Category: Healthcare

21 Dec 2016

Most Memorable Healthcare Industry Articles From 2016

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As 2016 comes to a close, here’s a recap of healthcare industry articles that shaped our thinking.

1. Modern Healthcare’s 10 most clicked articles of 2016 – by Modern Healthcare

2. From Cybersecurity Threats To The Collapse Of Theranos, Here Are The Top Ten Healthcare Quotes Of 2016 – by Dan Munro, Forbes Contributor

3. Medical and Health News That Stuck With Us in 2016 – by The New York Times

4. I Know You Love Me — Now Let Me Die – by Louis M. Profeta MD

5. Ten Favorite Healthcare Commentaries Of 2016 – by David Shaywitz, Forbes Contributor

6. Angelina Jolie’s breast cancer op-ed may have cost the health system $14 million in unnecessary tests – by Julia Belluz, Vox

7. Rethinking Healthcare [A Simplified Approach To Care] – by Praveen Suthrum, Cofounder and President, NextServices

8. Why Giant Hospital Systems Might Be Getting it Wrong – by Michelle Chaffee

9. [Podcast]: Inside The Debates Shaping Health Policies And Politics – by POLITICO’s Pulse Check

10. Telemedicine is now Medicine – by Daniel Barchi

 

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21 Dec 2016

Articles on 2017 Healthcare Industry Trends – In One Place

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Are you wondering what you need know for 2017? Don’t worry. We did too. Here are all the major healthcare industry trends by leading publications. All in one place so that you don’t have to spend time searching to stay on top of your game.

1. 7 (plus 1) Predictions For Healthcare IT In 2017 – by Paddy Padmanabhan, CIO Magazine

2. The Future Of Tech: 16 Trends For 2017 Through 2022 – Health Data Management

3. 27 Hot Health Techs To Watch In 2017 – by Mike Miliard, Healthcare IT News

4. The Most Exciting Medical Technologies of 2017 – Dr. Bertalan Mesko, The Medical Futurist

5. Why Drug Costs Will Keep Rising in 2017 – by Bob Kocher and Bryan Roberts, Fortune

6. PwC’s Top 10 Healthcare Industry Issues For 2017 – Jack McCarthy, Healthcare IT News

7. 6 experts share healthcare RCM predictions for 2017 – by Kelly Gooch, Becker’s Hospital Review

8. 2017 Healthcare Outlook: Navigating the Industry’s Uncertain Future – by Rulon Stacey

9. Physician Predictions For 2017 – Medical Economics

10. Now’s The Time To Prepare For 2017 Quality Reporting For ASCs – by Vikant Shah, NextServices

11. Healthcare Data Breaches, Ransomware Top Challenges in 2017 – by Elizabeth Snell, Health IT Security

 

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21 Dec 2016

Trending Medical Books For 2017

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Wondering what books to catch up on during the holidays? Here’s a list of healthcare/medical best sellers and a few hidden gems that are trending in the healthcare industry now.

1. When Breath Becomes Air – by Paul Kalanithi. A powerful look at a stage IV lung cancer diagnosis through the eyes of a neurosurgeon.

2. The Gene: An Intimate History – by Siddhartha Mukherjee. Insightful book on how the science has grown so much more advanced and complicated that we are developing the capacity to directly manipulate the human genome.

3. Being Mortal: Medicine and What Matters in the End – by Atul Gawande. The bestselling author tackles the hardest challenge of his profession: how medicine can not only improve life but also the process of its ending.

4. Bellevue: Three Centuries of Medicine and Mayhem at America’s Most Storied Hospital – by David Oshinsky. From a Pulitzer Prize-winning historian comes a riveting history of New York’s iconic public hospital that charts the turbulent rise of American medicine.

5. Five Days at Memorial: Life and Death in a Storm-Ravaged Hospital – by Sheri Fink. An elaborately researched chronicle of life, death, and the choices in between at a New Orleans hospital immediately following Hurricane Katrina.

6. Fat Chance: Beating the Odds Against Sugar, Processed Food, Obesity, and Disease – by Robert H. Lustig. Author documents the science and the politics that have led to the pandemic of chronic disease over the last 30 years.

7. If Disney Ran Your Hospital: 9 1/2 Things You Would Do Differently – by Fred Lee. Using examples from his work with Disney and as a senior-level hospital executive, author Fred Lee challenges the assumptions that have defined customer service in healthcare.

8. Sometimes Brilliant: The Impossible Adventure of a Spiritual Seeker and Visionary Physician Who Helped Conquer the Worst Disease in History – by Larry Brilliant. When a powerful mystic steps on the hand of a radical young hippie doctor from Detroit, it changes lives and the world.

9. Drug Dealer, MD: How Doctors Were Duped, Patients Got Hooked, and Why It’s So Hard to Stop – by Anna Lembke. Three out of four people addicted to heroin probably started on a prescription opioid, according to the director of the Centers for Disease Control and Prevention.

10. Starved: A Nutrition Doctor’s Journey from Empty to Full – by Anne McTiernan. A search for understanding the complications of family and a parallel exploration of our relationship with food, as either nurturer or torturer.

11. Mind: A Journey to the Heart of Being Human – by Daniel J. Siegel M.D. A scientist’s exploration into the mysteries of the human mind.

 

 

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20 Dec 2016

11 Ideas to Grow Your Medical Practice in 2017

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The New Year is the time for retrospection and re-evaluating business choices made over in the past. Here are 11 ideas that you could choose to apply to your medical practice for consistent growth and fulfillment.

    1. Nurture your referrals network:
      Identify the top 10% of your referrals that contribute to over 80% of your business. Build meaningful relationships with this referral network of doctors who send you patients.

 

      1. Submit claims everyday:
        We can’t stress enough the importance of submitting clean claims every day. Your reimbursement and its predictability depends on the frequency of correct claims submissions.

 

      1. Take prior-authorizations 5 days in advance:
        Denials for pre-authorizations constituted 17% of total denials for a surgery center we closely worked with in the past. Don’t let this happen to your business, take prior authorizations at least 5 days in advance.

 

      1. Perform eligibility and benefits check for all your patients:
        Despite your good intensions of providing timely services, you would lose money if the patient’s insurance is inactive. Check eligibility and coverage benefits for all patients at least 2 days prior to the date of service.

 

      1. Engage patients through your medical record:
        Patients are your most underutilized brand advocates for new patient volume, which leads to downstream revenues. Engage patients by sending them a professional looking electronic medical record file right after you see them.

 

      1. Check your fees schedule annually:
        Review your reimbursements on procedures and consults with the agreed upon rates as per contracts. Appeal on instances where you do not get reimbursed accurately. Negotiate for better rates.

 

      1. Work on denials within 24 hours:
        Take action on denials as soon as they occur, often within 24 hours. This will not only keep your accounts clean but also ensure timely collection of your claims. Do better than industry standards by keeping your AR 90+ days below 10%.

 

      1. Promote your services online:
        As of 2015, 85% of American adults were online. Most patients look up their doctors online before their appointments. Getting online will help your business gain visibility, connections and get more patients. Also consider signing up for local listing services such as Google My Business.

 

      1. Explore expansion avenues:
        Consider starting new procedures that are unique to your region to gain access to bigger patient population. Moreover, look for opportunities to add a new physician or physician assistant to distribute work and improve financials.

 

      1. Use better analytics:
        Instead of just tracking your reimbursements month on month or quarter on quarter, give a thought about the broader metrics that influence your performance. Analytics such as, top payor mix, physician wise cases to reimbursements (for practices with more than one physician), established vs. new patient volume, first pass clean claims ratio, lag days analysis, etc. prove to be essential benchmarks that give up a complete picture of your practice health.

 

      1. Stay compliant:
        As per PwC report, 85% of large healthcare organizations experienced a data breach in 2014. Educate your staff and deploy precise HIPAA policy in your practice. Apart for security compliance also be in sync with regulatory, quality and coding compliances such as ICD-10, MACRA, SPARCS and HCRA (for state of New York), PQRS reporting and Meaningful Use compliance.

 

There you have it – an extensive list of easy and necessary changes that will help you control the business side of medicine, thereby giving you better work-life balance.

Wish you a smooth year ahead!

 

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