PHYSICIAN SOLUTIONS PRESENTS
Med Monthly MAGAZINE
October 2016
Are E-Prescriptions Right for Your Practice? pg. 28
the
Income s to Resource Consider issue
Electronic Health: An Income Resource to Consider pg. 26
How to Increase Dental Practice Revenue in a Competitive Market pg. 22
contents
ELECTRONIC HEALTH: An Income Resource to Consider
26
features
22 HOW TO INCREASE DENTAL PRACTICE REVENUE IN A COMPETITIVE MARKET 26 ELECTRONIC HEALTH: An Income Resource to Consider 28 ARE E-PRESCRIPTIONS RIGHT FOR YOUR PRACTICE? MARKETING YOUR PRACTICE USING SOCIAL MEDIA
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practice tips 6
MOBILE HEALTH TECHNOLOGY: It’s a Phone, It’s an App, It’s a…Medical Device?
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MARKETING YOUR PRACTICE USING SOCIAL MEDIA
10 CHOOSING THE RIGHT MEDICAL PRACTICE TECHNOLOGY LEASE 12 MILLENNIAL MOMS: The Future of Healthcare
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Med Monthly October 2016 Publisher Creative Director Contributors
Philip Driver Thomas Hibbard Naren Arulrajah Molly R. Berkery Barbara Hales, M.D. Nick Hernandez, MBA, FACHE Thomas Hibbard Audrey McLaughlin, RN Jed A. Roher Paul Schrimpf Vikas Vij
contributors Molly Berkery is an associate in Godfrey & Kahn’s Health Care Practice Group. Molly advises hospital and other health care industry clients on a wide range of corporate and regulatory matters. She also counsels clients on issues related to compliance with the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health (HITECH) Act.
Barbara Hales, M.D. is a skilled expert in promoting your health services. As seen on NBC, CBS,ABC and FOX network affiliates as well as Newsweek, Dr. Hales writes all the content you need to promote your medical services. Her latest book is on the best seller list and she can do the same for you. Check out her site at www.TheWriteTreatment.com
Nick Hernandez, MBA, FACHE
Med Monthly is a national monthly magazine committed to providing insights about the health care profession focusing on practical advice for physicians and practices. We are currently accepting articles to be considered for publication. For more information on writing for Med Monthly, please email us at medmedia9@gmail.com.
P.O. Box 99488 Raleigh, NC 27624 medmedia9@gmail.com Online 24/7 at medmonthly.com
is the CEO and founder of ABISA, a consultancy specializing in solo and small group practice management. He has consulted with clients in multiple countries and has over 20 years of leadership and operations experience. Visit www. abisallc.com for more information.
Audrey McLaughlin, RN is a physicians practice expert, medical practice business strategist & marketing specialist. She uses her more than 12 years of diverse medical industry experience to help physicians, practice owners and managers to breathe new life into their practices.
Jed A. Roher is a shareholder in the Tax & Employee Benefits and Corporate Practice Groups, and co-chairs the Emerging Companies Practice Group. Jed also is a co-chair of Godfrey & Kahn’s Recruiting Committee.
MED MONTHLY MAGAZINE |5
practice tips
Mobile Health Technology: It’s a Phone, It’s an App, It’s a…Medical Device? By Molly R. Berkery and Jed A. Roher Godfrey & Kahn S.C.
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A
s mobile health technology has proliferated, federal regulatory authorities have taken notice. In particular, over the last five years the U.S. Food and Drug Administration (FDA) has been honing its approach to mobile apps and has released a series of documents that provide helpful guidelines to developers of healthtech apps. In particular, the FDA sorts mobile apps into three buckets: 1. apps that are not “medical devices,” and so are not subject to the Federal Food, Drug and Cosmetic Act (the FD&C Act); 2. apps that are medical devices, ostensibly subject to the FD&C Act, but that pose a low enough risk to the public that the FDA has determined not to enforce the FD&C Act with respect to them; and 3. apps that are medical devices, subject to the FD&C Act, and over which the FDA intends to apply its regulatory authority Generally, applications in this last group are applications that the FDA has determined could pose a risk to patient safety if they do not function as intended An app may qualify as a “medical device” under the FD&C Act if it is intended for use in the diagnosis, cure, treatment or prevention of disease, or to affect the structure of, or any function in, the human body; an app may also qualify as a medical device if it is intended to be an accessory for an already-regulated device. For example, an app that involves the attachment of electrocardiography (ECG) electrodes to a mobile platform to measure ECG signals is likely a medical device, as is a mobile app that allows the user to control inflation of a blood pressure cuff through a mobile platform. These are the types of healthtech apps over which the FDA is likely to assert regulatory authority. If an app intends only to help patients self-manage diseases or conditions, track and organize their health information, gather information about health conditions or treatments, or communicate with providers, the FDA has indicated it will not enforce the FD&C Act with respect to the app, even if the app technically qualifies as a medical device. For example, if an app allows a diabetic user to log or track events or measurements and share that information with the user’s health care provider, the FDA will not assert regulatory jurisdiction over the app. Just a few weeks ago, the FDA finalized guidance that indicates a similar approach to general wellness apps – generally apps that are intended to aid in maintaining or encouraging a general state of health or a healthy activity. Wondering which bucket your app falls into? Recently, the FDA, in collaboration with the Federal Trade Commission and the U.S. Department of Health & Human Services, released an interactive tool designed to allow app developers to initially determine which laws might apply to, and which regulatory bodies might assert jurisdiction over, their applications. Of course, use of the tool is not a substitute for careful consideration of the regulatory environment, but it offers a helpful starting point. Source: http://www.gklaw.com/news.cfm?action=pub_detail&publication_ id=1660
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practice tips
Marketing Your Practice Using Social Media
By Audrey Christie McLaughlin, RN
By now you know that social media is a key piece of a solid marketing strategy for any practice. What you may not realize is that statistically Facebook is the most used social media network, with 890 million U.S. users, and the most important you’re your practice should be active on. Not only is Facebook the largest and most used, but it also most targeted and least expensive advertising avenue available. Meaning if you are using any other form of advertisement and NOT using Facebook it’s long past time to reconsider. With recent news feed changes, practices that are new to the social scene may have trouble gaining engagement without following specific steps to ensure the best chance of their posts 22|| OCTOBER DECEMBER 2013 8 2016
being scene. This is all covered in depth in our Facebook 101 Class for Medical Practices, but lets take a look at how you can get started now: Here are some key ways to gain more engagement (which leads to more patients and profits): 1. Use a lot of local keywords in your About Section. There are two places I recommend using local keywords in your Page Settings/About Section. First in your page name, especially if you can’t get your desired name or your name is similar to other practices in town or nearby (or even for multiple locations). Second, in your short and long page
descriptions. These are all found in the same place when you are editing your About Section. 2. Utilize Facebook Insights. Facebook offers amazingly detailed information in a simple format. This feature allows you to see what else your local audience is interested in, so that you can share topics and images they’re most like to engage (like, comment, share) with. You can see all kinds of information, such as age, relationship status, education level, purchase behavior, the other pages they interact with…it’s really quite extensive. 3. Find community influencers. Who in your local business community is active on social media and has a good following? Interact with them, share their posts on your page, share their local events, and cross promote. Not sure who? Think of store owners, the local chamber, the local paper, or schools. 4. Find and use local hashtags. Sure hashtags are fun, but they can also be very helpful in driving the right people to you. It may take a little searching to discover what hashtags you should use for your area, but they can help your prospective patients reach you. For example if you are in the DFW Metroplex, you might use #dallastx or #dfw. When someone searches for “family practice DFW” with or without the hashtag, its more likely you will pop up.
Share when the local high school teams/bands/ athletes do something amazing. Share news stories related to local illness epidemics. This serves double duty, getting your patients and prospective patients the information they need and keeping your practice in the spotlight. 6. Super-targeted Facebook Ads. And finally, super-hyper-targeting with Facebook ads. One of Facebook’s super-powers is that you can target your audience, for example if you want to reach 18-30 year old diabetic males in the 83705 zip in Boise, ID and a 5 mile radius, that is completely doable. Be sure before you spend any money on Facebook advertising that you are taking full advantage of your targeting options. And if Facebook ads feels totally overwhelming, get help. Facebook 101 for Medical Practices goes in depth into Ads. With these super-powered super-local tips you can drive traffic to your social media page, resulting in a community of people interested in your practice, increasing your patients and profits.
A word of hasthtag caution…always be certain that the hashtags you use are what you think they are. Search each one and check to ensure the majority of the posts are in line with your offices views. Then give your staff that manages the social media access to only use pre-approved hashtags to avoid any embarrassing associations. 5. Tag and post about Local Businesses and Events. Here is something you may find shocking. A successful page it not all about your practice, but it cultivates a community in your local area with your practice as the hub. Depending on your target audience, share information that your patients/ prospective patients would find useful. Perhaps that is the local Egg Hunt, maybe Soccer Sign-ups, or a Lunch-N-Learn at the Senior Center. Maybe it’s an upcoming 5k or Farmer’s Market or Parade. MED MONTHLY MAGAZINE
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practice tips
Choosing the Right Medical Practice Technology Lease
By Nick Hernandez, MBA, FACHE CEO and Founder of ABISA
Medical practices often find themselves trying to keep pace with advancements in technology, but keeping up is easier said than done. Investment in technology places heavy demands on capital resources. As a result, administrators are exploring alternative sources of capital beyond customary bank loans. 10
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When you buy equipment and finance it with a loan, you own the equipment. The loan just allows you to spread out the purchase price of the equipment over several years. You pay back the principal plus interest over the term of the loan. In contrast, a lease is a longterm arrangement to rent equipment. Technically, you don’t own the equipment when you lease it. However, there are different scenarios. In many cases, leases are virtually indistinguishable from loans, and you receive all the benefits and drawbacks of ownership even though you are technically not the owner. Other types of leases are very different from loans and don’t offer the advantages or responsibilities of ownership. Do you need new equipment but can’t afford to buy it outright? Equipment leasing might be for you. Many administrators are taking a fresh look at lease financing and that’s raising some significant questions. Administrators should know what leasing options are available, when leasing is an appropriate solution, and what business issues must be addressed in a leasing program. Equipment leasing is a popular way for practices of every size to affordably keep technology and equipment up to date. Because most leases do not require a substantial down payment, leasing enables you to hold on to your cash and invest it in other areas of your practice. Many equipment leases also allow you to trade in your old equipment, an additional feature that makes equipment leasing especially appealing to practices who would otherwise end up with
obsolete equipment. Some equipment leases also qualify you for tax credits. When seeking a means to fund expensive but essential technologies, operating and capital leases are two options that administrators should consider. The differences between the two options have to do mainly with the accounting method, the tax treatment, and the ownership of the equipment.
ments are treated as liabilities. The most common type of capital lease is the full-payout lease, often referred to as a “dollar-out” lease. It functions like a lease-purchase contract in that at the end of the lease term and upon payment of the final lease installment, you will automatically acquire title to the asset. Your accountant treats the related depreciation and the interest portion of each lease payment as expenses to the income statement. A capital lease may be appropriOperating Leases ate when the asset being financed is An operating lease is more like a mature technology with little or the monthly rent that you pay on no risk that technological obsolesyour medical building. It is a lease cence would be problematic for you with no transfer of ownership and/or the asset is likely to be used interest or title between lessor and for more than five years. Practices lessee. can fully deduct depreciation and Unlike with a capital lease, lease payments against their income equipment tied to an operating taxes, while only lease payments are lease is not considered an asset. deductible with operating leases. The operating lease payments are The issue of being the owner of treated as operational expenses on obsolete equipment is one to conyour profit and loss statement. sider when you are comparing capi An operating lease may be appropriate if the asset being financed tal versus operating leases. Since you will retain ownership of the is not a mature technology and it equipment at the end of the term of poses a high risk of technological the capital-type lease, you could be obsolescence, which would cause the owner of obsolete equipment major problems for you. It also may be appropriate in any instance that is difficult to get rid of but can no longer be used in your field. where the asset is likely to be used Every lease decision is unique, for five years or fewer. Since there is no ownership involved, operating so it’s important to study the lease leases offer a great deal of flexibility. agreement carefully. Compare the costs of leasing to the current interest rate, examining the terms Capital Leases A capital lease is similar to a loan to see if they’re favorable. What is the lease costing you? What in that you are seeking a longare your savings? Compare those term commitment to use a piece numbers to the cost of purchasing of equipment with or without the the same piece of equipment, and eventual opportunity to purchase you’ll quickly see which is the more that asset. The equipment you are leasing is treated as an asset on your profitable route. balance sheet and the loan payMED MONTHLY MAGAZINE
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practice tips
Millennial Moms: The Future of Healthcare
By Paul Schrimpf Associate Partner and co-lead of Prophet’s healthcare practice
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When Prophet conducted research with GE Healthcare Camden Group earlier this year, we learned that the state of the patient experience is bad. Really bad. But it’s worse for some of healthcare’s heaviest users: millennial moms, usually defined as those between the ages of 18-33. While women have become an increasingly strong force in consumer decision-making in all industries, their clout in healthcare and wellness is immense. Women make most healthcare decisions in 80 percent of American households. And Gen Y moms are the most vocal segment of all. Fiercely hands-on, 41 percent describe themselves as the family’s “go-to resource” for healthcare. (Only 32 percent of older moms see themselves in that role.)
Millennial Moms Are the Most Frustrated While 75 percent of frequent healthcare consumers in our survey say they are frustrated with their current healthcare experience, an overwhelming 91 percent of Gen Y moms are unhappy. Three main complaints came up over and over again: Limited access to care, overly-complex system and high price tags. Healthcare companies who want to start winning these younger mothers over can begin by providing care that is: *Convenient - As moms of younger children, they’re always on the go. They’re also playing multiple roles, with 70 percent working outside the home. So providers who don’t offer weekend or evening options create significant stumbling blocks for these moms. They want to access care without having to take time off from work. And as millennials, they’re more likely to connect to the world digitally; Amazon, Netflix and Spotify are among their favorite brands. So they’re baffled that healthcare providers can’t give them digital basics, like scheduling appointments via email or texting them when a prescription is ready. (50 percent of Gen Y moms say they’d prefer to communicate with providers primarily through digital communications, more than other group in our research.) Smart providers have already caught on to this, and are offering the kind of unexpected (and delightful) services that make it easier for young moms to incorporate healthcare services into their busy, always-connected lives. Some are sharpening their in-house digital capabilities. Others are partnering with companies like Mycontinued on page 14 MED MONTHLY MAGAZINE
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CareText, a messaging tool that connects patients and family members with healthcare providers throughout the entire cycle of care. Others, like One Medical, have even done away with waiting rooms. Since 95 percent of its appointments start on time, busy moms can just show up when they’re supposed to and be shown into exam rooms—no waiting required. *Easy-to-navigate - Millennial moms are tech-savvy and love instant feedback. They can Google their way to powerful health, wellness and parenting information, whether it’s a how-to swaddle a baby video on YouTube or information about fevers from their BabyMedBasics app. Perhaps because they’re so used to figuring things out with the help of a smartphone, they’re flummoxed by the hoops providers make them jump through for simple talks like getting a referral or following up on a blood test. More than one in five millennial moms in our sample say they need help finding their way through the system. And 67 percent wish they could get “all my care from a connected network of healthcare providers,” compared to just 55 percent of older moms. In most areas of their lives, millennial moms turn to crowdsourcing for how-tos. (They are more likely than moms in other age groups to look for healthcare information among friends and family, and spend more time on social media each week). Thoughtful providers are helping consumers create this kind of network for themselves. Partners HealthCare, a hospital network in Cambridge, Mass., for example, is teaming up with patient advocacy site PatientsLikeMe, to help people connect with others who have the same health problems so they can share their experiences. *Reasonably priced - Our study reveals that millennial moms are very cost conscious when it comes to healthcare, with a four percentage point gap between millennial moms’ and older mothers’ willingness to spend money on healthcare when they are sick. (Other research has shown that Gen Y patients, who grew up in the age of Groupon, are twice as likely to ask for medical care discounts and cheaper treatment options.) And it’s hard to fault them for being reluctant. These women are accustomed to price transparency, comparing the prices of everything from airline tickets to diapers. It doesn’t make sense to them that the cost of a medical visit, as well as their out-of-pocket pay14
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ment, always has to be a surprise. Healthcare companies that try to provide greater price transparency will go far with this group. For instance, StrideHealth, an online insurance broker, gives consumers cost transparency into their personalized healthcare needs while selecting a health insurance plan. It’s simple, personalized health coverage recommendations allow consumers to know exactly how much their specific health needs will cost them. As the millennial population continues to grow in importance to the healthcare industry, organizations must strive to understand the patient experience from this generation’s point of view, and rethink their offerings to deliver on these new expectations. Offerings need to be easy, convenient and affordable, with agile digital tools that alleviate pain points. And for millennial moms, healthcare products and services need to make sense for her growing, changing family. The healthcare organizations that can deliver a convenient, easy-to-navigate and reasonably priced patient experience will win the loyalty of millions of millennials moms. Source: “The State of Consumer Healthcare: A Study of Patient Experience” conducted by Prophet and GE Healthcare Camden Group, February 2016. Paul Schrimpf, Associate Partner at Prophet Paul is a leader of Prophet’s healthcare practice, working across the provider, pharmaceutical, payer, and manufacturer sectors. He has worked with a wide array of healthcare clients, including Abbott, AbbVie, American Medical Association, Anthem, Becton Dickinson, HillRom, John Muir Health, Molina Healthcare, and UCSF Health. Paul specializes in developing and implementing marketing, brand and customer experience strategies rooted in deep consumer insights and analytics. His previous experience at Accenture Marketing Sciences and IRI’s Advanced Analytics group, along with his masters in marketing research, enables Paul to expertly deploy analytics to problem solve complex marketing challenges. Paul has a Bachelor’s of Business Administration in Marketing and Accounting from Loyola University Chicago, and a Master of Marketing Research from Southern Illinois University Edwardsville. He is part of the Prophet-for-Non-Profit leadership team and serves on the board for The Water Trust, a non-profit addressing water, sanitation and hygiene needs in East Africa.
is now hiring primary care MD’s, PA’s, NP’s and DDS’s in North Carolina, Virginia and South Carolina
Ongoing and intermittent shifts are available for physicians, mid-levels and DDS, as well as permanent placement. Find out why providers choose Physician Solutions. P.O. Box 98313, Raleigh, NC 27624 Scan this QR code with your smartphone to learn more.
phone: 919.845.0054 fax: 919.845.1947 e-mail: physiciansolutions@gmail.com www.physiciansolutions.com
U.S. OPTICAL BOARDS Alaska P.O. Box 110806 Juneau, AK 99811 (907)465-5470 http://www.commerce.state.ak.us/dnn/ cbpl/ProfessionalLicensing/DispensingOpticians.aspx Arizona 1400 W. Washington, Rm. 230 Phoenix, AZ 85007 (602)542-3095 http://www.do.az.gov Arkansas P.O. Box 627 Helena, AR 72342 (870)572-2847 California 2005 Evergreen St., Ste. 1200 Sacramento, CA 95815 (916)263-2382 http://www.optometry.ca.gov/ Colorado 1560 Broadway St. #1310 Denver, CO 80202 (303)894-7750 http://www.dora.state.co.us/optometry/ Connecticut 410 Capitol Ave., MS #12APP P.O. Box 340308 Hartford, CT 06134 (860)509-7603 ext. 4 http://www.ct.gov/dph/cwp/view. asp?a=3121&q=427586 Florida 4052 Bald Cypress Way, Bin C08 Tallahassee, FL 32399 (850)245-4474 http://www.pof.org/opticianry-board/ Georgia 237 Coliseum Dr. Macon, GA 31217 (478)207-1671 http://sos.ga.gov/index.php/licensing/ plb/20 Hawaii P.O. Box 3469 Honolulu, HI 96801 (808)586-2704 http://hawaii.gov/dcca/pvl/programs/ dispensingoptician/
Idaho 450 W. State St., 10th Floor Boise , ID 83720 (208)334-5500 http://www.ironforidaho.net/
Oregon 3218 Pringle Rd. SE Ste. 270 Salem, OR 97302 (503)373-7721 http://www.oregonobo.org/optque.htm
Kentucky P.O. Box 1360 Frankfurt, KY 40602 (502)564-3296 http://www.opticiantraining.org/optician-training-kentucky/
Rhode Island 3 Capitol Hill, Rm 104 Providence, RI 02908 (401)222-7883 http://sos.ri.gov/govdirectory/index. php? page=DetailDeptAgency&eid=260
Massachusetts 239 Causeway St. Boston, MA 02114 (617)727-5339 http://1.usa.gov/zbJVt7
South Carolina P.O. Box 11329 Columbia, SC 29211 (803)896-4665 www.llr.state.sc.us
Nevada P.O. Box 70503 Reno, NV 89570 (775)853-1421 http://nvbdo.state.nv.us/
Tennessee Heritage Place Metro Center 227 French Landing, Ste. 300 Nashville, TN 37243 (615)253-6061 http://tn.gov/health
New Hampshire 129 Pleasant St. Concord, NH 03301 (603)271-5590 www.state.nh.us New Jersey P.O. Box 45011 Newark, NJ 07101 (973)504-6435 http://www.njsop.org/aws/NJSOP/pt/sp/ home_page New York 89 Washington Ave., 2nd Floor W. Albany, NY 12234 (518)402-5944 http://www.op.nysed.gov/prof/od/ North Carolina P.O. Box 25336 Raleigh, NC 27611 (919)733-9321 http://www.ncoptometry.org/ Ohio 77 S. High St. Columbus, OH 43266 (614)466-9707 http://optical.ohio.gov/
Texas P.O. Box 149347 Austin, TX 78714 (512)834-6661 http://www.tob.state.tx.us/ Vermont National Life Bldg N FL. 2 Montpelier, VT 05620 (802)828-2191 http://vtprofessionals.org/opr1/ opticians/ Virginia 3600 W. Broad St. Richmond, VA 23230 (804)367-8500 http://www.dpor.virginia.gov/Boards/ HAS-Opticians/ Washington 300 SE Quince P.O. Box 47870 Olympia, WA 98504 (360)236-4947 http://www.doh.wa.gov/LicensesPermitsandCertificates/MedicalCommission. aspx
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U.S. DENTAL BOARDS Alabama Alabama Board of Dental Examiners 5346 Stadium Trace Pkwy., Ste. 112 Hoover, AL 35244 (205) 985-7267 http://www.dentalboard.org/ Alaska P.O. Box 110806 Juneau, AK 99811-0806 (907)465-2542 https://www.commerce.alaska.gov/web/ cbpl/ProfessionalLicensing/BoardofDentalExaminers.aspx Arizona 4205 N. 7th Ave. Suite 300 Phoenix, AZ 85103 (602)242-1492 http://azdentalboard.us/ Arkansas 101 E. Capitol Ave., Suite 111 Little Rock, AR 72201 (501)682-2085 http://www.asbde.org/ California 2005 Evergreen Street, Suite 1550Â Sacramento, CA 95815 877-729-7789 http://www.dbc.ca.gov/
Hawaii DCCA-PVL Att: Dental P.O. Box 3469 Honolulu, HI 96801 (808)586-3000 http://cca.hawaii.gov/pvl/boards/dentist/ Idaho P.O. Box 83720 Boise, ID 83720 (208)334-2369 http://isbd.idaho.gov/ Illinois 320 W. Washington St. Springfield, IL 62786 (217)785-0820 http://www.isds.org/LawsLegislation/ boardOfDentistry.asp Indiana 402 W. Washington St., Room W072 Indianapolis, IN 46204 (317)232-2980 http://www.in.gov/pla/dental.htm
Colorado 1560 Broadway, Suite 1350 Denver, CO 80202 (303)894-7800 https://www.colorado.gov/pacific/dora/ Dental_Board
Iowa 400 SW 8th St. Suite D Des Moines, IA 50309 (515)281-5157 http://www.state.ia.us/dentalboard/
Connecticut 410 Capitol Ave. Hartford, CT 06134 (860)509-8000 http://www.ct.gov/dph/cwp/view. asp?a=3143&q=388884
Kansas 900 SW Jackson Room 564-S Topeka, KS 66612 (785)296-6400 http://www.dental.ks.gov/
Delaware Cannon Building, Suite 203 861 Solver Lake Blvd. Dover, DE 19904 (302)744-4500 http://1.usa.gov/t0mbWZ
Kentucky 312 Whittington Parkway, Suite 101 Louisville, KY 40222 (502)429-7280 http://dentistry.ky.gov/
Florida 4052 Bald Cypress Way Bin C-08 Tallahassee, FL 32399 (850)245-4474 http://floridasdentistry.gov/ 18
Georgia 237 Coliseum Drive Macon, GA 31217 (478)207-2440 https://gbd.georgia.gov/
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Louisiana 365 Canal St., Suite 2680 New Orleans, LA 70130 (504)568-8574 http://dentistry.ky.gov/
Maine 143 State House Station 161 Capitol St. Augusta, ME 04333 (207)287-3333 http://www.mainedental.org/ Maryland 55 Wade Ave. Catonsville, Maryland 21228 (410)402-8500 http://dhmh.state.md.us/dental/ Massachusetts 1000 Washington St., Suite 710 Boston, MA 02118 (617)727-1944 http://www.mass.gov/eohhs/gov/departments/dph/programs/hcq/dhpl/ dentist/about/ Michigan P.O. Box 30664 Lansing, MI 48909 (517)241-2650 http://www.michigan.gov/lara/0,4601,7154-72600_72603_27529_27533---,00. html Minnesota 2829 University Ave., SE. Suite 450 Minneapolis, MN 55414 (612)617-2250 http://www.dentalboard.state.mn.us/ Mississippi 600 E. Amite St., Suite 100 Jackson, MS 39201 (601)944-9622 http://bit.ly/uuXKxl Missouri 3605 Missouri Blvd. P.O. Box 1367 Jefferson City, MO 65102 (573)751-0040 http://pr.mo.gov/dental.asp Montana P.O. Box 200113 Helena, MT 59620 (406)444-2511 http://bsd.dli.mt.gov/license/bsd_ boards/den_board/board_page.asp
Nebraska 301 Centennial Mall South Lincoln, NE 68509 (402)471-3121 http://dhhs.ne.gov/publichealth/Pages/ crl_medical_dent_hygiene_board.aspx
Ohio Riffe Center 77 S. High St.,17th Floor Columbus, OH 43215 (614)466-2580 http://www.dental.ohio.gov/
Nevada 6010 S. Rainbow Blvd. Suite A-1 Las Vegas, NV 89118 (702)486-7044 http://www.nvdentalboard.nv.gov/
Oklahoma 201 N.E. 38th Terr., #2 Oklahoma City, OK 73105 (405)524-9037 http://www.ok.gov/dentistry/
New Hampshire 2 Industrial Park Dr. Concord, NH 03301 (603)271-4561 http://www.nh.gov/dental/
Oregon 1600 SW 4th Ave. Suite 770 Portland, OR 97201 (971)673-3200 http://www.oregon.gov/Dentistry/
New Jersey P.O Box 45005 Newark, NJ 07101 (973)504-6405 http://njpublicsafety.com/ca/dentistry/
Pennsylvania P.O. Box 2649 Harrisburg, PA 17105 (717)783-7162 http://www.dos.pa.gov/ProfessionalLicensing/BoardsCommissions/Dentistry/ Pages/default.aspx#.VbkfjPlPVYU
New Mexico Toney Anaya Building 2550 Cerrillos Rd. Santa Fe, NM 87505 (505)476-4680 http://www.rld.state.nm.us/boards/Dental_Health_Care.aspx New York 89 Washington Ave. Albany, NY 12234 (518)474-3817 http://www.op.nysed.gov/prof/dent/ North Carolina 507 Airport Blvd., Suite 105 Morrisville, NC 27560 (919)678-8223 http://www.ncdentalboard.org/ North Dakota P.O. Box 7246 Bismark, ND 58507 (701)258-8600 http://www.nddentalboard.org/
Rhode Island Dept. of Health Three Capitol Hill, Room 104 Providence, RI 02908 (401)222-2828 http://1.usa.gov/u66MaB South Carolina P.O. Box 11329 Columbia, SC 29211 (803)896-4599 http://www.llr.state.sc.us/POL/Dentistry/ South Dakota P.O. Box 1079 105. S. Euclid Ave. Suite C Pierre, SC 57501 (605)224-1282 https://www.sdboardofdentistry.com/ Tennessee 227 French Landing, Suite 300 Nashville, TN 37243 (615)532-3202 http://tn.gov/health
Texas 333 Guadeloupe St. Suite 3-800 Austin, TX 78701 (512)463-6400 http://www.tsbde.state.tx.us/ Utah 160 E. 300 South Salt Lake City, UT 84111 (801)530-6628 http://1.usa.gov/xMVXWm Vermont National Life Building North FL2 Montpelier, VT 05620 (802)828-1505 http://governor.vermont.gov/boards_ and_commissions/dental_examiners Virginia Perimeter Center 9960 Maryland Dr., Suite 300 Henrico, VA 23233 (804)367-4538 http://www.dhp.virginia.gov/dentistry Washington 310 Israel Rd. SE P.O. Box 47865 Olympia, WA 98504 (360)236-4700 http://www.doh.wa.gov/LicensesPermitsandCertificates/ProfessionsNewReneworUpdate/Dentist.aspx West Virginia 1319 Robert C. Byrd Dr. P.O. Box 1447 Crab Orchard, WV 25827 1-877-914-8266 http://www.wvdentalboard.org/ Wisconsin P.O. Box 8935 Madison, WI 53708 1(877)617-1565 http://dsps.wi.gov/Default. aspx?Page=90c5523f-bab0-4a45-ab943d9f699d4eb5 Wyoming 1800 Carey Ave., 4th Floor Cheyenne, WY 82002 (307)777-6529 http://plboards.state.wy.us/dental/index.asp
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U.S. MEDICAL BOARDS Alabama P.O. Box 946 Montgomery, AL 36101 (334)242-4116 http://www.albme.org/ Alaska 550 West 7th Ave., Suite 1500 Anchorage, AK 99501 (907)269-8163 http://www.medlicense.com/alaskamedical-license.html Arizona 9545 E. Doubletree Ranch Rd. Scottsdale, AZ 85258 (480)551-2700 http://www.azmd.gov Arkansas 1401 West Capitol Ave., Suite 340 Little Rock, AR 72201 (501)296-1802 http://www.armedicalboard.org/ California 2005 Evergreen St., Suite 1200 Sacramento, CA 95815 (916)263-2382 http://www.mbc.ca.gov/ Colorado 1560 Broadway, Suite 1350 Denver, CO 80202 (303)894-7690 http://www.dora.state.co.us/medical/ Connecticut 401 Capitol Ave. Hartford, CT 06134 (860)509-8000 http://www.ct.gov/dph/cwp/view. asp?a=3143&q=388902 Delaware Division of Professional Regulation Cannon Building 861 Silver Lake Blvd., Suite 203 Dover, DE 19904 (302)744-4500 http://dpr.delaware.gov/ District of Columbia 899 North Capitol St., NE Washington, DC 20002 (202)442-5955 http://doh.dc.gov/bomed 20
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Florida 2585 Merchants Row Blvd. Tallahassee, FL 32399 (850)245-4444 http://www.stateofflorida.com/Portal/ DesktopDefault.aspx?tabid=115
Louisiana LSBME P.O. Box 30250 New Orleans, LA 70190 (504)568-6820 http://www.lsbme.la.gov/
Georgia 2 Peachtree Street NW, 36th Floor Atlanta, GA 30303 (404)656-3913 http://bit.ly/vPJQyG
Maine 161 Capitol Street 137 State House Station Augusta, ME 04333 (207)287-3601 http://www.maine.gov/md/
Hawaii DCCA-PVL P.O. Box 3469 Honolulu, HI 96801 (808)587-3295 http://hawaii.gov/dcca/pvl/boards/medical/
Maryland 4201 Patterson Ave. Baltimore, MD 21215 (410)764-4777 http://www.mbp.state.md.us/
Idaho Idaho Board of Medicine P.O. Box 83720 Boise, Idaho 83720 (208)327-7000 http://bit.ly/orPmFU
Massachusetts 200 Harvard Mill Sq., Suite 330 Wakefield, MA 01880 (781)876-8200 http://www.mass.gov/eohhs/gov/departments/borim/
Illinois 320 West Washington St. Springfield, IL 62786 (217)785 -0820 http://www.idfpr.com/
Michigan Bureau of Health Professions P.O. Box 30670 Lansing, MI 48909 (517)335-0918 http://michigan.gov/lara/0,4601,7-15472600_72603_27529_27541-58914--,00. html
Indiana 402 W. Washington St. #W072 Indianapolis, IN 46204 (317)233-0800 http://www.in.gov/pla/ Iowa 400 SW 8th St., Suite C Des Moines, IA 50309 (515)281-6641 http://medicalboard.iowa.gov/ Kansas 800 SW Jackson, Lower Level, Suite A Topeka, KS 66612 (785)296-7413 http://www.ksbha.org/ Kentucky 310 Whittington Pkwy., Suite 1B Louisville, KY 40222 (502)429-7150 http://kbml.ky.gov/Pages/default.aspx
Minnesota University Park Plaza 2829 University Ave. SE, Suite 500 Minneapolis, MN 55414 (612)617-2130 http://bit.ly/pAFXGq Mississippi 1867 Crane Ridge Drive, Suite 200-B Jackson, MS 39216 (601)987-3079 http://www.msbml.state.ms.us/ Missouri Missouri Division of Professional Registration 3605 Missouri Blvd. P.O. Box 1335 Jefferson City, MO 65102 (573)751-0293 http://pr.mo.gov/healingarts.asp
Montana 301 S. Park Ave. #430 Helena, MT 59601 (406)841-2300 http://bsd.dli.mt.gov/license/bsd_ boards/med_board/board_page.asp Nebraska Nebraska Department of Health and Human Services P.O. Box 95026 Lincoln, NE 68509 (402)471-3121 https://www.nebraska.gov/LISSearch/ search.cgi Nevada Board of Medical Examiners P.O. Box 7238 Reno, NV 89510 (775)688-2559 http://www.medboard.nv.gov/ New Hampshire New Hampshire State Board of Medicine 2 Industrial Park Dr. #8 Concord, NH 03301 (603)271-1203 http://www.nh.gov/medicine/ New Jersey P. O. Box 360 Trenton, NJ 08625 (609)292-7837 http://www.medlicense.com/new-jerseymedical-license.html New Mexico 2055 S. Pacheco St. Building 400 Santa Fe, NM 87505 (505)476-7220 http://www.nmmb.state.nm.us/ New York Office of the Professions State Education Building, 2nd Floor Albany, NY 12234 (518)474-3817 http://www.op.nysed.gov/ North Carolina P.O. Box 20007 Raleigh, NC 27619 (919)326-1100 http://www.ncmedboard.org/
North Dakota 418 E. Broadway Ave., Suite 12 Bismarck, ND 58501 (701)328-6500 http://www.ndbomex.com/
Texas P.O. Box 2018 Austin, TX 78768 (512)305-7010 http://www.tmb.state.tx.us/
Ohio 30 E. Broad St., 3rd Floor Columbus, OH 43215 (614)466-3934 http://med.ohio.gov/
Utah P.O. Box 146741 Salt Lake City, UT 84114 (801)530-6628 http://www.dopl.utah.gov/licensing/physician_surgeon.html
Oklahoma P.O. Box 18256 Oklahoma City, OK 73154 (405)962-1400 http://www.okmedicalboard.org/ Oregon 1500 SW 1st Ave., Suite 620 Portland, OR 97201 (971)673-2700 http://www.oregon.gov/OMB/ Pennsylvania P.O. Box 2649 Harrisburg, PA 17105 (717)787-8503 http://www.dos.pa.gov/ProfessionalLicensing/BoardsCommissions/Medicine/ Pages/default.aspx#.Vbkgf_lPVYU Rhode Island 3 Capitol Hill Providence, RI 02908 (401)222-5960 http://1.usa.gov/xgocXV South Carolina P.O. Box 11289 Columbia, SC 29211 (803)896-4500 http://www.llr.state.sc.us/pol/medical/ South Dakota 101 N. Main Ave. Suite 301 Sioux Falls, SD 57104 (605)367-7781 http://www.sdbmoe.gov/ Tennessee 425 5th Ave. North Cordell Hull Bldg. 3rd Floor Nashville, TN 37243 (615)741-3111 http://tn.gov/health
Vermont P.O. Box 70 Burlington, VT 05402 (802)657-4220 http://1.usa.gov/wMdnxh Virginia Virginia Dept. of Health Professions Perimeter Center 9960 Maryland Dr., Suite 300 Henrico, VA 23233 (804)367-4400 http://1.usa.gov/xjfJXK Washington Public Health Systems Development Washington State Department of Health 101 Israel Rd. SE, MS 47890 Tumwater, WA 98501 (360)236-4085 http://www.medlicense.com/washingtonmedicallicense.html West Virginia 101 Dee Dr., Suite 103 Charleston, WV 25311 (304)558-2921 http://www.wvbom.wv.gov/ Wisconsin P.O. Box 8935 Madison, WI 53708 (877)617-1565 http://dsps.wi.gov/Boards-Councils/ Board-Pages/Medical-Examining-BoardMain-Page/ Wyoming 320 W. 25th St., Suite 200 Cheyenne, WY 82002 (307)778-7053 http://wyomedboard.state.wy.us/
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features
How to Increase Dental Practice Revenue in a Competitive Market
T
he market for dental healthcare services has changed considerably in the last few years. While dentists with their own private setup are free to manage both the business and management aspects of their practice, they have to deal with steep rise in dental costs and stringent regulatory policies that require substantial financial investments. Another worrying aspect for most dental practices is the drop in reimbursements which can impact revenue for most dental practices. The pressure of running a private dental practice in the present day economy is immense. Other industries easily offset the rise in costs by passing it on to their consumers. However, healthcare practices cannot do the same. As a result, a large majority of dental practices today are reeling under revenue losses or facing financial stagnation. This is one of the reasons why the younger
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By Naren Arulrajah with Vikas Vij Ekwa Marketing dentists prefer a salaried position with either multispecialty practices or with corporate healthcare groups.
Regulatory Compliance and New Technology Adoption Dental practices are also under pressure to comply with meaningful use via adoption of electronic health records. However, most dental practices have been slow on the pick-up primarily due to lack of federal financial incentives for adoption of EHR technologies. There is also pressure to implement new work-flow processes, tools and safeguards in light of HIPAA Privacy requirements, as well as “Security and Breach Notification� requirements and applicable state laws. These are necessary to ensure safety of patient records when continuing care records are
exchanged with other healthcare practitioners for referral purposes. Financial pressures in the form of changing reimbursement models; rise in costs associated with running a fully functional dental office, as well as increase in legal fees for drafting of HIPAA business associate agreements with vendors are again expenses that place practices under immense financial strain. However, in spite of these financial pressures, there is much that dental practices can do to increase revenue. Cutting costs is one. Other strategies that can help include the following.
Strategies for Increasing Dental Revenue Plan a Budget Dental practices that are serious about budget allocations are the ones with the most potential to
increase revenue. The reason why budgets are so crucial to practice success is because it provides a scale for comparing between budget figures and actual dollars spent. This kind of financial assessment is vital if you want to see where your practice stands and for easy identification of problem areas and for planning and implementing corrective course of action. Budgeting is made more relevant when practices can work on a 5-year projection for revenue and expenses. Not only does this allow creation of a more realistic practice budget, but more importantly it allows practices to both plan and implement workable production goals and to avoid any unforeseen financial risks. Look for New Channels of Revenue Addition of new services and treatment options is definitely an important strategy for increasing practice revenue. In addition consider the following; • Implementation of new technology to optimize treatment or for streamlining administrative tasks and responsibilities. • Employing a new dentist or mid-level/nurse practitioners to manage routine care services. • Consider joint ventures if they can help you generate new revenue opportunities. Plan for New Care Delivery Models Today there is greater advocacy for dropping the fee-for-service reimbursement models in favor of new care delivery models such as patient-centered medical homes and accountable care organizations. This means dental practices will continued on page 24 MED MONTHLY MAGAZINE
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have to make structural changes to align their practice with the new care delivery models to stay competitive and relevant. Keep the following in mind; • Implement better finance and accounting functions. • Implement better systems to measure performance against practice goals of - meeting budgets and maintaining quality of care standards. • Update contracts. • Make use of data and analytic tools to improve understanding of healthcare quality measurements and overall costs. • Ensure greater flexibility in billing and collections. Focus on the Right Kind of Patients One of the most effective ways
of increasing practice profits is by focusing on the right kind of patients. Making room for more commercial patients can lead to an increase in your practice income. Obviously, this will require that you cut down on some of your regular but low-income patients. When running a practice it is important to balance your patient mix by focusing more on patients who can make an impact to your bottom line. This is where digital marketing can play a big role as it allows practices to channel their marketing in a way that attracts patients who are ready to engage and convert quickly.
Conclusion
Running a profitable practice is a big challenge for dental practices. In the midst of business and marketing changes as well as changes in oral healthcare regulations, dental
practices need to pick up the pace with their business planning. They also need to adopt a more flexible approach to running their practice if they want to avoid revenue stagnation. About the Author: Naren Arulrajah is President and CEO of Ekwa Marketing, a complete Internet marketing company which focuses on SEO, social media, marketing education and the online reputations of Dentists and Physicians. With a team of 140+ full time marketers, www.ekwa.com helps doctors who know where they want to go get there by dominating their market and growing their business significantly year after year. If you have questions about marketing your practice online, call 855 598-3320 to speak one-on-one with Naren.
features
Electronic Health: An Income Resource to Consider
By Barbara Hales, M.D. www.thewritetreatment.com Have you ever considered leveraging your electronic health data as a new source of income? A study published in CMR International R&D (Benchmarking for Efficient Drug Development) reported that almost 50% of trial process time is spent on patient recruitment. Challenges that the bio-medical industry faces involve the availability or recruitment of participants for their clinical trials that meet the criteria as well as the expense of aggregating clinical trial data in the quest for bringing new drugs to market.
1) Connecting Electronic Health Records to Clinical Trials Drug companies post information on their clinical 26
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trials, including eligibility for participants in the trials. If you see a patient match to the selection criteria, you can now complete a screening within moments by getting any additional data needed, recording the information in the electronic health record and transmitting the data to the investigational entity. You, as a healthcare provider, have the ability to search the electronic database with a simple query to identify possible candidates eligible for a particular trial. Criteria results could be easily accessed.
ADDED INCOME OPPORTUNITIES With adoption of an electronic medical record system in your practice, a vast opportunity arises for added revenue that your practice can generate.
According to the Research and Development Department of Greenway Medical, studies conservatively demonstrate that a solo practitioner can generate up to $100,000 annually with no additional expense. Other studies reflect up to $700,000 additional income for a 2-provider family practice annually. PricewaterhouseCoopers reported that EMR data will be the most valuable commodity in any healthcare office. Data will enable participation in clinical trials, studies and registries, facilitating revenue generation. The thing is, when your patients have unusual symptoms or a rare medical condition, they often look to participate in clinical studies. They may not have had relief of their discomfort or feel that not enough is currently being done. This presents an alternative for them and additional tests or exams will then be done without their expense.
2) Telehealth Presents New Revenue Stream for Physicians With a computer and Internet connection, you as a doctor can join a telehealth group (e.g. Teledoc) anywhere, be it at home, office, on vacation. You see to a patient’s needs online and get paid a specific amount of money, which is paid directly into your account two weeks later. No need to worry about third party reimbursements or discounted bundling for services rendered. Patients are happy to receive care this way because of the convenience. Likewise, physicians are happy to give care in this manner. It’s a symbiotic relationship where both parties are happy. The thing is, it is a great way to: • Maximize your time (decreasing travel to the patient) • Providing a wider, sought service • Diversifying revenue stream • Taking Insurance payers out of the equation • Keying into highly demanded services (making you further in demand)
3) Telemed Improves Care, Boosts Revenue Decreasing Practice Expense
the daily process of caring for patients. According to the CEO of American Telemedicine Association, Jonathan Linkous, “Telemed changes the way that doctors do business. Doctors can install automation services for tasks like getting and processing patient vital signs and allowing patients to access their lab results via phone or digitally”. He added “The return on investment (ROI) is the big savings on staffing costs because doctors won’t have to pay a nurse to take patients’ vital signs and enter that data into the practice’s system. While physicians on the whole haven’t figured out the benefits of using telemed, some, mostly n metropolitan areas, are starting to use these services to streamline care delivery, which increases convenience for patients and can be a real competitive edge.” Think about it for a moment. Fitbit and other smart devices are becoming mainstream now. It could be you that helps make sense of all the data that is being collected! Is your competition doing that? Unlikely!
The Write Treatment
Ezines and NewslettersCost Effective Powerful Tools • Drive traffic to your business website • Build relationships between yourself and patients • Get new patients • Announce a new service or product • Give great impact Have you got a newsletter yet or want to spread a message? Contact Barbara Hales, M.D. for a free consultation. Barbara@TheWriteTreatment.com 516-647-3002
Telemed is the technology that provides increased efficiencies within the medical practice. It streamlines
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features
Are E-Prescriptions Right For Your Practice? By Thomas Hibbard Creative Director, Med Monthly It is estimated that approximately 7,000 deaths occur each year in the United States due to medication errors. These errors are predominately due to handwriting illegibility, wrong dosing, missed drug-drug or drug-allergy reactions. With approximately 3 billion prescriptions written annually, which constitutes one of the largest paper-based processes in the United States, the writing of prescriptions can be streamlined and efficient by using 28
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an e-prescribing system. Electronic prescribing or e-prescribing (e-Rx) is the computer-based electronic transmission and filling of a medical prescription, taking the place of paper and faxed prescriptions. E-prescribing allows a physician, nurse practitioner, or physician assistant to electronically transmit a new prescription or renewal authorization to a local or mail-order pharmacy. It has the ability to send error-free, accurate,
and understandable prescriptions electronically from the healthcare provider to the pharmacy. E-prescribing is meant to reduce the risks associated with traditional prescription script writing. It is also one of the major reasons for the push for electronic health records (EHR). Small and mid-size practices are leading the way, making up a sizeable chunk of the 58% of physicians using e-prescribing tools outside of the hospital.1
Do E-prescriptions Actually Improve Patient Health? According to a study by Surescripts, e-prescribing is linked to an increase in first-fill medication adherence and health care savings that could lead to $140 to $240 billion in health care savings and improved health outcomes over the next ten years. Physicians adopting e-prescribing wrote out nearly 40% of their prescriptions electronically. This resulted in a 10% increase in patient first-fill medication adherence, which translates to fewer doctor visits and reduced risk of hospitalization. When taking into account the 60/40 ratio of paper-toelectronic prescriptions, the study demonstrated prescription delivery rates rising to 81.8%, and 76.5% getting picked up. This is encouraging, considering how many prescriptions never make it to a pharmacy counter.2
Benefits The benefits of e-prescribing to both patients and clinicians include: l Improving patient safety and quality of care - Illegibility from handwritten prescriptions is eliminated, decreasing the risk of medication errors while simultaneously decreasing risks related to liability. Oral miscommunications regarding prescriptions can be reduced, as e-prescribing should decrease the need for phone calls between prescribers and dispensers. Electronic
prescribing has the potential to eliminate most of these types of errors. Warning and alert systems are provided at the point of care. E-prescribing systems can enhance an overall medication management process through clinical decision support systems that can perform checks against the patient’s current medications for drug-drug interactions, drug-allergy interactions, diagnoses, body weight, age, drug appropriateness, and correct dosing. Based on these algorithms, the system can alert prescribers to contradictions, adverse reactions, duplicate therapies and flag lethal dosages and lethal combinations of drugs. l Reducing time spent on phone calls and call-backs to pharmacies - According to estimates, almost 30 percent of prescriptions require pharmacy callbacks. E-prescribing can significantly reduce the volume of pharmacy callbacks related to illegibility, mistaken prescription choices, formulary and pharmacy benefits, decreasing the amount of time wasted on the phone. This ultimately impacts office workflow efficiency and overall productivity in a positive manner. l Reducing time spent faxing prescriptions to pharmacies - Both prescribers and pharmacists can save time and resources spent on faxing prescriptions through a reduction in labor costs, handling costs, and paper expenses waste due to unreliability.
l Automating the prescription renewal request and authorization process With e-prescribing, renewal authorization can be an automated process that provides efficiencies for both the prescriber and pharmacist. With limited resource utilization and just a few clicks on behalf of the prescriber, they can complete a medication renewal task while enhancing continuous patient documentation. l Increasing patient convenience and medication compliance - It is estimated that 20% of paper-based prescription orders go unfilled by the patient, partly due to the hassle of dropping off a paper prescription and waiting for it to be filled. By eliminating or reducing this waiting period, e-prescribing may help reduce the number of unfilled prescriptions and hence, increasing medication compliance. l Improving formulary adherence permits lower cost drug substitutions - By checking with the patient’s health plan or insurance coverage at the point of care, generic substitutions or lower cost therapeutic alternatives can be encouraged to help reduce patient costs. Lower costs may also help improve patient compliance. l Allowing greater prescriber mobility - Improved prescriber convenience can be achieved when using mobile devices that work on a wireless network, to write and renew prescriptions. Such mobile devices may include laptops, PDA’s, tablet continued on page 30 MED MONTHLY MAGAZINE
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computers, or mobile phones. This freedom of mobility allows prescribers to write/renew prescriptions anywhere, even when not in the office.
Challenges and Limitations Challenges and limitations that may hinder the widespread adoption of e-prescribing practices are: l Financial Cost and Return on Investment (ROI) - The costs associated with purchasing, implementing, training staff and maintaining such a system may be beyond the means of small clinical practices, and is noted to be one of the greatest implementation barriers. As a result, large urban areas (large practices) may see the greatest ROI when compared to those in rural or inner city locations (small practices). l Change Management Many underestimate the challenges pertaining to change management when transitioning from paper-based prescriptions to e-prescribing. This is especially true in busy practices where health care providers and associated staff are accustomed to their current management system. Staff accustomed to certain work practices may have particular aversions to the technology, so it may be difficult to get everyone on board immediately when introducing such a dramatic change. l Hardware and Software Selection - Choosing the right hardware platform and software 30
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applications can be a rather daunting task for practices, especially in regards to small and busy settings. Initiatives must be put into place to allow for effective and strategic planning prior to adoption. l Integrity of data input Accidental data entry errors such as selecting the wrong patient or clicking on the wrong choice in a menu of dosages may occur. Software vendors should continually review user feedback and follow best practices in user interface design. l Security and Privacy - As with many eHealth solutions, privacy of patient information stored in electronic format may lead to the possibility of novel errors, such as inadvertently divulging protected health information on the internet through inadequate security practices. Instances of negligence may also arise, where employees may forward prescriptions to organizations outside its intended use. Therefore, hospitals, practices and pharmacies should be protected with firewalls, use strict computer permission settings, and remain vigilant toward signs of an intrusion. l System Downtime - Periods of system downtime may arise, either due to network-related issues, hardware failure, or loss of electricity. The inability to use electronic prescribing when the system is not accessible is of great concern, and must be addressed with the discussion of fall-back procedures and mechanisms when such situations arise.3
How to Get Your Practice Started l Purchase hardware such as desktop PC’s, laptops, pocket PC’s, tablet PC’s , PDA’s utilizing a wired or wireless network. l Install an internet connection; high speed is highly recommended. l Decide whether you wish to choose a stand-alone e-prescription software or a full EMR system which includes e-prescribing functionality. l Choose an e-prescribing software vendor. The e-prescribing vendor will need to utilize a company which supplies the electronic prescribing network (hub or gateway for transmissions). There are several e-prescription networking companies. Among the industry leaders are SureScripts (http://surescripts. com/) and Practice Fusion (http://www.practicefusion.com/ e-prescribing/).
In Conclusion E-prescriptions not only fulfill Meaningful Use requirements, but it’s clear that they help reduce or prevent errors. They can aid in making your practice more organized and save your practice money. E-prescriptions assist your patients to adhere to their medication regimen, contributing to their improved health and satisfaction. References: 1 http://www.poweryourpractice.com/ do-eprescriptions-actually-improve-
patient-health/ 2 http://www.poweryourpractice.com/ eprescribing-could-save-health-carebillions/ 3 http://en.wikipedia.org/wiki/Electronic_ prescribing
THINKING ABOUT SELLING YOUR PRACTICE?
Medical Practice Listings can help you sell your practice online! Now offering two types of listings to better serve all practice specialties and budgets. For Sale by Owner Listing The For Sale by Owner Listing offers you the opportunity to gain national exposure by posting your listing on our website which is viewed daily by a network of qualified professionals. This option includes a brief practice consultation to explain the benefits of marketing through the Medical Practice Listings website. Our special rate for the For Sale by Owner listing through the end of 2015 is only $29.95 per month.
Professional Listing In addition to the benefits in the standard listing our Professional Listing affords you access to services provided by our expert legal and marketing team and a Bizscore Practice Valuation. This valuation compares your practice with other practices in your area, provides projections and determines what your practice is worth.
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919.848.4202 | medicalpracticelistings.com
Practices for Sale Medical Practices Pediatric Practice Near Raleigh, NC
Location: Minutes South of Raleigh, North Carolina List Price: $145,000 Gross Yearly Income: $350,000 Year Established: 1980(s) Average Patients per Day: 16-22 Total Exam Rooms: 5 Building Owned/Leased: Owned. Will sell or lease. Contact: Philip or Wendy at (919) 848-4202
Urology Practice near Lake Norman, NC Location: Minutes from Charlotte, NC List Price: $165,000 Gross Yearly Income: $275,000 Year Established: 1980 Average Patients per Day: 12 to 15 Building Owned/Leased: Leased Contact: Philip or Wendy at (919) 848-4202
Primary Care specializing in Women’s Practice
Family Practice/Primary Care
Location: Hickory, North Carolina List Price: $425,000 Gross Yearly Income: $1,5000,000 Year Established: 2007 Average Patients Per Day: 24-35 Total Exam Rooms: 5 Building Owned/Leased: Lease or Purchase Contact: Philip or Wendy at (919) 848-4202
Location: Morehead City, N.C. List Price: Just reduced to $20,000 or Best Offer Gross Yearly Income: $540,000 average for past 3 years Year Established: 2005 Average Patients per Day: 12 to 22 Building Owned/Leased: MD owned and can be leased or purchased Contact: Philip or Wendy at (919) 848-4202
Med Spa
Family Primary Care Practice
Practice Type: Mental Health, Neuropsychological and Psychological
Location: Minutes East of Raleigh, North Carolina List Price: $15,000 or Best Offer Gross Yearly Income: $235,000 Average Patients per Day: 8 to 12 Total Exam Rooms: 6 Physician retiring, Beautiful practice Building Owned/Leased: Owned (For Sale or Lease) Contact: Philip or Wendy at (919) 848-4202
Location: Coastal North Carolina List Price: $550,000 Gross Yearly Income: $1,600,000.00 Year Established: 2005 Average Patients Per Day: 25 to 30 Total Exam Rooms: 4 Building Owned/Leased: Leased Contact: Philip or Wendy at (919) 848-4202
Location: Wilmington, NC List Price: $110,000 Gross Yearly Income: $144,000 Year Established: 2000 Average Patients Per Day: 8 Building Owned/Leased/Price: Owned Contact: Philip or Wendy at (919) 848-4202
Special Listings Offer We are offering our “For Sale By Owner” package at a special rate. With a 6 month agreement, you receive 3 months free.
Considering your practice options? Call us today. 32
| OCTOBER 2016
Practice for Sale in Raleigh, NC
State of Cha-Ching.
Primary care practice specializing in women’s care Raleigh, North Carolina The owning physician is willing to continue with the practice for a reasonable time to assist with smooth ownership transfer. The patient load is 35 to 40 patients per day, however, that could double with a second provider. Exceptional cash flow and profit will surprise even the most optimistic practice seeker. This is a remarkable opportunity to purchase a well-established woman’s practice. Spacious practice with several well-appointed exam rooms and beautifully decorated throughout. New computers and medical management software add to this modern front desk environment. List price: $435,000
Call Medical Practice Listings at (919) 848-4202 for details and to view our other listings visit www.medicalpracticelistings.com
Lindsay Gianni, Agent 12333 Strickland Road Suite 106 Raleigh, NC 27613 Bus: 919-329-2913 lindsay.gianni.f23o@statefarm.com
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Eastern North Carolina Family Practice Available Well-appointed Eastern North Carolina Family Practice established in 2000 is for sale in Williamston, NC. This organized practice boasts a wide array of diagnostic equipment including a GE DEXA scanner with a new tube, GE case 8000 stress testing treadmill and controller and back up treadmill, Autoclave and full set of operating equipment, EKG-Ez EKG and much more. The average number of patients seen daily is between 12 to 22. The building is owned by MD and can be purchased or leased. The owning physician is relocating and will assist as needed during the transition period. The gross receipts for the past three years average $650,000 and the list price was just reduced to $185,000. If you are looking to purchase a well equipped primary care practice, please contact us today. 919-848-4202 medlisting@gmail.com medicalpracticelistings.com
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Internal Medicine Practice for Sale Located in the heart of the medical community in Cary, North Carolina, this Internal Medicine practice is accepting most private and government insurance payments. The average patients per day is 20-25+, and the gross yearly income is $555,000. Listing Price: $430,000
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Call 919-848-4202 or e-mail medlistings@gmail.com www.medicalpracticelistings.com
November - Doctor-Patient Relationship; Boundary Crossings December - Practice Management
NC MedSpa For Sale
Pediatric Practice Available Near Raleigh, NC
MedSpa Located in North Carolina We have recently listed a MedSpa in NC This established practice has staff MDs, PAs and nurses to assist patients. Some of the procedures performed include: Botox, Dysport, Restylane, Perian, Juvederm, Radiesse, IPL Photoreju Venation, fractional laser resurfacing as well as customized facials. There are too many procedures to mention in this very upscale practice. The qualified buyer will be impressed with the $900,000 gross revenue. This is a new listing, and we are in the valuation process. Contact Medical Practice Listings today to discuss the practice details.
Pediatric practice located minutes south of Raleigh, North Carolina is now listed for sale. Located in an excellent area convenient to Raleigh, Cary, and Durham, it is surrounded by a strong health care community. This is a well established practice with a very solid patient base. The building is equipped with a private doctor’s office, five exam rooms, and an in-house lab.
Established: 1980s l Gross Yearly Income: $350,000 Average Patients per Day: 16 to 22 l List Price: $145,000
For more information call Medical Practice Listings at 919-848-4202 or e-mail medlistings@gmail.com
www.medicalpracticelistings.com 34 | OCTOBER 2016
Call 919-848-4202 or e-mail medlistings@gmail.com www.medicalpracticelistings.com
PHYSICIANS NEEDED: Mental health facility in Eastern North Carolina seeks: PA/FT ongoing, start immediately Physician Assistant needed to work with physicians to provide primary care for resident patients. FT ongoing 8a-5p. Limited inpatient call is required. The position is responsible for performing history and physicals of patients on admission, annual physicals, dictate discharge summaries, sick call on unit assigned, suture minor lacerations, prescribe medications and order lab work. Works 8 hour shifts Monday through Friday with some extended work on rotating basis required. It is a 24 hour in-patient facility that serves adolescent, adult and geriatric patients. FT ongoing Medical Director, start immediately The Director of Medical Services is responsible for ensuring all patients receive quality medical care. The director supervises medical physicians and physician extenders. The Director of Medical Services also provides guidance to the following service areas: Dental Clinic, X-Ray Department, Laboratory Services, Infection Control, Speech/Language Services, Employee Health,
Pharmacy Department, Physical Therapy and Telemedicine. The Medical Director reports directly to the Clinical Director. The position will manage and participate in direct patient care as required; maintain and participate in an on-call schedule ensuring that a physician is always available to hospitalized patients; and maintain privileges of medical staff. Permanent Psychiatrist needed FT, start immediately An accredited State Psychiatric Hospital serving the eastern region of North Carolina, is recruiting for permanent full-time Psychiatrist. The 24 hour in-patient facility serves adolescent, adult and geriatric patients. The psychiatrist will serve as a team leader for multi-disciplinary team to ensure quality patient care/treatment. Responsibilities include:
evaluation of patient on admission and development of a comprehensive treatment plan, serve on medical staff committees, complete court papers, documentation of patient progress in medical record, education of patients/families, provision of educational groups for patients.
Send copies of your CV, NC medical license, DEA certificate and NPI certificate with number to Physician Solutions for immediate consideration. Physician Solutions, P.O. Box 98313, Raleigh, NC 27624 PH: (919) 845-0054 | email: physiciansolutions@gmail.com
MD STAFFING AGENCY FOR SALE IN NORTH CAROLINA The perfect opportunity for anyone who wants to purchase an established business.
Primary Care Practice For Sale in Wilmington, NC Established primary care on the coast of North Carolina’s beautiful beaches. Fully staffed with MD’s and PA’s to treat both appointment and walk-in patients. Excellent exam room layout, equipment and visibility. Contact Medical Practice Listings for more information.
l One
of the oldest Locums companies client list l Dozens of MDs under contract l Executive office setting l Modern computers and equipment l Revenue over a million per year l Retiring owner l Large
Medical Practice Listings
Please direct all correspondence to driverphilip@gmail.com. Only serious, qualified inquirers.
919.848.4202 | medlistings@gmail.com www.medicalpracticelistings.com MED MONTHLY MAGAZINE
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Modern Med Spa Available
Located in beautiful coastal North Carolina Modern, well-appointed med spa is available in the eastern part of the state. This Spa specializes in BOTOX, facial therapy and treatments, laser hair removal, eye lash extensions and body waxing as well as a menu of anti-aging options. This impressive practice is perfect as-is and can accommodate additional services like primary health or dermatology. The Gross revenue is over $1,500.000 with consistent high revenue numbers for the past several years. The average number of patients seen daily is between 26 and 32 with room for improvement. You will find this Med Spa to be in a highly visible location with upscale amenities. The building is leased and the lease can be assigned or restructured. Highly profitable and organized, this spa is POISED FOR SUCCESS. 919.848.4202 medlisting@gmail.com medicalpracticelistings.com
We have several qualified MDs seeking established Urgent Care Practices in North Carolina.
Urgent Care Practices Wanted If you have an urgent care practice and would like to explore your selling options, please contact us. Your call will be handled confidentially and we always put together win-win solutions for the seller and buyer.
Call Medical Practice Listings today and ask for Philip Driver 919-848-4202. 36 | OCTOBER 2016
Women’s Health Practice in Morehead City, Newly listed Primary Care specializing in Women’s care located in the beautiful coastal city of Morehead City. This spacious practice has 5 exam rooms with one electronic tilting exam table and 4 other Ritter exam tables. Excellent visibility and parking make this an ideal location to market and expand. This practice is fully equipped and is ready for a new owner that is ready to hit the ground running. The owning MD is retiring and will be accommodating during the transition period. This medical building is owned and is offered for sale, lease or lease to own. The gross receipts for the past 3 years exceed $540,000 per year. If you are looking to purchase an excellent practice located in a picturesque setting, please contact us today.
Call 919-848-4202 or email medlistings@gmail.com www.medicalpracticelistings.com
North Carolina Dentist Opportunities
Pediatrics Practice Wanted Pediatrics Practice Wanted in NC Considering your options regarding your pediatric practice? We can help. Medical Practice Listings has a well qualified buyer for a pediatric practice anywhere in central North Carolina.
Physician Solutions has immediate opportunities for dentists throughout NC. Top wages, professional liability insurance and accommodations provided. Call us today if you are available for a few days a month, on-going or for permanent placement. Please contact Physican Solutions at 919-845-0054 or physiciansolutions@gmail.com
Contact us today to discuss your options confidentially.
Medical Practice Listings Call 919-848-4202 or e-mail medlistings@gmail.com www.medicalpracticelistings.com
PRIMARY CARE PRACTICE East of Raleigh, North Carolina We are offering a well established primary care practice only minutes east of Raleigh North Carolina. The retiring physician maintains a 5 day work week and has a solid base of patients that can easily be expanded. There are 6 fully equipped exam rooms, a large private doctor’s office, spacious business office, and patient friendly check in and out while the patient waiting room is generous overlooking manicured flowered grounds. This family practice is open Monday through Friday and treats 8 to a dozen patients per day. Currently operating on paper charts, there is no EMR in place. The Gross revenue is about $235,000 yearly. We are offering this practice for $50,000 which includes all the medical equipment and furniture. The building is free standing and can be leased or purchased. Contact Philip at 919-848-4202 to receive details and reasonable offers will be presented to the selling physician.
MedicalPracticeListings.com | medlisting@gmail.com | 919-848-4202 MED MONTHLY MAGAZINE
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Located on NC’s Beautiful Coast,
Morehead City
Primary Care Specializing in Women’s Health Practice established in 2005, averaging over $540,000 the past 3 years. Free standing practice building for sale or lease. This practice has 5 well equipped exam rooms and is offered for $20,000. 919.848.4202 medlisting@gmail.com medicalpracticelistings.com
Urology Practice minutes from Lake Norman, North Carolina
Med Spa in the Raleigh-Durham, NC Area Urology Practice minutes from Lake Norman is now listed for sale. This excellent located practice is convenient to Charlotte, Gastonia, Lincolnton and Hickory. With a solid patient base, procedures currently include; Adult & Pediatric Urology, Kidney Stones, Bladder Problems, Incontinence, Prostate Issues, Urinary Tract Infections, Wetting Problems, Erectile Dysfunction and related issues. Three exam rooms with two electronic tables and one flat exam table.
Beautiful Med Spa located in the Raleigh-Durham is among our newest listings. This very upscale facility is established and boosts consistent gross revenues of a million plus. Some of the procedures performed are: Botox, Dermal Fillers, Minimal light based treatments, laser hair removal, cool sculpting (external cooling treatment that freezes the hair and the body metabolizes the fat). This practice is ideal for the Plastic Surgeon or Dermatologist.
Established: 1980 l Gross Yearly Income: $275,000 Average Patients per Day: 12 to 15 l List Price: $165,000
Established: 2010 l Annual Revenue: $1,000,000 Average Patients per Day: 15 to 25
Contact Philip or Danielle at 919-848-4202 or email medlistings@gmail.com
Call 919-848-4202 or email medlistings@gmail.com www.medicalpracticelistings.com
38 | OCTOBER 2016
PEDIATRICIAN
Discounts as big as a house. Or condo. Or apartment.
or family medicine doctor needed in
FAYETTEVILLE, NC
Lindsay Gianni, Agent 12333 Strickland Road Suite 106 Raleigh, NC 27613 Bus: 919-329-2913 lindsay.gianni.f23o@statefarm.com
See just how big your savings could be. Your savings could add up to hundreds of dollars when you put all your policies together under our State Farm roof. GET TO A BETTER STATE. CALL ME TODAY. ÂŽ
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Comfortable seeing children. Needed immediately.
Call 919- 845-0054 or email: physiciansolutions@gmail.com www.physiciansolutions.com
1103155.1
State Farm Mutual Automobile Insurance Company, State Farm Indemnity Company, Bloomington, IL
PRIMARY CARE PRACTICE - Hickory, North Carolina This is an outstanding opportunity to acquire one of the most organized and profitable primary care practices in the area. Grossing a million and a half yearly, the principal physician enjoys ordinary practice income of over $300,000 annually. Hickory is located in the foot-hills of North Carolina and is surrounded by picturesque mountains, lakes, upscale shopping malls and the school systems are excellent. If you are looking for an established practice that runs like a well oiled machine, request more information. The free standing building that houses this practice is available to purchase or rent with an option. There are 4 exam rooms with a well appointed procedure room. The owning physician works 4 to 5 days per week and there is a full time physician assistant staffed as well. For the well qualified purchasing physician, the owner may consider some owner-financing. Call us today. List price: $425,000 | Year Established: 2007 | Gross Yearly Income: $1,500,000
MedicalPracticeListings.com | medlisting@gmail.com | 919-848-4202 MED MONTHLY MAGAZINE
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Physician Solutions, Inc. Medical & Dental Staffing
The fastest way to be $200K in debt is to open your own practice The fastest way to make $100K is to choose
Physician Solutions
THE DECISION IS YOURS Physician Solutions, Inc. P.O. Box 98313 Raleigh, NC 27624 phone: 919-845-0054 fax: 919-845-1947 www.physiciansolutions.com physiciansolutions@gmail.com
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