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Top 5 Predictions for Private Practices at MGMA
AdvancedMD is predicting a bright future for healthcare, patients and independent physicians, including small practices, as health technology and policies evolve toward a patient-centric care model. At MGMA16, we’re looking forward to sharing our optimism and predictions – with the help of a psychic via our new telemedicine app, no less! We’re inviting conference attendees to stop by our booth #711 to learn what’s to come for your own future as well as for the future of healthcare and independent practice!
Here is a sneak peek into what’s in store for the private practice.
1. Technology will empower physicians to focus on getting patients healthy while enabling them to run healthy practices. When independent physicians in America obtain the same tools and capabilities that physicians have at large enterprise organizations – with an efficient workflow that brings the physician’s administrative tasks to a minimum while addressing the patient’s needs – they will thrive as businesses in a very complex healthcare ecosystem.
2. Workflow and wait times will improve as telemedicine visits become as common as office visits, with both patients and physicians becoming more satisfied. Patients will need to make fewer follow-up trips to the doctor’s office, and physicians will be able to see more patients with improved financial outcomes.
3. Innovation and competition will transform healthcare into a patient/consumer-centric industry, just as Amazon transformed retail, Uber transformed taxi service, and E-Trade – trading. High-deductible plans and rising healthcare costs drive patients to become more involved in their care as they are responsible for more and more of the bill. They will want to understand the quality of the physician, the availability of the physician, the cost of the procedure, etc. Patients will want tools to enable them to check in, book office and telemedicine appointments and pay bills online.
4. Technology will increasingly help physicians address compliance in the context of major healthcare evolution. Independent physicians spend a lot of time documenting care they provided as required by the constantly changing regulations. Successful tech vendors will keep abreast of regulatory changes and help physicians comply and streamline compliance routine so they can focus on patient care.
5. A strong community of independent providers will emerge that will balance out the power of large hospitals and health networks. Physicians do not learn in medical school how to best manage business aspects of running a practice and they lack resources of a large organization. Digital communities in many spheres of life provide forums for exchange of ideas and experiences, and independent physicians can benefit from a place where they can directly connect with peers on practice management issues.
Want to know what the future holds for you personally? Come by our booth #711 and find out! If you don’t attend MGMA, follow us on @advancedmd to learn about what’s in store in 2017 for independent practices and the healthcare industry!