Independent Physicians Going Broke

I was reading an article last night entitled 'Doctors Going Broke' on cnn.com about how independent physicians are struggling these days to make ends meet . Between higher costs for malpractice, higher drug costs, and declining reimbursements, the practices interviewed were in quite a bind. Perhaps you are like me, in that, as a member of the Medical Billing industry, I have learned to reign in my critiques at unintentional inaccuracies made by the reporter. This article by and large, was accurate. What really struck me though were the comments posted by the readers at the end of the piece. Disregarding the class warfare comments, it is striking to me not only how little people understand about the business of running a medical practice, but also the possibility that the complexity of the reimbursement process directly contributes to this.

It takes a real professional to fully grasp the impact of the many contracts with payers, their reimbursement methods, and the effect they have on a practice’s bottom line. That is where we come in. As HBMA members we need to not only serve our clients and help them make good decisions, and add value to everything we do, but also find a way to help the general public understand how our healthcare system operates. The better informed we all are, the better our decisions will be. What steps have you taken to engage your clients and the public on these important issues?