HSA 546 Week 11 Discussion Putcting it into practice
Week 11 Discussion HSA 546: Physician’s Practice Management: “Putting it into practice” Please respond to the following:
Specify two (2) concepts learned from Physician’s Practice Management that you think would be the most important for the success of a physician practice. Support your rationale.
The Knowledge I have learned in Physician’s Practice Management have been very informative with great important information for employment in a health care industry. There was so much information that was covered for example, Best Practices (i.e. Quality of Care Managing the revenue cycle) (i.e. Billing, Credit and Collections, and Insurance) is an important function for the effective medical group. This is an extremely influential procedure that is continuously changing because of revisions in billing necessities by payers and as information technology continues to improve. The necessity for detailed data on quality of care and result measurements is one outcome of restructuring of the US health care system and the evolution of managed care health delivery systems. One of the most dynamic areas of the physician practice has been, and continues to be, the electronic patient record. Like any good business, health care needs quality administrators to maintain a smoothly running industry. Each operation needs someone to track trends in an ever-changing organization and to maintain the organization on the cutting edge.
The successful delivery of healthcare to patients and the community hinges on efficacy practice management systems that handles the requirements of patients, community, and health providers in a balanced, receptive and cost effective means.
In your opinion, determine the most What is challenging aspect of a physician’s role as the administrator of a group practice? Justify your response.
The greatest challenging aspects as administrator with group practice would be financing Administration, now known as the Centers for Medicare and Medicaid Services, which considered a general compensation structure (like the price of an office visit) and then aspects in the variables such as practices continue to face increasing reimbursement pressures and malpractice costs. One of the more frustrating aspects of continued medical practice independence are the payor-related policies, procedures, and decreased reimbursement related with the changing types and forms of third party payor plans. A doctor not performing responsibilities develops financial pressures on the group practice which is one of the main reasons of why doctors leave independent practices. Additional challenges administrator face is a multitude of external, internal leadership factors, along with challenges demanding administrator involve those associated to growth strategies, including identification of areas for possible plan decreasing or omission. Operational affiliates try to meet the aspects of today’s conditions, a clear strategic direction is vital. This signify another crucial internal challenge, and it is frequently this planning procedure that simplify required position within group practices.
Wolper, L. F. (2013). Physician Practice Management (2nd ed.). Burlington, MA: Jones & Bartlett Learning