Physicians Across the Country are Working Harder Than Ever AND GOING BROKE DOING IT 300x300 | Physicians are Working Hard and Going Broke | STATMedCare Payor and Physician Enrollment and CredentialingPhysicians across the country are working harder than ever, AND GOING BROKE DOING IT!

Are you one of America’s dedicated physicians who works day in and day out to ensure the well-being of your patients?

Are you breaking your back to keep up, and going broke doing it?

According to The American Medical Association, doctors are working harder and earning less.  So much of what physicians’ face in their budgetary shortfalls is directly related to the reimbursements they receive from major insurance companies.  When the government issued a sequester in 2012, all Medicare physicians received a 2% pay cut.  Now physicians who have not been able to meet the mandated Meaningful Use requirements face an additional 2-4% pay cut.  All of this piled onto declining contractual insurance reimbursement rates has led some physicians to see so many patients to make ends meet that they are no longer capable of really providing the excellent care and oversight that their patients deserve.

Are you ready to take charge of your practice?  

Are you ready to turn your bottom line green again?

So what options do you really have?

ACO Option

Opting into an Accountable Care Organization could yield you better insurance reimbursement to help your practice thrive.  If you don’t know if you have an ACO in your area try contacting the physician liaison at any hospital you are credentialed with. The physician liaison will be able to help you with enrollment and requirements for ACO membership.

Fee Renegotiation

When was the last time you were given a raise? I can almost certainly say it’s probably been a while.  Not pursuing a raise in your contracted fee schedules – from your contracted payors – is detrimental to your practice’s bottom line.  Seek out a professional to help you navigate requesting an increase in your fee schedule.  As always, look for a company who specializes in this type of work and can provide physician references that are current.

 

For more helpful tips and tools please:

Cynthia Young, the CEO of STAT, which is a U.S.-based, national provider of credentialing, payor enrollment, rate negotiation, and other credentialing related services.