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How To Adopt A New Plan For Your Doctor’s Practice To Earn More And Pay Less

How To Adopt A New Plan For Your Doctor’s Practice To Earn More And Pay Less

The way healthcare is situated today, doctors spend a lot of money to get their degrees but end up not making enough. Many doctors are leaving their practices because they can’t afford to sustain an income. But, innovative people are offering a new business model that can change this dynamic and allow doctors to make more money while spending less. Primary care physicians have to ensure they have the necessary volume of patients to cover their costs.

Doctors have many restrictions on their earnings. For example, insurance companies will pay for only so much. Many patients are being provided reduced or free healthcare, courtesy of the state or federal government. They have to hire employees who understand nursing, medical terminology, and billing. These employees don’t come cheap. Often, primary care physicians see their patients once a year. Equipment is expensive to buy and maintain. Overhead costs can be high. Because of these financial restraints, many doctors are leaving their practice because they can’t afford to sustain an income.

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But, innovative people are offering a new business model that can change this dynamic and allow doctors to make more money while spending less. The business model involves grouping services in an area to spread out the costs of equipment, human resources, billing, and overhead.

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What are the problems?

  1. Being a primary care physician is stressful. Doctors have to ensure they treat the right number of patients to generate an income. They also have to oversee the clinical staff and  business operations. They are required to stay current on changing regulations. They have to deal with clinical challenges and human resource issues. Doctors also have to pay attention to insurance companies and their requirements, which are often listed in small print.
  2. A significant number of patients fall under state or federal programs. These federal and state programs are complex and confusing. Figuring out payment structures is daunting, and doctors face severe consequences if mistakes happen.
  3. Insurance company rules are problematic. A patient must have insurance approval prior to treatment. Co-pays must be verified and collected. Forms and patient charting must be filled out accurately and have to match exactly with the selected diagnosis codes.
  4. Keeping records is a headache. Records must be entered into the Electronic Medical Record precisely and without errors. Many other items in the Revenue Cycle process have to be done correctly and timely. If anything is not done exactly as required or in a timely manner, the physician will not get compensated. The days of sending a bill and getting paid are long gone.
  5. Missing financial reports cause problems. To run a practice efficiently, physicians need the proper financial reports and tools. These include monthly income statements, balance sheets, A/R reports, monthly benchmarking reports, efficiency reports, and staffing reports. Practices are suffering because the reports aren’t being used or generated regularly.
  6. Doctors work too hard to sustain income. Physicians believe they have to work harder to maintain their incomes, but they really need to be more efficient in how they work.

What are the solutions?

  1. Coming together in groups. With groups, standards of care are developed; they share resources for IT; they share a business office; they share accounting; they share insurance contract negotiations;  benchmarking data is used; and human resources and payroll issues are shared.
  2. Add other services under one roof. Doctors get a large financial advantage when they include urgent care, imaging facilities, laboratories, X-ray units, and pharmacies in their practice. These services add profits because they cost less than having them done at hospitals.
  3. Adding services makes the practice more efficiently run. If you could put 10 primary care doctors in one center, instead of two each in five offices, you would have a very efficient, state-of-the-art, patient-centered operation.
  4. Outsource services. Practices become more efficient when they outsource accounting, human resources, and billing. You also can turn to Doctors CPR to find the right employees to make your business more efficiently run.

Doctors can adopt this new business model. It will help them reduce expenses, which will, in turn, let them keep more of what they earn. Partnering with others in related fields has helped many other industries. They have adapted to a world that works best by collaborating with others. Because so many things are online, collaboration on problems is becoming the normal way of doing business. Now, it is going to help primary care physicians.

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Featured photo credit: Seattle Municipal Archives via flickr.com

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Last Updated on December 10, 2019

How to Stay Motivated and Reach Your Big Goals in Life

How to Stay Motivated and Reach Your Big Goals in Life

It is hardly a secret that the key to successfully accomplishing one goal after another is staying motivated. There are, of course, tasks which successful people may not like at all, yet they find motivation to complete them because they recognize how each particular task serves a greater goal.

So how to stay motivated most of the time? Here are 5 simple yet effective ways on how to stay motivated and get what you want:

1. Find Your Good Reasons

Anything you do, no matter how simple, has a number of good reasons behind it.

You may not be able to find good reasons to do some tasks at first but, if you take just a few moments to analyze them, you will easily spot something good. We also have many tasks which don’t need any reasoning at all – we’ve been doing them for so long that they feel natural.

If you’re ever stuck with some tasks you hate and there seems to be no motivation to complete it whatsoever, here’s what you need to do: find your good reasons.

Even when you set goals, there needs to be reasons behind these goals. They may not be obvious, but stay at it until you see some, as this will bring your motivation back and will help you finish the task.

Some ideas for what a good reason can be:

  • A material reward – quite often, you will get paid for doing something you normally don’t like doing at all.
  • Personal gain – you will learn something new or will perhaps improve yourself in a certain way.
  • A feeling of accomplishment – at least you’ll be able to walk away feeling great about finding the motivation and courage to complete such a tedious task.
  • A step closer to your bigger goal – even the biggest accomplishments in history have started small and relied on simple and far less pleasant tasks than you might be working on. Every task you complete brings you closer to the ultimate goal, and acknowledging this always feels good.

2. Make It Fun

When it comes to motivation, attitude is everything. Different people may have completely opposite feelings towards the same task: some will hate it, others will love it.

Why do you think this happens? It’s simple: some of us find ways to make any task interesting and fun to do!

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Take sports for example. Visiting your local gym daily for a half-an-hour workout session sounds rather boring to some. Yet many others love the idea!

They like exercising not only because they recognize the good reasons behind it, but simply because it’s fun! At certain time of their daily schedule, they find going to gym to be the best thing to do, simply because nothing else will fit their time and lifestyle so perfectly.

Depending on how you look at it, you can have fun doing just about anything! Just look for ways of having fun, and you’ll find them!

A simple approach is to start working on any task by asking yourself a few questions:

  • How can I enjoy this task?
  • What can I do to make this task fun for myself and possibly for others?
  • How can I make this work the best part of my day?

As long as you learn to have the definite expectation of any task being potentially enjoyable, you will start to feel motivated.

Some of you will probably think of a thing or two which are valid exceptions from this statement, like something you always hate doing no matter how hard you try making it fun. You’re probably right, and that’s why I don’t claim everything to be fun.

However, most tasks have a great potential of being enjoyable, and so looking for ways to have fun while working is definitely a good habit to acquire.

3. Change Your Approach And Don’t Give Up

When something doesn’t feel right, it’s always a good time to take a moment and look for a different approach for the task.

You may be doing everything correctly and most efficiently, but such approach isn’t necessarily the most motivating one. Quite often, you can find a number of obvious tweaks to your current approach which will both change your experience and open up new possibilities.

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That’s why saying “one way or another” is so common — if you really want to accomplish your goal, there is always a way; and most likely, there’s more than one way.

If a certain approach doesn’t work for you, find another one, and keep trying until you find the one which will both keep you motivated and get you the desired results.

Some people think that trying a different approach means giving up. They take pride in being really stubborn and refusing to try any other options on their way towards the goal.

My opinion on this is that the power of focus is great, but you should be focusing on your goal, and not limiting your options by focusing on just one way to accomplish it it.

4. Recognize Your Progress

Everything you may be working on can be easily split into smaller parts and stages. For most goals, it is quite natural to split the process of accomplishing them into smaller tasks and milestones. There are a few reasons behind doing this, and one of them is tracking your progress.

We track our progress automatically with most activities. But to stay motivated, you need to recognize your progress, not merely track it.

Here’s how tracking and recognizing your progress is different:

Tracking is merely taking a note of having reached a certain stage in your process. Recognizing is taking time to look at a bigger picture and realize where exactly you are, and how much more you have left to do.

For example, if you’re going to read a book, always start by going through the contents table. Getting familiar with chapter titles and memorizing their total number will make it easier for you to recognize your progress as you read. Confirming how many pages your book has before starting it is also a good idea.

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You see, reading any book you will be automatically looking at page numbers and chapter titles, but without knowing the total number of pages, this information will have little meaning.

Somehow, it is human nature to always want things to happen in short term or even at once. Even though we split complex tasks into simpler actions, we don’t quite feel the satisfaction until all is done and the task is fully complete.

For many scenarios though, the task is so vast that such approach will drain all the motivation out of you long before you have a chance to reach your goal. That’s why it is important to always take small steps and recognize the positive different and progress made. This is how your motivation can sustain in long term.

5. Reward Yourself

This is a trick everyone likes: rewarding yourself is always pleasant. This is also one of the easiest and at the same time most powerful ways to stay motivated!

Feeling down about doing something? Dread the idea of working on some task? Hate the whole idea of working? You’re not alone.

Right from the beginning, agree on some deliverables which will justify yourself getting rewarded. As soon as you get one of the agreed results, take time to reward yourself in some way.

For some tasks, just taking a break and relaxing for a few minutes will do.

For others, you may want to get a fresh cup of coffee and even treat yourself a dessert.

For even bigger and more demanding tasks, reward yourself by doing something even more enjoyable, like going to a cinema or taking a trip to some place nice, or even buying yourself something.

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Your progress may not seem to others like anything worth celebrating but, take time and do it anyway! It is your task and your reward, so any ways to stay motivated are good.

The more you reward yourself for the honestly made progress, the more motivated you will feel about reaching new milestones, thus finally accomplishing your goal.

Mix and Match

Now that you have these five ways of staying motivated, it is a good moment to give you the key to them all: mix and match!

Pick one of the techniques and apply it to your situation. If it doesn’t work, or if you simply want to get more motivated, try another technique right way. Mix different approaches and match them to your task for the best results.

Just think about it: Finding good reasons to work on your task is bound to helping you feel better; and identifying ways to make it fun will help you enjoy the task even more.

Or, if you plan a few points for easier tracking of your progress and on top of that, agree on rewarding yourself as you go; this will make you feel most motivated about anything you have to work through.

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Featured photo credit: Lucas Lenzi via unsplash.com

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