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Can Telehealth Help Small Medical Practices Survive the Coronavirus?

Mon, 01 Jun 2020 17:27:02 GMT

A recent survey finds that independent medical practices are turning to telehealth to keep going during the Coronavirus pandemic, but will they have a strategy in place to stay afloat when the emergency ends?

Independent medical practices are turning to telehealth in record numbers to tackle the Coronavirus pandemic, and many may need connected health to stay afloat once the emergency passes. A recent survey of more than 600 healthcare providers conducted in May found that 41 percent were using telemedicine technology by their insurance carrier, up from 22 percent reported in a 2019 survey, and another 34 percent were in the process of deploying virtual care services.

At the same time, the pandemic had prompted some 28 percent of the practices surveyed to offer only telehealth visits, and another 9 percent had closed their doors altogether. A separate analysis of patient traffic at more than 50,000 sites, meanwhile, saw a roughly 35 percent decline in patient volume. As the nation struggles to deal with a global emergency, small and independent providers are facing challenges staying afloat. With stay-at-home orders and essential travel mandates now the rule rather than the exception, these providers aren’t seeing the traffic they need and they don’t have the deep pockets of large hospitals and health systems to weather the downturn.

Ironically, that same shortage of resources has kept small and independent medical practices from investing in telehealth, with the fear that the expenses won’t match the returns, at least as long as federal and state telehealth guidelines are fluid and reimbursement is spotty. With the passage of the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act in late March – along with several other state and federal emergency actions – healthcare providers have more leeway to use telehealth and more opportunities to be reimbursed for it.

Independent medical practices stand as the cornerstone of the US healthcare system and are responsible for more than two-thirds of annual patient visits, yet research shows that even doctors are not immune to the economic impact of the coronavirus pandemic. Telemedicine and the CARES Act provide critical lifelines to ensure independent practices remain available to their patients through this crisis. In addition, surveys are finding that the pandemic is giving consumers a new attitude toward telehealth as an alternative to in-person care. The challenge for independent medical practices lies in using telehealth now, getting used to the technology, tracking outcomes and ROI, and then hoping the momentum continues when the emergency is over and the emergency actions end.

The Future of Independent Integrative Medical Practices.

Wed, 01 Apr 2020 17:27:02 GMT

The Future of Independent Integrative Medical Practices.

Safeguarding your independence in providing integrative care to your patients

Just as freedom isn’t free, independence isn’t always easy. The healthcare economy continues to push physicians toward employment with large practices and comprehensive health systems. For those who value the independent practice of medicine, the pressure is on especially in the integrative care space. Yes, you can buck this trend—but it requires forethought and planning. There’s a price for control of your professional destiny—taking responsibility for your practice’s financial future.
Learn more about ObtainHealth , and the small practice telehealth solution it provides.

Increasing regulation and declining reimbursement
The hard truth—the independent practice of medicine is declining, while employment is becoming a more common path for physicians. Know what you’re up against:
6% decrease in physicians with ownership stakes in medical practice from 2012 to 2016
5% increase in patient care physicians with employed positions from 2012 to 2016
5,000 independent physician practices acquired by hospitals between 2015 and 2016

For physicians who want to remain independent, it’s not just a matter of statistics; this challenge is reflected in the routine of each workday. As government regulation increases and reimbursement decreases, running a practice profitably requires more effort.
The shift to value-based reimbursement poses a major concern. Independent practices may struggle with strict, burdensome, and ever-changing federal regulations. They may lack the infrastructure needed to collect, manage, and report data.

The psychological price of bureaucracy

In addition, financial challenges are compounded by stress from excessive time spent on uncompensated, non-clinical tasks.

Consider that:

49.2% of a doctor’s office day is spent on EHRs and desk work.

70% of physicians say that too much paperwork and bureaucracy are the top factors contributing to their stress.
$50,000 in revenue is lost annually per physician on average because of busywork.

Intervening to help patients achieve their optimal health can be stressful; however, it fuels one’s sense of purpose. Stress from excessive paperwork can seem meaningless, and coping with it can be challenging.

Don’t go it alone

Carefully chosen partners—experts in business and technology who can help you run your business as efficiently and effectively—are now an absolute necessity. The trusted advisors you select to surround your practice are your protection and support for maintaining independence. The right professional and telehealth support can help you establish workflows, policies, and procedures that set you up for success. To continue to thrive in this complex sector of the economy, consider the value of expert consultation. It can help in identifying emerging trends and choosing the appropriate technology-based solutions like Obtainhealth telehealth in response.

For example:

Healthcare is now a competitive marketplace—efficiency is everything. The right telehealth platform for your practice can point you toward a that incorporates processes and workflows to maximize efficiency.
Patients are now in the driver’s seat—solutions are available to help improve the patient experience. Telemedicine capabilities create opportunities to increase practice revenue. Tools that facilitate listing your practice on online directories and medical review sites can strengthen your marketing efforts.
You need help coping with the regulatory weight on your practice—standardized and customized reporting solutions can free up your time for patient care.

The irony of contemporary integrative medical practice is this: if you want to remain independent, don’t do it alone. ObtainHealth is the leading provider of telehealth for integrative medicine, patients seeing integrative care know about it, make sure you are found as one of their integrative care options.

Patients embracing the growing trend of connecting with their doctor virtually.

Sun, 01 Mar 2020 18:27:02 GMT

The new season is a great reason to make and keep resolutions. Whether it’s eating right or cleaning out the garage, here are some tips for making and keeping resolutions.

Make a list

Lists are great ways to stay on track. Write down some big things you want to accomplish and some smaller things, too.

Check the list regularly

Don’t forget to check in and see how you’re doing. Just because you don’t achieve the big goals right away doesn’t mean you’re not making progress.

Reward yourself

When you succeed in achieving a goal, be it a big one or a small one, make sure to pat yourself on the back.

Think positively

Positive thinking is a major factor in success. So instead of mulling over things that didn’t go quite right, remind yourself of things that did.