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Free Suburban Chicago Breakfast Seminar: Intellectual Property--Issues for Physicians & Medical Practices

Posted by Matthew Smith on Nov 11, 2014 10:41:00 AM

Intellectual Property, Independent Physician AdvisorsChicagoland independent practices are welcome to join the Independent Physician Advisors this Thursday, November 13th at 7:30 am in Oakbrook Terrace for their complimentary monthly breakfast seminar: Intellectual Property: Issues for Physicians & Medical Practices.

Presenting this seminar will be internationally known attorney, David Adler of the Adler Law Group.

You will learn:

  • The difference in creation, scope and protection of Patents, Copyrights and Trademarks
  • The Business Risks created by the failure to Identify, Protect and Enforce IP rights
  • The Business Risks created by online business (websites, domain names, online advertising)
  • The Business Risks created by Customers, Employees and Vendors who use Social Media

Seminar Outcomes

By the end of this session, you will have new learning insights as to:

  • How to protect your practice from potential IP infringement claims
  • How to protect your practice from Employee IP theft
  • How to protect your business from online attacks to reputation and branding

Presenter:

David M. Adler, Esq. is the principal attorney and driving force behind the Firm's Technology Practice Group with an extensive background and experience in corporate law, including contract interpretation, drafting, negotiation, and enforcement and intellectual property law.

He received his law degree from the DePaul University College of Law where he wrote for the DePaul Arts & Entertainment Law Journal. He received a Bachelor of the Arts in English, a Bachelor of the Arts in History with a minor in Chemistry from Indiana University in Bloomington, Indiana.

Outside the practice of law, Mr. Adler teaches an undergraduate course on E-Business in the Arts, Entertainment & Media Management Department of Columbia College Chicago. He also currently chairs the Chicago Bar Association's Start-up and Entrepreneurial Ventures Subcommittee and contributes to Workz.com as a "guest expert" columnist for the ecommerce and small business sections.

Schedule:

7:30am    Hot Breakfast & Networking
8:00am    Presentation 
9:30am    Q&A and open networking

Location:

Redstone American Grill
13 Lincoln Center
Oakbrook Terrace, IL 60181
(630) 268-0313

Sponsor:

EHR Chicago

Registration:

This event is complimentary, however advanced registration is required. We ask that attendance be limited to independent physicians and their office staff.

To register for this event, please click the button, below:

Register for Breakfast Seminar

Topics: Independent Physician Advisors, Independent Physicians, Medical Practice, Independent Physician Practice, IPA, Intellectual Property

Physician Employment Continues to Grow | Up 33% Since 2000

Posted by Matthew Smith on Jan 21, 2014 4:39:00 PM
Via Kansas City Star

Independent Physicians, Employed PhysiciansQuickly and quietly, hospitals across the country have been buying up hundreds of doctors’ medical practices and hiring thousands of formerly independent physicians.

Since 2000, the number of doctors on hospital payrolls nationwide has risen by one-third, according to the American Hospital Association.

The future solvency of the nation’s health care system may rest on how doctors adapt to a corporate style of medicine and on whether hospitals put the doctors to work improving patient care or fattening the hospitals’ bottom lines.

The hope of the Obama administration, as well as many independent health care experts, is that hospital systems will use their new employee-doctors both to keep people healthier and save money by preventing unnecessary trips to emergency rooms.

It’s far from clear whether those goals will be realized.

What is certain:

  • Hired doctors already are bringing hospitals billions of dollars in revenue by funneling patients to their services. There’s enough money at stake, and a great enough concern about monopoly power over health care markets, to draw the attention of federal government watchdogs.
  • As they buy out independent doctors and acquire their clinics, many hospitals are tacking “facility fees” onto those employee-physicians’ bills. For Medicare patients, these fees can bump up costs by 70 percent compared to the bills for basic office visits to independent doctors.
  • Young physicians are embracing hospital employment for a variety of personal and financial reasons, while older doctors are selling their practices out of frustration over declining payments for their services. Some observers say we’re seeing the death of independent medical practices.

The trend is playing out across the country, particularly in growing suburbs with well-insured residents like Overland Park, KS, Spartanburg, SC, and Phoenix, AZ,where hospitals have been buying up large independent practices.

Other hospitals, like the Cleveland Clinic and Heartland Regional Medical Center in St. Joseph, have been hiring physicians to staff new outpatient facilities in direct competition with independent doctors.

“No one wants to be left out,” said Joy Grossman, a senior health researcher with the Center for Studying Health System Change, a Washington think tank. “It becomes a war between hospitals to acquire practices.”

Fueled by Referrals

For hospitals, the spoils of that war begin with referrals.

It’s a business model adopted by hospitals across the country: Hospital-employed primary care doctors refer patients to the hospital’s employed specialists, who admit the patients to the hospitals that employ them.

As those patients make their way through, the employed doctors order their tests, lab work, MRIs, surgeries and other lucrative services through their hospital system. By one estimate, these revenues average $1.5 million a year per physician.

Hospitals with strong exclusive networks of doctors have far greater leverage than independent doctors to negotiate higher payments from insurance companies. Costs can soar where hospitals command large shares of the market.

“We see it every day in hospitals across the country. They use their clout to increase prices for physicians,” said Robert Zirkelbach, vice president of America’s Health Insurance Plans, the industry’s trade association.

“When a hospital buys a practice, its rates will increase in the following year’s contract. Increases of 20, 30 or 40 percent are not uncommon. It’s not 3 or 4 percent, that is for sure.”

Hospitals Doing Most Recruiting of Physicians

Each year, the physician search company Merritt Hawkins tracks efforts to recruit physicians into different types of medical settings, including hospitals, group practices, physician partnerships and community health centers. Increasingly, it’s hospitals that are doing the most recruiting.

Hospitals’ percentage of all physician search assignments

2004: 11%

2005: 19%

2006: 23%

2007: 43%

2008: 45%

2009: 45%

2010: 51%

2011: 56%

2012: 63%

2013: 64%

Source: Merritt Hawkins

Independent Practice, Independent Physician, Physician Practice, Allied Physician

Topics: Employed Physicians, employed physician practices, Employed Medical Practices, Independent Physicians, Affordable Care Act, Independent Physician Practice

New Download: How to Survive & Thrive as an Independent Practice

Posted by Matthew Smith on Oct 1, 2013 1:43:00 PM

Download, Independent Physician PracticeWe've all seen the recent uptick of private medical practices closing their doors--and physicians choosing hospital employment. But some physicians choose to stay the path of independence...and they're thriving.

A number of financially viable options exist which allow physician practices to remain independent and experience personal satisfaction in their practice--even given today's tumultuous healthcare environment.

Our new guide, "How to Survive and Thrive as an Independent Practice" examines a handful of options facing the independent practitioner. Topics include:

• Review industry trends
• Identify key operational tactics to remain independent
   –Care Coordination
   –Technology
   –Quality Programs
• Consider alternative strategies to remain independent
   –Practice mergers
   –Space sharing
   –Concierge practice
• Top “10” List to remain independent

To download your complementary copy, simply click on the button below and share some basic information with Health Directions.

Independent Practice, Independent Physician, Physician Practice, Allied Physician

Topics: Independent Physicians, Independent Physician Practice, IPA, Download, PHO

Infographic: Highlights of Medscape's Physician Compensation Report

Posted by Matthew Smith on Aug 2, 2013 10:00:00 AM

Medscape Physician Compensation Report, Infographic, Physician CompensationThe 2013 Physician Compensation Report, published by Medscape, reveals physicians' most current salary and earnings trends by medical specialty.

This comprehensive report, with new questions and insights this year, represents data from nearly 22,000 US physicians across 25 specialty areas. It provides rarely-shared information on personal income, patient load, time spent per patient, attitudes toward insurers, and much more.

Key takeaways include:

  • 2012 compensation statistics
  • Compensation by geographic area
  • Compensation by practice setting
  • Participation in various payment models
  • Hours spent with patients per week
  • Number of patient visits per week
  • Satisfaction by speciality

Click here to view the complete slideshow at medscape.com. 

Highlights of the report are included in the infographic, below:

Physician Compensation Report, Medscape, Employed Physicians

Employed Physicians, Employed Physician Practices

Topics: Employed Physicians, employed physician practices, Independent Physicians, Physician Compensation

10 Fastest Growing Cities For Concierge Medicine

Posted by Matthew Smith on Jul 23, 2013 11:25:00 AM

concierge medicine, In order to avoid the ongoing stress and health insurance headaches, many physicians have switched to cash-only practices and are saving their patients money in the process. Physicians throughout the country are setting up membership-based programs that offer discounts on services to customers.

The programs vary greatly in price--anywhere from $100 a year to $2,500 annually--depending on patient load and the level of personal attention you want. It's a trend also known as "concierge medicine."

The demand for concierge, direct care, cash only and retainer-based medical models by consumers has been on the rise for many years. Experts claim that the number of patients who are seeking concierge medical care is far greater than the actual number of primary care and family practice doctors available to serve them.

Top 10 Fastest Growing Cities For Concierge Medicine

  1. San Fransisco, CA
  2. New York, NY
  3. Palm Beach, FL
  4. Baltimore, MD
  5. Washington, DC
  6. Philadelphia, PA
  7. Seattle, WA
  8. Chicago, IL
  9. San Diego, CA
Source: Concierge Medicine Today and The Concierge Medicine Research Collective Los Angeles, CA

“Despite what we hear in the media about the increase in concierge and private-pay physicians growing across America, there are simply not enough of these [concierge-style, direct care or membership medicine-style] physicians in the U.S. to meet the current demand,” said Michael Tetreault, Editor-In-Chief of Concierge Medicine Today and Executive Director of The Concierge Medicine Research Collective. “Interest in our LOCATE A DOCTOR search engine [for concierge-style, direct care doctors] has increased tremendously since the election and the first of the year. But, unfortunately, even if you include all of the doctors touting themselves as retainer-based or concierge medical practices — at the end of the day, the marketplace is still falling short.”

Demand For Concierge Medical Care Currently Outweighs Supply of Physicians Across U.S.

There are currently four states that have a huge lead in the amount of active concierge or private-pay physicians in practice and consumers seeking their care. Florida, California, Pennsylvania and Virginia each have a significant number of people [most over age 50] seeking out concierge doctors and there is, fortunately, a sizeable number of concierge physicians to serve them.

It’s extremely difficult to find a physician for those seeking concierge physician services in very rural areas like Idaho, North and South Dakota, Louisiana, Mississippi and others. Often times, we have found that there are less than half-a-dozen practitioners to serve an entire state says one Patient Connection Specialist at CMT.

Merritt Hawkins released similar data from their survey among physicians considering opening a concierge medical practice stating the following:

States with Doctors Considering Starting A Concierge-Style Medical Practice

  • Texas: 10.6%
  • Florida: 9.1%
  • New York: 8%
  • California: 6.7%
  • North Carolina: 5.6%
  • Illinois: 5.3%
  • Washington State: 4.8%
  • Pennsylvania: 4.5%

“While the number of physicians entering concierge medical practices needs to increase,” adds Tetreault, “more transparent pricing among doctors is also needed. Unfortunately, our nation’s new health care reform law does little in this respect.”

Increasing the Number of Concierge Physicians Across The U.S.

There are three ways you can instantly increase the number of physicians stated above.

First, understand that the terminology being used in the concierge medicine or direct care marketplace describes many types of business models where doctors have some form of non-insurance or direct financial relationship with their patients. While all concierge medicine practices share similarities, they may vary widely in their structure, payment requirements, and form of operation. But at the end of the day, price transparency, access, affordable rates and the personal level of service provided to each patient is what they all have in common.

Second, understand that the term concierge medicine describes more specialties than just primary care, internal medicine and family medicine. Some dermatology, pediatric, cardiology and even dental practitioners are now providing a level of concierge medical care.

Third, education. Most people understand that concierge medicine has had somewhat of a “brand/identity” issue. It’s been referred to as: membership medicine; boutique medicine; retainer-based medicine; concierge health care; cash only practice; direct care; direct primary care, personalized healthcare, direct practice medicine and, most recently, contract carrying healthcare. Because at its inception, it appeared costly, elitist and controversial, many people associated a “rich man’s” stigma to it. However, the consumer, the physician community and even some legislators are realizing that this form of healthcare delivery, when free-market driven, is saving money and providing “better care,” according to MDVIP hospitalization studies conducted in the past two years 

Why Patients Choose Concierge Medicine

  • 34% said price was the main reason they chose concierge medical care
  • 17% said Medicare acceptance/participation was the main reason they chose concierge medical care
  • 6% said more time with my doctor was the main reason they chose concierge medical care
  • 29% said insurance compatibility was the main reason they chose concierge medical care
  • 6% said less office staff to deal with was the main reason they chose concierge medical care
  • 2% said limited/no waiting was the main reason they chose concierge medical care
Source: Concierge Medicine Today and The Concierge Medicine Research Collective

The takeaway here is that while price is important, it’s the additional selling features that help build your brand and make you more attractive to patients. The second takeaway here and important to note is that a lot of concierge practices focus on limited or no waiting at their office. While this is a nice feature of the practice, it was the least important aspect as to why patients choose concierge care for them and their family.

Regardless of how you describe it or the term you associate with concierge medicine, the public’s perception of these healthcare delivery models is changing for the better. Patient retention among concierge medical physicians is 7 to 9 years, two years longer than traditional, insurance based primary care practices. We expect this number to increase as time passes and more data becomes available. When a physician is free to create pricing structures that meet their local demographic demands without the intrusion from insurance and avoid providing “hamster healthcare,” which only allows doctors to spend 6 to 9 minutes with their patients, you make a happier patient, healthier family and less frustrated and fatigued doctor who is able to care for their patients more thoroughly and comprehensively.

Topics: Concierge Medicine, Direct Care, Retainer-Based Medical Model, Independent Physicians

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