ABSTRACT
The demand for healthcare services is increasing more rapidly than the supply of providers, while reimbursement levels ignore the free market law of supply and demand. The regulated healthcare environment in the United States fails to increase prices (i.e., reimbursement rates) as demand outstrips supply. Healthcare practitioners must find alternative methods in order to continue providing excellent patient care while at the same time maintaining an economically viable practice. Practice consolidation with the assistance of private equity healthcare investment is an extremely attractive solution to this imbalance.
Subject(s)
Practice Management, Medical/organization & administration , Biomedical Technology , Government , Health Behavior , Humans , Investments , Physicians, Primary Care/supply & distribution , Practice Management, Medical/economics , Practice Management, Medical/legislation & jurisprudence , Private Practice/economics , Private Practice/legislation & jurisprudence , Private Practice/organization & administration , United StatesABSTRACT
Medical practices are under significant pressure to provide superior customer service in an environment of declining or flat reimbursement. The solution for many practices involves the integration of a variety of third-party technologies that conveniently interface with one's electronic practice management and medical records systems. Typically, the applications allow the practice to reduce the cost of each patient interaction. Drilling down to quantify the cost of each individual patient interaction helps to determine the practicality of implementation.
