Medical billing to assist Primary Care Physicians in streamlining their practice
The lack of primary care providers in the country is a topic which has been hotly debated among many circles and written about vehemently. Not many medical students are ready to enter primary care due to lack of great financial prospects in the future. This is resulting in even more shortage of physicians and problems when it comes to the reputation of this line of medicine. The remuneration problems along with other difficulties faced by Primary Care Providers (PCPs) is affecting the revenue of PCPs and bringing a disparity between other physicians who practice other specialties of medicine. Here are numerous reasons for the reimbursement disparities for PCPs and some possible solutions for countering this problem.
One of the reasons for the lesser amount of remuneration for PCPs is that specialists who perform routine procedures such as some specific types of surgeries take lesser amount of time to complete their task compared to a PCP whose case can be of any nature. Another explanation for the comparatively lesser amount of pay of PCPs are that the majority of these are either solo practitioners or work in a small group whereas specialists like surgeons and cardiologists have a chance to work in a big hospital with even bigger pecuniary benefits.
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There are many problems that are synonymous with the problems of PCPs and of those faced by solo practices. The burden of supervising all the functions of a small practice along with carrying out the core aspects of medicine is also a hurdle that hampers efficient time and financial management. Moreover, the Medicare rates given to PCPs are causing resentment among PCPs where a group of people have a filed a suit against Medicare regarding their low reimbursement rates to PCPs. Medicare cuts are another problem faced by especially PCPs since they are responsible for treating a large number of elderly patients and act as an entry point for specialties if any particular problem is diagnosed, which is usually a possibility in elderly patients.
The health reforms have provided a glimmer of hope for PCPs due to many policies that have been implemented. However, compliance of these policies is also a challenge that is faced by physicians and providers along with PCPs. The incentives provided by the government for the implementation of EMR and EHR systems can be a definite financial advantage, especially for PCPs. However streamlining all the departmental process to implement this cutting edge technology is perhaps the most important prerequisite for qualifying for the incentives through ‘Meaningful Use’.
PCPs can take advantage of companies that provide assistance in the latest departmental processes required for maximizing the revenue and improving the quality of care. Medicalbillersandcoders.com is one such company that streamlines all your processes such as revenue cycle management, denial management and, of course, also performs medical billing and coding. We also provide other value added services such as consultancy and research.