Physicians Apprehensive of Retiring Early: Recourse to Feasible Medical Practice
There seems to be no respite for physicians, who are already reeling under immense pressure from radical healthcare reforms introduced by the Federal Government. Faced with prospect of unsafe retirement life in the face of continuously receding economy, physicians – who earlier had planned retirement in 5-6 years – are actively reconsidering such plans. The recent survey by the physician recruitment firm, Jackson & Coker – has found 52 percent (of the total 522 physicians interviewed) to have deviated from their original stand of going in for an early retirement. Attributing their rethinking to adverse factors — devalued assets, the continued economic uncertainty, governmental cutbacks on healthcare spending, and a general lack of confidence – the survey has been able to delve deeply into physicians’ alternative course of action.
The survey goes on to highlight the growing level of dissatisfaction with governmental healthcare policies, amidst which physicians would find it difficult to sustain a feasible medical practice. Foreseeing an adverse future, many physicians are contemplating:
- Working part time or locum tenens,
- Intensifying their present practice further
- Switching position in the same field
- Deviating to a new thing altogether
Therefore, it is timely that such an exodus be mitigated in the larger interest of the healthcare-needy population, which is growing at an alarming rate already. And with an impending population of senior citizens eagerly waiting to be inducted into Medicare, the situation is going to get worse. Since the Federal Government has made it clear that there is no going back on reforms, physicians have the added responsibility of finding recourse somehow.
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While the reasons for such drastic measures are profound, physicians – who are justified in their instant reaction to impending problems – need an extra degree of caution prior to arriving at any decision for which they would repent later. Having been physicians all through their lives, it is advisable that they continue doing what they know best. And as far as addressing governmental healthcare impositions is concerned, there is always recourse to engage competent professionals who can ensure sustainable practice through:
- Setting Up Electronic Medical Recording Compliance (EMR) for Incentive Eligibility
- Advising on feasible composition for Accountable Care Organization (ACO)
- Efficient Management of Medical Billing Reimbursement
- Proactive measures for cost-effective implementation of ensuing ICD-10 and HIPAA 5010 Compliant System of Health Recording
- Owing and executing all compliance and administration functions that would relieve physicians off an undesirable burden, and concentrate on their core-concern (medical efficiency) for sustenance and growth.
Physicians re-considering moving to part time practice require effective administrative support to optimize the part time investment of time and effort in delivering quality healthcare. Expert support on reimbursement and appointment scheduling can help physicians have a profitable part time practice as well.
Physicians looking to “Intensifying their present practice” need to manage their practices more efficiently by focusing on the healthcare as their core service and relying on reimbursement experts to enhance revenue in a growing practice. Expert Medical Billing professionals can facilitate the initial return on investment strategy better.
Medicalbillersandcoders.com, with a long-standing credibility for owning and executing their clients’ compliance and administration functions in congruence with the prevailing standards, can prove to be an ideal ally in such a scenario. Armed with extensive multispecialty experience and expertise in billing and coding and healthcare IT-related services, MBCis well equipped to extend professional support to healthcare providers by optimizing their existing practice.
The largest consortium for professional billers and coders for healthcare providers in the US, MBC offer consultancy services across all states of US, for the implementation of their strategic, operational, and financial purposes, no matter the size of their organization.
Medicalbillersandcoders.com is the largest consortium of Medical Billers and Coders in the United States. We offer Medical Billing, Denver Medical Billing, Nashville Medical Billing, and Washington Medical Billing.
- Posted in: Medical