Stagnation of Physician Pay
Physicians are up against changing payment models to make their lives even more difficult and complex.
In the Wall Street Journal Physician Pay Stagnant, New Revenue Models Expanding article published New Year’s Eve, it was stated that physician pay in 2013 was stagnant and predicted to decrease. Fee for service payments will continue to decrease. Repeat visits were flat but new visits were significantly devalued financially. The ability to qualify for higher coding reimbursement has been reduced.
Physicians are up against a rapidly changing landscape, where one has to appreciate the changes. The provider must reevaluate their business model and possibly make significant changes. Inertia is difficult to overcome, but this new capitated system based on quality measures and outcomes will have to be adapted to.
Xpress Technologies has a long-standing history of helping its clients to buck trends that may inadvertently reduce income to a practice. While others in the region barely “made-it,” some having to close doors or discontinue partnerships, those with Xpress have always had an almost uncanny endurance. Being able to meet local and national requirements, while simultaneously not ignoring the bottom line, requires consistent and trustworthy thoughtfulness at many levels. Quality of care, safety of patients, and staff well-being are at stake.
Would you, for example, choose to go to a previously fine restaurant, having learned that the circumstances of operation had caused it to cut back on quality of food, level of service, and safety measures in the kitchen? Certainly not! It is a good comparison, because patients do, indeed, want to know they are getting the best care available. Thus, the strength of reimbursement received by any clinic or site heavily impacts the quality of care delivered. Throughout its 35-year history, Xpress clients have been firmly supported, and thus have been able to sustain practical business models that enable stabile, high-quality medical practice on a day-to-day-basis.
Xpress Technologies Electronic Health Record with its ability to capture data points, create complex reports, and provide the foundation for making the upcoming changes. The Practice Management System is designed to allow day to day analysis of the revenue cycle. With the need to capture all streams of income in a timely manner, Xpress Technologies will work closely with you to turn adversity into advantage.
