WILMINGTON, Delaware, December 22, 2011 /PRNewswire/ --
The Myth that physicians workload lessens its pace during the holiday season has been broken and with the New Year quickly approaching physicians are preparing for some significant changes in running their clinics. A study by RNCOS depicts Healthcare IT spending by physicians and other healthcare is expected to reach $40 billion by the end of this year, with most of it attributed to electronic health record (EHR) systems, mobile health applications and efforts to comply with new government standards.
Many doctors due to the pressure of healthcare reforms are taking this time of the year to streamline their practices. According to the "Physician News Digest" due to increased reporting, problematic reimbursement and high potential liability, which place extraordinary stress on physicians, healthcare facilities prefer to partner with companies that specialize in outsourced physician services.
Doctors impacted by healthcare reforms…
Proposed changes to the healthcare system have already significantly impacted physicians and their spending pattern, and are challenging the entire system to deliver improved care. The last quarter has shown phenomenal results and the major reasons of increase in spending by physicians can be attributed to: - the Healthcare Reform Act, the new ICD-10 coding system, and adoption of EHR systems, which will be mandatory by 2015.
Outsourcing billing services - a solution to physicians
As physicians adapt to the new healthcare reforms, face costly regulations and reduced reimbursement rates from Medicare and commercial payers, they are looking at outsourcing their billing and collections. According to the American Medical Association, the top 3 payers, in the US adhere to paying contracted payment rates only 68% of the time.
To overcome these challenges, many physicians are seeking outsourcing partners and medical billing exper