With declining reimbursement and escalating overhead, the pressure is on to maintain and increase physician practice revenue. Are gastroenterologists looking to different strategies to keep their practice successful? Here are 10 statistics from the Medscape Gastroenterologist Compensation Report 2014.
Alternative payment models
The traditional payer-provider model is under strain as both parties look for ways to cut costs and remain viable businesses. As a result, physician practices are looking to different payment models. ACOs lead the pack as the most frequently turned-to strategy among gastroenterologists, according to the report.
• Gastroenterologists participating in an accountable care organization: 24 percent
• Gastroenterologists planning to join an ACO within the next year: 12 percent
• Gastroenterologists participating in a cash-only practice: 4 percent
• Gastroenterologists participating in a concierge practice: 2 percent
Ancillary services
Adding laboratory services or other in-house services helps keep patients under one roof, your roof. A significant number of gastroenterologists are picking up on this and bringing ancillaries to their practices.
• Self-employed gastroenterologists beginning to offer ancillary services: 36 percent
• Employed gastroenterologists beginning to offer ancillary services: 19 percent
Price transparency
Price transparency has been a hot topic in healthcare, but remains more talked about than practiced. Some gastroenterologists are beginning open price discussions with their patients.
• Gastroenterologists regularly discussing costs with patients: 33 percent
• Gastroenterologists discussing costs with patients that ask: 47 percent
• Gastroenterologists that do not know the cost of treatments: 11 percent
• Gastroenterologists who believe discussing cost with patients is inappropriate: 4 percent