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Hospital-Acquired Medical Practices: Buyer Beware? Print E-mail
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Tuesday, 25 June 2013 00:00

An article in Futurescan 2012: Healthcare Trends and Implications 2012-2017 outlines the huge shift in favor of hospital-owned medical practices. Those of us who've been around the block a time or two can't shake the déjà vu of the 1990s or the disastrous outcome. This time, though, the outcome of a medical practice acquisition plan can be different as hospital systems vow to heed Santayana's adage, "Those who cannot remember the past are condemned to repeat it."

Some big factors in favor of a positive medical practice purchase experience include: the healthcare landscape looks almost nothing like it did in the '90s; physicians appear less resistant to hospital employment, perhaps due, in large part, to demographic factors; the market is open to novel compensation programs such as pay for performance/outcomes; and hospital management teams are adapting to the new normal by including physicians and embracing technology specific to the physician practice realm.

However, no different than undertaking any investment, knowledge is power, and it helps to know what you're getting into. A successful medical practice acquisition plan must include a thorough assessment of the 'acquiree' before the deal is done - in fact, before the deal progresses much past the early stages. 

Business metrics can vary widely and be completely unrelated to the technical proficiency or clinical quality of the physician and his or her patient care.

Some medical practices are well-oiled machines and the owner's motivation for acquisition is a win-win; the transition is smooth and the result is a high-performing practice that causes no headaches for its parent organization. At the other end of the spectrum are...

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Lakeland Based Group Practice Merges with Regional Health System Print E-mail
Written by Jeffrey Herschler   
Tuesday, 25 June 2013 00:00

Clark & Daughtrey Medical Group comes to its merger with Lakeland Regional Health Systems as a well-endowed partner.  By the end of summer, nine more doctors and another nurse practitioner will join the clinic. There currently are 45 doctors and 17 nurse practitioners on its staff.  "That's a very aggressive increase," said Adil Khan, chief administrative officer for the group, calling it the biggest number brought on board in such a short time.  A larger walk-in clinic and family practice office, which could someday include pediatrics, is being established on the north side of Lakeland.

With those signs of strength, why did the 34 doctor-shareholders eligible to vote unanimously endorse the merger that becomes official July 1?

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Credit Card on File: A Simple Way to Enhance Medical Practice Cash Flow Print E-mail
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Sunday, 09 June 2013 00:00

At Manage My Practice, we are big proponents of the credit card on file system as a road to financial viability. This program changes your patient collections from a back-end collection program to a front-end collection program, effectively collecting 95% of the patient responsibility within 45 days of the service.

In a credit card on file (we abbreviate it "CCOF") program, the patient's credit card information is securely stored off-site so that co-pays, co-insurance, deductibles, non-covered services, and balances after insurance has paid can be charged to the card automatically.

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Five best practices for training staff on EHR Print E-mail
Written by The Profitable Practice   
Thursday, 30 May 2013 00:00

It's not uncommon for electronic health record (EHR) implementation to be met with some resistance. After all, transitioning from a paper-based environment to one reliant on an electronic system can be daunting for physicians, nurses and other staff. Converting to an EHR doesn't have to be something a practice dreads, however. With proper training, staff can learn even the most complicated systems.

Training isn't just helpful-research has shown that it's essential to the implementation process. It can help practices avoid setbacks, errors, employee turnover and other general frustrations while facilitating a smooth transition from paper to an electronic system. Without it, meaningful use of EHR technology simply isn't possible.

Here, we've put together five effective EHR training tips to get staff in your practice adequately trained and comfortable on a new system...
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Last Updated on Friday, 31 May 2013 08:01
Updated lung cancer guidelines Print E-mail
Thursday, 16 May 2013 00:00

Lung cancer causes more deaths in the United States, 160,000 estimated in 2012, than the next three most common cancers, colon, breast, and prostate, combined.

More than 1.6 million people worldwide were newly diagnosed with lung cancer, comprising 13% of all new cancer diagnoses, and 1.4 million died of lung cancer, which was 18% of all cancer deaths in 2008.

The American College of Chest Physicians released the Diagnosis and Management of Lung Cancer, 3rd ed: ACCP Evidence-Based Clinical Practice Guidelines on Tuesday (May 7). The guidelines represent the culmination of a multiyear rigorous process involving over 100 multidisciplinary experts in the fields of pulmonology, critical care, thoracic surgery, medical and radiation oncology, pathology, integrative medicine, primary care, health-care research, guidelines methodology, and epidemiology. The ACCP guidelines summarize the state of the art in lung cancer in 24 chapters and 278 recommendations, covering the entire scope of the field.

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Source: KevinMD
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