Doctors Weigh Whether Working Collectively Will Bring in More Revenue
WILMINGTON, Delaware, July 10, 2014 /PRNewswire/ –
Doctors across the US are facing three major changes this year – full integration of
EHR, changes in the healthcare payment models and shift from private practices to medical
networks. More and more doctors are moving into large practices or practices owned by
large hospitals and medical groups. A trend of three to five doctors working together in a
group has gained popularity in the US as it is helping them to attend more patients, offer
quality care and improve their administration process.
Benefits of Joining a Large Physician Group
Financial security is one of the main advantages of working collectively and that is
why majority of the doctors are opting to work in a larger group. By joining a large
hospital system or a group, doctors have been able to streamline back-office functions
like insurance negotiations and medical billing. According to the industry experts, few
years down the line it will be difficult to find a practice that is not affiliated with a
How are Physician Groups Handling Billing?
Many physician groups across the US are finding it cost effective to outsource their
billing needs to professional billing companies. This has helped them save money on
billing practices and technology that is changing frequently. If they spend on expensive
practice management software they also need to upgrade their systems, hire new staff or
train existing staff to use the software. This entire process is not only costly, but also
eats up valuable time due to which outsourcing seems to be a practical solution.
What is causing this Change?
This shift is the result of changes in the value-based healthcare models. It has
become essential for providers to demonstrate that their services are resulting in better
healthcare for patients. Failure to meet healthcare standards can result in severely
reduced Medicare and Medicaid payments.
Physicians are looking for high income and ways to handle administrative challenges
that come with private practices. Doctors are not being paid well and the existing payment
pattern has warped the way medicine is practiced in the country. It has devalued vital
services like doctor-patient discussions.
Losing Autonomy – Is it worth it?
Joining a larger group has various benefits, but physicians are losing autonomy by
making the shift because decisions are made through a group process. Many doctors don’t
want to become employed, they want to remain independent. There are various organizations
in the US that are helping doctors maintain their autonomy while gaining the benefits of
being in a group. Many doctors are still running their private practices and letting the
group handle their billing.
MedicalBillersandCoders.com is one such trusted medical billing outsourcing partners
that brings together hundreds of certified coders and billers, experienced in different
specialties on the same platform. The dedicated, pro-active team is well-trained in HIPAA,
ICD-10 and other compliances. It has the largest team of skilled coders and billers,
helping physician groups across the US maximize revenue. The experienced team at MBC frees
up large groups of doctors from the burden of billing, coding and denial management. This
allows them to focus their time on enhancing quality of care and meet value-based
MBC is the largest consortium of billers and coders across US. (California Medical
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Prerna Gupta, Media Relations
108 West, 13th street,
Wilmington, DE 19801
Medical Billing Blog [http://www.medicalbillersandcoders.com/blog ]