As a physician and owner of a single provider practice, how do I compete with inflation (the increase in prices for goods and staff expecting to get paid more as other places are offering more) when the insurance companies are NOT paying me any more money???
Caught between a rock and a rock!
Watch out for the annual “Well Check” visit that comes with a laundry list of problems that require extra work/prescriptions/referral/labs, etc as well as the missed opportunity for scheduling a follow-up"sick" appointment. Modifier-25 works. Charity begins at home! This is a start…
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Not only do they bring a list of problems for that child during a well check up. They say it is not a problem:they just want the doctor opinion or they say that they thought an annual check up is to talk about everything like the tummy aches that the kid has been having and the melt downs during which the school age child has been hitting the parents for the last few months.
Some of them also expect to address the issues of their other children without scheduling an appointment for the other children.
When we started 20 years ago, I thought it was difficult but doable. But with inflation, my experience tells me Solo practitioners really do need to consider being a part of a Trust, and collaborate under an umbrella with better-negotiated fee schedules, better savings, and more power. Ultimately, you are working as a “Solo practice” but reaping the benefits of a group.
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Can you tell me more about being part of a ‘Trust’?
Can you tell more about being part of a Trust?