Thriving as an Independent Practice
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Transcript of Thriving as an Independent Practice
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Thriving as an Independent
PracticeS. Craig Tidwell, M.D.
Associates in Obstetrics and Gynecology, PC
This event is live as of XY
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Survey of the Epocrates user base. February 2015.
Answered: 2,144 Skipped: 642
I would prefer to be employed by
a larger group
58.14%
Given the opportunity, doctors want to stay independent
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20.10%
11.75%
I would prefer to practice
independently
I am not
sure
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Source: Bureau of Labor Statistics; NCHS; and Himmelstein/Woolhandler analysis of CPS
3500%
3000%
2500%
2000%
1500%
1000%
500%
0%1970 1975 1980 1985 1990 1995 200 2005 2009
Physicians
Administrators
Growth of Physicians and Administrators 1970-2009
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Clinical Transformation: New Business Models for a New Era in Healthcare. Accenture, 2012. http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture-Clinical-Transformation-New-Business-Models-for-a-New-Era-in-Healthcare.pdf#zoom=50
Business Costs & Expenses
Prevalence of Managed Care
EMR Requirements
Maintaining/Managing Staff
Number of Patients Required to Break Even
87%
61%
53%
39%
53%
Top Concerns That Influence Decision to Seek Employment
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Source: athenahealth’s addressable market (physicians) based on athenahealth analysis using SK&A, HIMSS, and self-collected data
% Employed Physicians 800
700
600
500
400
300
200
100
-2011 2012 2013 2014
650K 676K 684K 692K
44% 50% 57% 57%
56% 50% 43% 43%
EmployedIndependent
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First signs that physician consolidation has leveled off
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Care is moving out of the hospital while outpatient visits continue to rise
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35
30
25
20
15
10
5
0
-5
-10
-15
-20
v vv v v
v
vv
vv
vv 33%
-17%
Outpatient services per FFS Part B beneficiary
Inpatient discharges per FFS Part A beneficiary
v
v
v
v
Fiscal year
Cum
ulat
ive
perc
ent c
hang
e
vv
20062007
20082009
20102011
2012 2013
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Independent providers see
16% morepatientsthan employed providers
Independent practices see5.9% fewerno-showsthan owned practices
5.9%
Source: athenahealth Data, 2015
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Patients wait
4 days longerto see an employed PCP than an independent PCP
Source: athenahealth Data, 2015
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What’s the Solution?
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Obstetrics & Gynecology 6 physicians 6 certified nurse
midwives 32 staff members 1 office in Dalton, GA 510 patient visits per
month/doc 3,074 patient visits per
month/practice On the network since
2012
Associates in Obstetrics and Gynecology
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Before athenahealth
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Needed an EHR to stay current and achieve Meaningful Use
Dealing with self-pay problems & collection issues
Challenges with managing billing department
Wanted better outreach and communication
Before athenahealth
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Hunting for charts
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On-Boarding
“With the assistance of training modules, templates, and project managers, the implementation was much
easier than we thought.”
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athenahealth Solutions
1 athenaClinicals
athenaCollector2
athenaCommunicator3
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Click here!
Meaningful Use
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Flexibility in the Cloud
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www.aogdalton.com
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Measurable Practice Results
1.1 charge entry lag days
96.3% same day encounter close rate
3.4 minutes Provider documentation time:
36 days days in Accounts Receivable
$160,000 in Meaningful Use incentives22
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Increased Visibility and Management Control Reports – Capture and Track Key Metrics Claims
First Pass Resolved Rate = 93.3 % Easy Submission Less Work Rules Engine
Positive Impact on Accounts Receivable: 10.97% decrease in Days in Accounts Receivable
Efficiency of the front office Staffing Improvements Practice Growth
athenaCollector – 2012
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Access anywhere, anytime Document encounters more efficiently Spending more time with patients Integrated care capabilities Easy workflow Coordinating patients’ care
Exporting chartsEasy to read, relevant information, minimal records
athenaClinicals – 2012
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Improve staff efficiency Call backs by Athena Group Call options:
ReminderCall GroupCall ResultsCall
Improved communication & Scheduling Patient visits increased 2.93% No show rate decreased 16.2% Participation in their medical care
Patient Portal - 24/7 Access
Patient Satisfaction
athenaCommunicator – 2012
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Unmeasurable Results
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After athenahealth
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Work/Life Balance
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Thank YouS. Craig Tidwell, M.D.