Archives : Economy
Time to throw in the towel on private practice…or is it?
I don’t buy it.
An article in the New York Times today titled, “More Doctors Giving Up Private Practices,” told the story of an increasing number of physicians who are finding their “bliss” through employed, salaried positions, rather than at the helm of their own private practice. The reason – increased costs, decreased pay, and ultimately unhappier doctors in the private practice environment. Again, I don’t buy it.
The article spoke of the…
Cash flow considerations
There is a trend of “slowing payments” over the past several months and we are noticing clinics have higher percentages of aged account balances, particularly from patient responsibility, sitting out in the greater than 90 or 120 day columns. With individuals continuing to struggle in this economy, they are more quickly and frequently making the decision that their medical bills can be put on hold. Clinic owners need to recognize that this may be happening in their practice,…
Female patients not immune from economy’s impact on healthcare services
We’re blogging about this quite often here at The Healthcare Entrepreneur, but in case you haven’t noticed, the souring economy is having an impact on the healthcare provided through private medical, physical therapy, and dental practices. People are delaying care, paying more slowly, and
Adjusting ARM’s and reduced home equity placing medical bills second in line
In this article published in the Wall Street Journal online, the issue is addressed whereby the housing crisis is impacting the ability for Americans to pay their medical bills. This has been in the works for some time now, and with many ARM’s readjusting and the amount of equity in Americans’ homes seriously deflated, medical bills are piling up simply because they have to.
Medical practices…
Moody’s revises healthcare outlook from “stable” to “negative”
Maybe we only think we are recession proof. With the seemingly never ending spiral of credit, housing and banking crises ravaging through the global economy, investors are starting to take notice that healthcare doesn’t exist in a silo.
Medical practices, hospitals, and physical therapy clinics get paid by someone, and if that someone is in financial trouble, you can bet the problems don’t stop at the practices’ front doors. The someone just so happens to…
New hospital economic data provides insight into private practice economics
Hospitals are only separate from private medical practices by virtue of their specialty and operations, not their economic disposition.
New data from the American Hospital Association indicates that not only are elective procedures down, but also overall admissions as well. Additionally, the data indicate that there is a significant increase in the number of patients who can’t afford the cost of their care.
These data should catch the attention of…
“Keep the Doors Open”: New program offered by Vantage Clinical Solutions in response to slowing economy
The following was shared in a press release made available earlier today by Vantage Clinical Solutions, moderator of The Healthcare Entrepreneur Blog.
____________________________________________________
Vantage Clinical Solutions Offers Free Help
to Medical Practices Impacted by Slowing Economy
New “Keep the Doors Open” Program Begins Monday, November 17th
Bend, Oregon (November 13, 2008) Responding to the economic…
Economic impacts on healthcare
Our economic woes are far from over. This article published by the Medical Group Management Association (MGMA) validates some of what many of us already know to be true:
1. Healthcare services are being viewed as discretionary. Patients are foregoing certain operations, services, and prescriptions simply because they can’t afford it. This is impacting private practices through reduced volumes of services rendered and procedures performed.…
Medical care actually can wait…
We’ve blogged about it before – times are tough, and some medical care is making its way into the discretionary category of family budgets.
Here is an excellent article from the Washington Post speaking to the issue of medical care as it pertains to the constricting family budget. Reducing needed medical care is obviously not the right long term approach, but medical care is a bill to pay, and when budgets shrink, tough decisions will…
Obama v. McCain: Is healthcare a right?
Over the past few weeks, healthcare has not been the top story in the news. America’s money has been the focus recently, and rightfully so.
The two are very much related though, as money buys healthcare, and good health allows our economy to generate money.
For those that have been following the presidential race, it should be clear that one of the biggest fundamental differences between the candidates has to do with the level of regulation…
