurial physicians who dream of or are actively working on launching a start-up practice. It’s essential for the budding medical practice entrepreneur to analyze the indicators that will make his/her practice succeed and apply this information to build a comprehensive practice start-up plan.
Take the quiz and see how you score!
Click back to Power Your Practice next week for useful facts on how e-prescriptions will save healthcare billions, a discussion of whether IBM’s Watson supercomputer can simplify the way you run your practice, some investigation of new practice payment models, another installment of our “Actionable Analytics” series, and a few tips on how to grow your business.
Do you know what you need when setting up a new medical practice?
