The Worst Practice Climate I've seen in 30 Years

26% of Solo Practitioners Polled on Sermo Forced to Close Due to Financial Hardships

http://www.sermo.com/about-us/pr/02/february/3/26-solo-practitioners-polled-sermo-forced-close-due-financial-hardships

How sad that the payer system in healthcare has become so dysfunctional and corrupt that the physicians most deserving of patient’s trust are often the ones forced to close. Practices will either learn to be smarter, or it will be harder to keep the doors open.
We are on the verge of a revolution as to how medical practices manage themselves. Today, there are some virtual solutions that can help with the revenue cycle management available. However, these typically take 6-7% of the practice collections right off the top. How sad.
The good news is that, within 6-12 months, I foresee options that will begin to offer superior RCM within this dysfunctional system that will have costs more in the 3-4% of collections range for medical practices. This, along with some other redesigns of practice business and clinical processes are some of the only glimmers of hope that I see coming within the next year. These solutions will not have the typical, huge upfront expenses or need for a large I.T. staff in the practice. More to come.