Balancing Budget and Need for Updates: The Struggles of Keeping Physician Practices Alive

The world of healthcare embracing the digital world has been a very well celebrated move. This move has helped so many people in so many ways. It allowed people to stay at home and be safe during the pandemic. It allows people in rural areas to connect to specialists far away without all of the travel. And it has been a huge benefit to everyone with mobility issues. Knowing that they can get immediate access to their doctors without the physical toll it would usually take. But if everything is moving towards digital, where does that leave physician practices? How are they meant to survive if everyone is rushing towards virtual visits and telehealth? It’s like the old phrase says, in order to make an omelet, you have to break a few eggs. Are physician practices the eggs in order for us to have the delicious omelet of digital healthcare?  And can we break them in a way that we all benefit? We reached out to the Healthcare IT Today Community to get their insights on this topic. Read down below to see whether they think physician practices will survive, and if so, how. Dr. Christopher Crow, CEO and Co-Founder at Catalyst Health Group Practices will survive…but for them to thrive, the industry needs to shift how care is paid for. New technologies and integrated care teams will be essential for addressing issues like burnout, medication adherence and rising costs. And to implement all this effectively, we must shift away from our current fee-for-service structure that inc...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Ambulatory C-Suite Leadership Communication and Patient Experience Health IT Company Healthcare IT Amit Jayakar athenahealth Budgets CareCloud Catalyst Health Group Chad Anguilm Chris Baird Chris Larkin Colin Banas Concord Tech Source Type: blogs