VIEWPOINT Magazine

Perspectives on the business of healthcare

Brought to you by The Verden Group

The Autumnal Equinox 2017 Issue is Out!

This issue is all about finances. Clients struggle with everything from budgeting to tracking key performance indicators, paying physicians fairly and valuing their practices. In this issue we do a deep dive into compensation, valuation, tracking finances, the cost of employee turnover and managing increased patient financial responsibilities. We hope you enjoy this season’s issue!

About Viewpoint

Viewpoint Magazine is a labor of love project from The Verden Group and its associated companies, created to deliver transparent interpretations of health care industry happenings, with the perspective to help support the independence of private practice. ViewPoint – what you need to know, now. Read more »

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Featured Articles

Selected for you from the magazine. More articles »

KILLING THE AFFORDABLE CARE ACT

The congressional failure to replace, or repeal, ACA has done little to halt White House ACA-elimination attempts. Rather, it shifted the Trump Administration’s repeal strategy to one of utilizing underhanded tactics, by undermining the federal ACA exchanges and individuals’ support through de-funding specific provisions.

R.I.P. NCQA PCMH 2014

What's In, What's Out, and what to expect from the new standards. If your practice is racing toward the finish line to become recognized as a Patient-Centered Medical Home (PCMH) under the 2014 program of the National Committee for Quality Assurance (NCQA) by September 30th, we wish you a speedy and successful finish!

CYBERSECURITY: Implementing Basic Safeguards At Your Practice

The recommendations discussed here can be implemented by most practices without a large investment of time or money, and should be executed immediately if your practice has not already done so.

MANAGING INCREASED PATIENT FINANCIAL RESPONSIBILITIES WITH HEAD AND HEART

When money is not an issue, when the patient has good insurance coverage, low, affordable copayments and deductibles, and is able to readily make payment, the relationship is without conflict for the physician. The patient-physician relationship is not stressed by economics.

SIMPLE METHODS FOR VALUING YOUR MEDICAL PRACTICE

How to determine your practice’s value for buy-in, buy-out and sale to other practitioners. The trick to a fair shareholder valuation formula is to keep it simple. Think of conveying the calculation to, say, a new physician that is thinking about joining your practice and buying in. If the process takes more than a minute to explain, it is likely that it is more complicated than it needs to be.

FOUR SIMPLE WAYS TO TRACK KEY FINANCIAL PERFORMANCE INDICATORS

Timely and relevant information is essential to staying on top of your finances. Whether you are an employed physician or own your practice, there are four simple things you should look at every month to ensure that your practice is running effectively.

Employee Turnover: The True Cost of Hiring a Replacement

It can feel like a revolving door at your practice, with a never-ending parade of new employees each needing to learn the ropes. Staff turnover disrupts routines, impedes patient care, and wears down office morale and the team’s ‘spirit’. When all is considered, including the cost of the hiring and replacing staff, your practice is losing much more than an employee.

Physician Compensation: Owners and Employees

Let’s take a look at some lessons-learned and best practices for managing clinician compensation for both partners and employed clinicians.

Patient Debt: The Peril of the Independent Physician

Author of The Patient, The Doctor and The Bill Collector, and our esteemed colleague, Robert E. Goff, writes about the impact of medical debt on the independent physician. (first published in MiraMed http://www.miramedgs.com/insights/60-focus/current-issue/summer-2017/694-patient-debt-the-peril-of-the-independent-physician)

Screening for Depression: How Policies Differ Across the Four Largest US Insurance Companies

Anna Ialynytchev compares the commercial policies of four of the largest insurers to see how depression screening is covered. If you think there is little variation in policy , read on . . .

What You Need To Know About PCMH 2017

In a move designed to make PCMH more adoptable, NCQA overhauls its standards and gets more involved with practices. Amanda Ciadella tells us what we need to know about the new program.

Enhancing Customer Service the Disney Way: The Psychology of Intention

Whitney Smith writes an account of what she learned at Disney and shares tips and tricks to incorporate the principle of 'intentionality' into any practice.

Curated Video

Behind the scenes, up close, and personal. More video »

Interviews & Podcasts

Frontline stories from our clients, colleagues and consultants. More stories »

Interview: Michael Lubin, VP, Hint Health

Susanne spoke with Michael Lubin, VP of Hint Health, a 'direct care' company that helps connect physicians directly to patients and employers. No more middleman insurance companies!

Interview: Todd Wolynn, MD

We asked Dr. Todd Wolynn to tell us a bit about how he's innovating at his practice, Kids Plus Pediatrics. By investing in a studio onsite at his practice, this doctor has turned connecting into a lot of fun for everyone.

Videocast: George Rogu, MD, CPE

Susanne Madden sat down with George Rogu, MD, CPE, of RBK Pediatrics in Long Island, NY, to discuss the impact of technology on his busy pediatric practice.

Podcast: Gautam Gulati, MD

Dr. Gulati and Susanne Madden had an opportunity to talk about innovation - its cause (and stagnation) and its application. Even innovating oneself.

Interview: Scott Hodgson

Self described "design addict", Scott Hodgson has been the creative brain behind countless branding, identity, advertising and packaging projects.

Podcast: A Conversation with Christoph Diasio, MD

Susanne Madden spoke with Dr. Christoph Diasio, managing partner of Sandhills Pediatrics (North Carolina) and chair of the AAP section on practice management (SOAPM) about incorporating mental and behavioral health into his pediatric practice.

Female Solo Pediatric Practices of 2016

At The Verden Group, we assist many physicians with starting their new practices. Our favorites are the independent female pediatricians who decide to break out and create practices THEIR way.

Interview: Bonnie Feola, MD

We spoke to Dr. Bonnie Feola about her experiences with buying over an established pediatric practice and how she made it one her own, one step at a time.

Podcast: A Conversation with Brent Cardwell, MD

On the challenges and opportunities inherent in running an independent pediatric practice and a pediatric IPA.

Interview: Brandon Betancourt

We interviewed Brandon Betancourt of Pediatric Inc and Salud Pediatrics about his thoughts on what in means to innovate at the pediatric practice level today.

A Tale of Two Supergroups: Scott Schams, MD

We interviewed two physician CEOs who have worked hard to band practices together to form independent clinically integrated 'Super Groups': Dr. Scott Schams of Allied Pediatricians of Texas and Dr. Jill Stoller of BCD Health Partners.

Interview: Scott Schams, MD

We asked Dr. Scott Schams to share one of his passions with us - heading “off the grid” and into the wilds!