At Physician Factor, we're passionate about supporting the knowledge transfer and shared expertise among physicians to drive improvements across healthcare, as well as career development. Here we spotlight news and trends of interest to physicians in our network.
What is Physician Factor? This knowledge exchange network is a dedicated portal for physicians seeking opportunities to contribute their expertise and input in exchange for compensation and supplemental income.
When You Can’t Find a Specialist
For many patients, seeing a specialist may take months, even with a referral from a primary care physician. For others, there may be no specialists in a patient’s plan. If one were to call the insurance company for assistance, they likely would be given several names in-network, only for the patient to find that the specialist is no longer in-network.
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Revolutionizing Physician Scheduling: The Power of AI in Physician Practices
Since the early 2000s, artificial intelligence (AI) has raised concerns regarding its use in healthcare to manage vast amounts of patient data, ensure proper handling, and maintain robust security measures. Nevertheless, contemporary healthcare organizations are exploring ways AI can safely enhance operational efficiency and support their patient populations, with patient data emerging as one of the most valuable assets within healthcare organizations today.
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Five Steps to Integrate AI Into Your Practice
AI has enormous potential to improve efficiency and decision-making in healthcare organizations, while also improving patient outcomes. It’s only a matter of time before its use becomes the industry standard.
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This Tech Will Change Your Practice Sooner Than You Think
Medical innovations don't happen overnight — but in today's digital world, they happen pretty fast. Some are advancing faster than you think. We're not talking theory or hoped-for breakthroughs in the next decade. These technologies are already a reality for many doctors and expected to grow rapidly in the next 1-3 years.
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5 Best Practices for Mitigating Evolving Health Care Cyberattacks
To combat evolving and increasingly damaging cyberthreats, health care organizations must proactively operationalize key risk mitigation strategies aimed at effectively shoring up their cyber defenses.
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How Physicians Can Successfully Find a Financial Advisor
The right financial advisor can help physicians by explaining which accounts are the right fit or what insurance is appropriate. An advisor can answer questions like knowing how much to invest, which accounts are the right fit, what insurance is appropriate, and how to proceed before spending a sizeable amount of money.
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Why Providers Need to Consider Generational Differences in The Payment Process
As approaches to healthcare delivery continue to evolve, so do patient expectations for engagement from their providers and preferences for how to pay for medical care. Driving many of these changes is the rise of Generation Z, or those born between 1997 and 2012, who account for 20% of the US and 25% of the global population, but only about 3.3% of healthcare spending, according to the World Economic Forum (WEF). A primary reason for that lower level of spending is that, naturally, the younger generation is healthier than its older counterparts, but they can’t be overlooked. Younger patients expect healthcare service levels to be similar to what they receive from other industries.
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Evaluating a Return on Investment for Virtual Care
Various factors around ROI on virtual tech should be considered before implementation, such as billing revenue, increased efficiency, downstream revenue and improved outcomes, said experts at the HIMSS24 preconference Virtual Care Forum.
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Navigating Revenue Challenges
The ability to confidently calculate cash and forecast net revenue is essential to ensuring effective operations management and a healthy cash flow to ultimately deliver high-quality patient care. The evolution of industry technology equips organizations to successfully improve satisfaction among patients, employees, and stakeholders while delivering high-quality care.
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New Year Brings New Value-Based Care Opportunities
As we move into 2024, health care is experiencing unprecedented digital innovation and transformation. New technologies and capabilities are emerging to enable organizations – including payers, providers, and self-funded employers – to confidently take on risk in value-based care (VBC) programs. Advances in AI and other technologies offer hope for streamlining administrative tasks and providing better access to patient data.
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