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A recent article from Medical Economics Magazine underscores just how challenging things are for doctors and how the pressure is only building as we head into 2015.
I would like to take a moment to highlight and discuss some of the points made in this article.
Challenge 1: Administrative burdens
More and more paperwork is being required by insurance companies and the government. Doctors are spending inordinate amounts of time NOT seeing patients. The number of doctors who spend more than 8hrs per week (one full work day!) on paperwork jumped from 58% to 70% over a one year period.
“The physicians I know truly enjoy spending time with patients and teaching, and anything that takes them away from that is a negative,” says Henry Borkowski, MD.
Challenge 2: Independence vs. employment
We are seeing various trends as far as some doctors giving up their private practice and working for a hospital. They typically don’t WANT to do this, but feel they have no choice. A lot of doctors are going back to private practice because they can’t stand being an employee and some have been promised certain levels of income that end up changing without much notice from the hospital.
Some physicians are returning to private practice because their compensation from hospitals became less attractive after the expiration of their initial contract, says Divan Dave, chief executive officer of OmniMD.
Omni is helping three physicians, including Rajdeo, return to independent practice after being employed by hospital systems. “They got so upset at the hospital they are now converting their private practices back,” Dave says.“One of the doctors said, `I didn’t go to medical school to work for someone. I went to be independent.’ ”
Challenge 3: Payers dictating healthcare
The dreaded audit. Medicare has ramped up the auditing of doctors to make sure they are doing everything correctly and getting proper reimbursement. The penalties for errors, intentionally fraudulent or not, are very high. Huge penalties could be levied in some cases.
Luckily, our licensees have a great door opener for this issue. Our AuditGuard service will help a doctor with a sort of pre-audit to help make and adjustments and corrections to claims and workflow. That way, if they ever do get audited, the chances of fines are greatly reduced.
Read more about these and additional issues by going to the original article here:
Join Patrick Phillips, Founder and CEO of American Business Systems and Eric Ogea, Director of R&D, as they discuss the upcoming changes in healthcare that will allow you to start your own business in 2015.
Patrick Phillips, Founder and CEO of American Business Systems is joined by ABS Licensee and Lead Instructor, Cynthia Andersen, in a discussion of how she started her own business and how you can start a business with residual income with just 5 days of training.
A few weeks ago, we had yet another excited group of people graduate our live medical billing and revenue cycle management class. We had a few people with medical backgrounds this time (even a physician!) who testified to our claims that doctors are overworked and underpaid.
Starting a healthcare business isn’t easy. It takes hard work to get out there and begin building relationships with people who can be strategic partners and refer you to doctors who are willing to listen. That’s why ABS can help. We have perfected several marketing methods that virtually assure that, if done properly, will land you paying clients. Check out the video below:
This week, CEO, Patrick Phillips spoke with Bob Wilke, another successful ABS Licensee who has been through our training and has built a profitable medical billing business for him and his family. Bob shares how to start a medical business the way he did.
With no background in the medical field, Bob and his wife, Molly, started their medical business to get out of traveling so much. Bob has a background in selling sports memorabilia, so medical billing was certainly new to him! They graduated our class in 2007 and now have over 15 clients generating them a very nice income!
Patrick Phillips and Eric Ogea met this week to explain how it is possible to earn six figures annually marketing our medical billing and revenue management services to doctors.
Everyone knows that doctors are busy people. How in the world can someone with little or no experience in the healthcare industry market healthcare business solutions to doctors? We can show you how. American Business Systems has been marketing to doctors for 20 years and we have developed and perfected many different marketing methods that we teach our new licensees. We’ll give you a step by step plan of action that you can take home after completing our 5 day live training class, and if you just follow the steps, you can get doctors interested in working with you! We do a lot on the back end to help you educate doctors and let them know that you aren’t working alone. They will see that you have a solid team of people behind you (that’s us!) and will be happy for you to take over some of the things not directly related to patient care that they fret about when they go home at night.
Here’s just a sample of all the things that we do for you when you become a licensee:
– Live Training
– Provide educational materials to doctors
– Help you with doing practice analysis
– Billing/EHR system demos done for you
– Help with proposals
– Help with agreements/contracts
– Help with hiring/training sales reps/data entry
– Lifetime marketing and technical support at no cost
– Conference Calls
– and much more!
Join Patrick Phillips and Eric Ogea as they demonstrate why the time to start a new business is NOW and the business opportunity you should choose is American Business Systems! We’ll show you why American Business Systems is the best business opportunity in America!
More and more people are realizing that the only way to truly “make it” in business is to become a business owner and start something from the ground up. The only way to really enjoy what you do involves you being able to work your own hours and not having to answer to anyone but yourself!
What makes this country great is that ANYONE, regardless of race, creed, background etc. can succeed in America with the right support system in place like ABS! Just take a look at all of these successful licensees, many of whom have stated that we have literally changed their lives: Licensee Interviews on YouTubeOlder Articles »