Rising interest rates, lower valuations, and stricter regulations have disrupted potential deals, leaving many doctors frustrated. Physicians who left their private practices to join private equity-backed organizations often took pay cuts, expecting a financial boost from a secondary sale, but these transactions have been delayed. The increase in borrowing costs, combined with a stagnant IPO market, has made it harder […]
Artificial intelligence (AI) is revolutionizing healthcare, offering innovations that improve diagnosis accuracy, personalize treatment, and streamline operations. However, the growing integration of AI into medical practices introduces new ethical and legal challenges, particularly in obtaining informed consent from patients. Informed consent is a fundamental patient right that ensures individuals understand the risks, benefits, and alternatives associated with their medical treatment. […]
This newsletter aims to inform and empower medical office managers, administrators, and healthcare providers to take charge of their revenue cycle management processes, ultimately leading to more stable and profitable practices. In today’s complex healthcare landscape, efficient revenue cycle management (RCM) is critical to the financial health of medical offices. Whether you’re a small private practice or a large multi-specialty […]
Negotiating a provider contract with a health plan is a complex and crucial process that ensures both the provider and the insurance company reach a mutually beneficial agreement. This process affects both parties’ finances and directly impacts the quality of care that patients will receive. Here, we explore the best practices and strategies for successful negotiation. Preparation: The Key to […]
Value-Based Healthcare (VBHC) is a transformative approach that prioritizes patient outcomes relative to the cost of delivering healthcare. In recent years, its influence on the care of elderly patients has been particularly significant, fostering changes that promote better health outcomes while managing costs effectively. As the global population ages, understanding how VBHC impacts services for elderly patients is increasingly crucial. […]
A recent survey conducted by Athenahealth offers a glimpse into the prevalent issue of physician burnout, revealing that an overwhelming 93% of respondents, including a majority of primary care doctors, regularly grapple with burnout. Such findings highlight a concerning trend within the medical community, where the relentless demands of the profession take a heavy toll on practitioners’ well-being. More discouragingly, […]
In the realm of healthcare services, the issue of offering discounted fees to patients raises questions about legality and ethical considerations. Healthcare providers often provide discounts for various reasons, such as financial hardship, prompt payment, or special circumstances. While offering discounted fees can be a beneficial practice, there are legal considerations that providers must bear in mind. First and foremost, […]
Por décadas el ser parte del Colegio de Médicos-Cirujanos de Puerto Rico (CMCPR) ha sido parte de las credenciales médicas de los profesionales de salud de la isla al ser compulsorio para poder ejercer en el país. Luego de una exhaustiva lucha, oficialmente el Tribunal Supremo determinó la eliminación de la colegiación compulsoria al concluir que es inconstitucional obligar a […]
Artificial intelligence (AI) has brought significant advancements and benefits to the health industry. However, there are several risks associated with its use. Here are some of the risks of AI in the health industry: 1. Privacy and Security Concerns: The collection and analysis of vast amounts of patient data for AI applications raise concerns about data privacy and security. If […]
In a series of articles, we will present from our perspective and that of experts on the subject, the impact of artificial intelligence in the health industry. Starting with the impact in general terms, we face that artificial intelligence (AI) has revolutionized many aspects of our lives, and the healthcare industry is no exception. The ability of AI technologies […]
In the medical field, credentialing plays a crucial role in ensuring the competence and qualifications of healthcare professionals. Hospitals have a responsibility to carefully vet and credential their faculty members, as this process directly impacts patient safety and well-being. However, cases of negligent credentialing have raised concerns as they expose patients to potential harm and leave hospitals vulnerable to legal […]
Credemtia’s Compromise with Compliance CredeMtia is committed to having a strong compliance program not only to meet the healthcare industry requirements but also to seek the highest quality of services for our clients. During compliance week we remind ourselves and our clients of our commitment to compliance and the importance of the 7 elements and how it impacts our operation […]
In today’s healthcare landscape, patient no-shows have become a chronic issue that healthcare providers across the globe are grappling with. A patient no-show occurs when a patient fails to show up for a scheduled appointment without canceling or rescheduling in advance. This phenomenon not only impacts the well-being of patients but also strains healthcare systems and hampers the efficient delivery […]
Dealing with financial matters in healthcare can be complex and challenging, especially when it comes to collecting money from patients. As medical costs rise and insurance policies become more nuanced, healthcare providers must navigate this intricate landscape to ensure their organizations’ financial stability. In this article, we will explore some effective strategies for collecting money from patients, providing insights that […]
Let us embark on this journey to unravel the complexities of contracts and negotiation in the ever-evolving healthcare industry. Click to open the presentation: Health Plans Contracts & Negotiations
While the doctor-patient relationship is built on trust, respect, and open communication, there may come a time when it becomes necessary to part ways. It is essential to handle this transition with sensitivity and professionalism to ensure the well-being of all parties involved. The following are some tips to consider during the physician-patient relationship when it comes to its end. […]
One of the key factors in any successful contract negotiation is preparation. There’s no exception in the negotiation of a contract between a provider and a payer. It consists of determining the real objectives of the contract based on the knowledge of the party’s organization, the other party, and the marketplace. From the provider’s perspective, is important to analyze its […]
For more than a decade, physicians, nurses, and other front-line caregivers have been presenting burnout symptoms, forcing them to leave their jobs or start treatment. Today, burnout is defined as a long-term stress reaction marked by emotional exhaustion, depersonalization, and a lack of personal accomplishment. The industry estimates that there will be a 20 percent gap between the clinical workforce […]
What is the importance of keeping the physicians duly credentialed? Reduced risk: the experience and knowledge obtained by obtaining a credential can reduce the risk of a healthcare operation. On the other hand, as a competitive advantage, more physicians with validated credentials means a better reputation and guarantee of the quality of services. Recently, according to Beker’s Hospital Review, an […]
Telemedicine can be defined as the use of electronic technology to provide medical care when distance separates patient and provider. Telehealth can be defined as remote medical care that does not always involve clinical services. It allows providers to expand their reach and improve their efficiency. While maintaining high-quality medical care while providing patient safety.» Medicare began reimbursement for telemedicine […]
