|
   
|
Musings on the NFL and e-BooksMonday, August 23, 2010
Like the running back with the big contract who is now a little slow, assets become liabilities very fast. Barnes and Noble stores were the secret to selling books just a few years ago. nNw that Amazon sells more Kindle e-reader downloads than hardcover books, the technology advantage is only accelerating. Technology is an incredibly disruptive force once it gathers steam. So what does this mean in healthcare?
When Does the Law Kick In?Monday, August 16, 2010
We all remember Econ 101. If demand goes up and supply is short, prices go…? Up, right? Wrong, in this case. Prices are down. My equity analyst friend said, ‘Prices eventually have to find their rightful level.’ - That is the bigger question for physicians. If demand is growing, and the supply is not, when will physicians act to force pricing to move to its rightful level?
Twenty Year PerspectiveMonday, July 19, 2010
Manufacturing has been investing in IT longer than most any sector, and not surprisingly, saw its productivity grow almost 60% faster over the past 20 years than the economy as a whole. I am not an economist, but as a healthcare guy, finding myself again right at the beginning stage of an IT investment boom, I would suggest there are some long view lessons we can learn from our industry brethren who went 20 years before us. The idea that healthcare IT can, and will, lower costs makes too much logical sense.
Two Way StreetsTuesday, June 22, 2010
One of the consequences of patients paying more and more of the bill is that they are becoming more active consumers. As patients become prudent consumers, providers that fall short of the standard are going to get punished. However, If you are good, really good and not just a legend in your own mind, it presents a great opportunity.
Left TacklesSunday, May 30, 2010
On one play in 1985, Lawrence Taylor came unseen from the quarterback's blind side and literally snapped in half the leg of quarterback Joe Thiesmann, ending his career. Taylor, and those like him, changed the game and changed life for the offensive left tackles. A similar change has happened for physicians and it is becoming very obvious which practices have discovered the value of a good left tackle and which are still exposed to the hit from the blind side.
Who Pays for That?Wednesday, May 12, 2010
In a study by Greenhouse Internists in Philadelphia, the physicians work 50-60 hours per week and each see about 18 patients per day. If you assume the average internist gets 15-20 minutes for each visit, patient visits account for about 22-30 hours a week, somewhere around 40-50% of their work time. That is the part of a physician's work week that is actually compensated. So what is up with these physicians? Where does the rest of the time go? This little study sheds at least some light.
Not Your Father's Billing ProcessThursday, May 06, 2010
In the old days, when the process was highly manual, the economics between doing billing in-house or sourcing it to a third party were sort of apples to apples. But now, as technology plays a larger and larger role in determining whether the RCM process collects 92% of the contractually allowed amounts or 97-98%, that equation has changed.
New AssetsTuesday, May 04, 2010
A client of mine twenty years ago told me healthcare was nothing but an information business, occasionally interrupted by the laying of hands on the patient to do something. The difference is that automation and digitization turn our mounds of data into functional assets, assets that can be converted into money and value. We've seen this evolution in other industries and can consequently see the phases of change that we face in the coming future.
When a Dollar is Not a DollarFriday, April 23, 2010
One camp views every dollar of cost the same - a dollar no longer in my pocket - and make no distinction about the type of expenditure it is- operating expense, investments to maintain or to build new value, etc. That is a problem. Cheap is not always the least expensive option. It all depends on how you look at it.
A Tale of Two CitiesFriday, March 12, 2010
Just yesterday I spoke to a group of small practice administrators, giving them an overview of the HITECH Act and what is required to achieve 'meaningful use', but let's just say they were not buying the happy talk of the HIMSS crowd. The reaction was more along the lines of 'Who was the idiot who thought this was a good idea?' Granted, there was no open bar or any of the cool give-aways with vendor logos emblazoned on the side...
Peanuts and Prescription RefillsTuesday, February 09, 2010
A recent flight brought an encounter with one of the airlines 'fees' that seem to crop up now at every turn. Do these people hire creativity consultants to come up with new ways to charge us a little here, or a lot there? And do they think we can't add, that we really don't count the baggage fee or the price of the peanuts into the cost of our trip?
Dysfunctional - Exhibit ATuesday, January 12, 2010
During my adult lifetime, one of the words that has secured a place in the popular lexicon is 'dysfunctional,' a seemingly generic term meant to...
Fax Machines and EMRsFriday, January 08, 2010
It is now a well worn story in business school circles. The first fax machine, by itself, was not worth very much. Once there was another fax machine, then the first one could send a document to someone and it thus became more valuable. With every additional fax machine in operation, the first fax machine could now reach more people. - Viola - The power of the network. The value of connectivity.
Sixty Six DollarsWednesday, December 16, 2009
So,we have 4,250 encounters at an average of 3 encounters per hour. That means our physician spent 1,416 hours seeing these patients. If that was all that was involved, that equates to just a smidgeon shy of $80 per hour. But we all know those 1,416 hours are not all that are required to take care of those 4,250 patients. Let's be conservative and assume it takes an extra 20%. That is a total of about 1,700 hours to earn $112,750. That is $66 per hour.
Econ 101Tuesday, December 08, 2009
One of the joys of being the father of a teenager is when your discussions move to really interesting topics. A few years ago, my oldest and I...
The Future of SmallFriday, December 04, 2009
Doc Bailey was a classic country doctor right out of Hollywood's casting stereotype. Growing up in a small town in Arkansas, he was the only...
The Compensation CzarWednesday, November 18, 2009
At the end of this basketball season, one of the most exciting things to hit the NBA in a long time will get started. That is the bidding war for...
Survival of the independent medical practiceTuesday, November 10, 2009
From the beginning, ALN has been committed to helping physicians stay in control of their destiny. Never before has this issue been more important. ...
|