Physician Burnout On The Rise
Added: (Fri Dec 28 2018)
Pressbox (Press Release) -
Many providers feel that outsourcing is an added expense. What they donít realize is that they will be saving money by spending money. According to a survey conducted by the Keystone Health Services, practices can save thousands of dollars in yearly benefits and salaries by outsourcing. For instance, if they are hiring a billing partner, there will be a steady flow of claims going in and cash coming out.
Running a profitable medical practice is becoming a challenge in the US healthcare industry. Pressure on physicians and practice staff is increasing as they are being asked to transform the way they have been delivering care. They are also under pressure to reduce costs and maintain quality. From having to navigate new payment structures to expanding collaboration and communication with other providers, there is a lot going that has resulted in a rise in physician burnout.
Due to the ever changing landscape of the medical industry, outsourcing has become a preferred option for many practices. Providers are hiring a third party to either cut costs or to focus on core business. According to a survey, more than 50% providers noted that outsourcing different services added a lot of value in business case development. Be it the medical billing process or IT management, outsourcing is helping many physicians reduce their workload and focus on what they do best- patient care. Outsourcing is also freeing up their staffís time to work on things they were hired for rather than taking diversions that donít pertain to their skill sets.
Outsourcing medical billing and other tasks to a reliable third party will not only boost their profit margins but also help them enhance their client and employee relationships. It will also help in reducing the in-house workload, making employees more productive and efficient.
It has become necessary for practices to take a hard look at their operations and try to understand how their staff is spending their time. In case outsourcing isnít a feasible option for a practice, some of the menial tasks being performed by physicians should be delegated to other team members. It is also recommended to bring in a compliance or waste management expert for effective solutions because not all practices are well schooled on development of policies and procedures.
As demands on physicians are increasing with no letup, outsourcing and streamlined operations have become the need of the hour.
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