Healthcare Reform has drastically transformed the landscape of independent healthcare providers. Doctors in private practice are dealing with an enormous amount of pressure and regulation which has caused them to spend less time with their patients and more time with paperwork! Technology requirements like ICD-10, HIPAA regulations, Meaningful Use/MU2, declining reimbursements, Maintenance of Certifications, Collecting Co-Pays, Burnout Stress, Rising Operational Costs, Value-Based Payment Models, Patient Reviews and Staff Retention all contribute to the many challenges doctors in private practice face with much uncertainty for the future.
As a doctor in private practice, many things are outside your control. However, we have found that doctors who are more proactive by implementing ancillary services, such as Physician Dispensing, have an opportunity to impact their practice in a positive way vs. other practice that only “go with the flow” and let circumstance guide them down the wrong healthcare path out of private practice.
MedX focuses on assisting doctors who want to control their path with ancillary services as a way to help them remain independent. We understand the temptation of joining a large hospital system from a small independent practice’s perspective. However, there are trade-offs for giving up the freedom of being in private practice. After joining a large hospital system, we have seen some physicians returning to private practice because the compensation they receive from hospitals has become less attractive after the expiration of their initial contracts.
Doctor’s, who are hospital employees, have virtually no autonomy and are encouraged to direct patients to hospital-owned facilities. Also, some doctors also do not get along well with other physicians, and this can cause a decrease in job satisfaction if they convert from independent to employee.
MedXSales offers an opportunity for doctors to keep their independence using dispensing program(s) that improve cash flow. If your practice is under water or headed in that direction, contact us for a free consultation. Dispensing is not always a good fit for every doctor, but at least you will have a greater understanding of what options are available to you.