Administrative burdens are taking the joy out of practicing medicine. Based on a RAND study that explored premature burnout, incoming AMA president Steven J. Stack, MD recently confirmed what many doctors have known for years. Overwhelming regulatory burdens are cutting into time formerly spent interacting with patients, reducing job satisfaction, straining tight budgets to near breaking points, and triggering earlier retirement. Stack said, “A healthier, happier nation (needs) a healthier, happier physician workforce.”

Now more than ever before, specialty practice administrators must think critically about balancing clinical and administrative skills with patient outcome goals and experiences.

It should go without saying that Revenue Cycle Management (RCM) Services streamline claims processing and support financial stability. But, many specialty providers still don’t fully grasp the significant role that RCM plays in patient engagement and brand confidence building.

There are numerous benefits for providers and patients woven into Electronic Health Record (EHR) software. Not least among the advantages for physicians and ancillary organizations is improved coding for decision-making and financial resource management.

The following excerpt is from our recent whitepaper, "5 Predictions for ICD-10 & How You Should React." By now, it has to be assumed that all medical organizations and practices have paid heed to the transition from ICD-9 to ICD-10. It’s an understatement to say that anyone unprepared for ICD-10 at this point will need to hit the ground running to catch up.

When utilized and maintained properly, behavioral and mental health electronic medical records (EMR) strengthen patient-doctor relationships and support clinical and care-related activities. Centralizing all relevant data in a secure, paper-less environment enables quality of care management, outcomes reporting and decision support.

According to United States Census Bureau data, there are more than 691,000 thousand physicians and surgeons practicing medicine in the US. Many of these healthcare providers work in private practices and clinics, often with administrative support staff and other healthcare personnel.

Over the past two decades, revenue cycle solutions have evolved from a traditional back-office challenge to a major focus throughout the organization. Every individual in the medical practice from the C-suite to the exam room is expected to keep a critical eye on the revenue stream.

A 2012 survey published by Oracle revealed hospitals lose an average of 15%, roughly $72 million dollars, of additional revenue for each year because they fail to exploit collected information. Almost two-thirds, 63%, of polled respondents recognized the need to translate data into actionable insight, but felt overwhelmed by the volume of information.

Forty percent of healthcare management professionals surveyed by Oracle reported their current systems couldn’t meet specific industry requirements. RCM services that leverage financial, clinical, and other related data generate valuable opportunities to improve workflow patterns.