Top 5 Issues Facing Doctors In 2014

The Physician Foundation released its Physicians Watch List highlighting the five biggest issues facing doctors in 2014. Here’s brief information about the list:

  1. Consolidation leading to monopolization. Consolidation concerns made last year’s list, but this year, those worries about more and more doctors joining larger and larger health systems have morphed into anxiety about eroding competition.
  2. Continuing growth of regulatory burdens. Nonclinical paperwork already takes up a lot of physicians’ time, but with the deadline for ICD-10 implementation looming, even more time for administrative paperwork will be required of doctors.
  3. Confusion. Many private practice physicians have not been educated on how the new health insurance exchanges work and so are unsure how to explain them to their patients. Their own lack of understanding has led them to be worried about whether their reimbursement rates will be less in the exchanges; whether they will be able to control the number of exchange-based patients they will have to take on; and the potential difficulties of collecting out-of-pocket charges from these patients.
  4. Health information technology. Doctors are frustrated by the lack of interoperability between electronic health systems and are worried about how HIT will impact how they practice and protecting the privacy and security of patient information.
  5. Stalemates. Doctors, too, are frustrated by the seeming inability of Congress to operate. Particular worries associated with lawmaker decisions include the continued struggle to repeal the sustainable growth rate and what will happen if the 24 percent cut scheduled for the start of 2014 is triggered; ongoing deadlock on tort reform; and worries about the fate of Medicare and Medicaid reimbursements in federal budget talks.

Source: Healthcare Finance News

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Top Trends In Health Care Industry In 2014, Latest PwC Survey

Majority of hospitals and providers moving towards transparency in price is poised to be a great year for the healthcare industry. Not only is the Affordable Care Act getting fleshed out but there are numerous upcoming trends facing the healthcare industry. In 2014, hospitals and care health institutes will witness a shift that is more retail-focused. Price transparency and cost savings will become the biggest focus areas, reveals the latest PwC Health Research Institute’s Top Health Industry Issues for 2014.

Kelly Barnes, PwC’s U.S. health industries leader commented on the release of the report, “While health insurance exchange implementation is driving headlines today–in reality the next 12 months will be marked by how well the industry addresses a range of core business challenges.” Barnes adds, “Businesses must address rapid innovation and competition from non-traditional players, but above all they must respond to empowered consumers as customer-centric transformation sweeps healthcare.” [] Continue reading

Patient-Centered Care Biggest Agent Driving Mobile Adoption – Excerpts From mHealth Summit 2013

According to an expert panel consisting of senior executives from top healthcare organizations at the mHealth Summit 2013 in Washington D.C., mobile technology may very well be the future of patient-centric care. However, there is a strong need for better evidences to take it to the next level of adoption and implementation.

Cleveland Clinic Chief Medical Information Officer David Levin said, “We imagine things that will actually change people’s behavior, but we’re often wrong. Harping that health IT is not usually designed with the patient in mind. “Good design takes into account human factors and what motivates people and [what integrates] into and IT ecosystem,” he said.

Consumerism is adding to success of mHealth so far and it’s going to significantly change the way people live. mHealth patients won’t accept not getting their health data and not using mobile health apps to keep track of and participate in their own healthcare. [] Continue reading

Key Management Group to Showcase Patient-Provider Centric Mobile Health Solutions at mHealth Summit 2013

New York – December 9, 2013 – (Virtual Press Office) — As mobile devices and their associated mHealth apps continue to KMG Logoreshape the healthcare continuum, Key Management Group, Inc. (KMG) announced that it will be showcasing its comprehensive range of mHealth and healthcare IT solutions in booth 1223 at the mHealth Summit 2013 event being held from December 8 – 11 in the Gaylord Convention Center, in National Harbor, MD.

“The advancement in mobile technology has enabled both patients and providers to communicate regularly and share health information in a secure manner,” said Rohit Narang, President at KMG. “Our mission is to listen to our clients’ ideas, help them develop a blueprint for innovation and bring those relevant ideas to reality,” he added. Continue reading

mHealth To Experience Top Growth In Healthcare In 2014: Report

The mHealth expansion will be fuelled by mobile technology and application explosion

A survey conducted by Frost & Sullivan covering 1,835 healthcare executives confirmed that Mobile health (mHealth) will be the top growth area in healthcare in 2014. immense growth in mHealth is driven by the explosion in mobile technology, health applications and increased connectivity. Other than mobiles phones, other connected devices such as patient monitoring devices, personal digital assistants and other wireless devices have also contributed to the growth of mHealth.

Frost & Sullivan on releasing the survey results said, “It is an exciting area of opportunity for healthcare growth and will provide innovative solutions for stakeholders, both providers and patients alike, across the spectrum.” Frost claims that mHealth technologies will be increasingly used for wireless vital signs monitoring, location-aware telemonitoring systems and Bluetooth wireless technology-enabled health trackers. [] Continue reading

Huge Growth Expected In The Area Of Device Integration [REPORT]

Device integration market is expected to grow ten-fold in next six years

According to a report from Transparency Market Research, the global medical device connectivity market will grow at a compound rate of 37.8 percent from 2013 to 2019, taking the current market worth $3.5 billion to over $33 billion by 2019. integration from medical devices into EMRs helps save time, costs and eliminates human errors during documentation, and Meaningful Use clearly promises huge growth in the device integration. The market is already witnessing a steep rise with North America being the strongest contender. Thanks to increasing adoption of EMRs, and its continued growth is driven by factors such as increased need for workflow automation, efforts toward better patient safety, saved nursing hours, increased productivity of healthcare institutions, and minimizing the need for re-admissions. [] Continue reading

Practices Should Prep Up For ICD-10 Transition

An article published in Medical Economics suggests practices to get ready for the transition to the Tenth Revision of International Classification of Diseases (ICD-10). [] increases the specificity of the report while conducting a diagnoses, thereby helping the physician to pin-point the issues faced by the patient. This has become a mandate and health providers have been instructed to document care properly or they may see a reduction in reimbursements. But there are also few concerns associated with the implementation of ICD-10 such as whether payers will be ready, and some experts are recommending practices secure a line of credit in advance.

One of the key steps in achieving ICD-10 readiness is appointment of a point-person to lead the transition. Next, it is important to contact software vendors to learn about the plans for upgrades, without assuming that vendors will make their systems ICD-10 compliant. Continue reading