News & Trends – Page 4 – Physician Factor

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.

17Apr 2023

Private Practice Vs Hospital Employment—Which Suits You Best?

Choosing to work for a private practice or become a hospital employee after residency is a major decision that can affect every aspect of your life. Therefore, it is important to understand who you are and what you want, and to define your goals for your professional and personal life before making this decision.

10Apr 2023

Is There a Role for ChatGPT in Healthcare?

ChatGPT is a chatbot that uses artificial intelligence (AI) to echo intuitive human conversation. In the healthcare arena, ChatGPT could be applied to a variety of areas, including automating patient records and drafting medical reports. For example, ChatGPT could serve as a digital assistant to physicians by performing various administrative functions, thereby allowing them to expedite the process of assessing patients’ needs.

03Apr 2023

What Physicians Should and Should Not Do to Protect Their Assets

Asset protection is a necessity for any physician, regardless of variables like specialty or work setting. Physicians should consider asset protection strategies before they face any malpractice suits. Physicians who engage in financial wellbeing due diligence typically invest their money in protected accounts like 401(k) retirement accounts or in primary residence equity. In addition, such doctors will invest in quality malpractice insurance, which will protect them for up to specified amount of damages.

27Mar 2023

Paying It Forward: My Life as a Physician-Mentor

Mentoring is a great opportunity for residents and early-career physicians to grow personally and professionally. All residents are already mentors, whether they realize it or not. They mentor the medical students that rotate with them, and the younger generation of residents that come after them.

20Mar 2023

4 Key Marketing Tactics to Boost Patient Acquisition and Retention

Navigating the uncertain economic climate can be daunting for independent medical practices looking to attract and retain new patients in light of inflation, rising interest rates, and a potential recession. It’s time to get smart about your patient acquisition and retention plan to keep your practice thriving during this turbulent time.

13Mar 2023

Health Care Hiring Trends Physicians Need to Know

Now that federal spending on health care workers has diminished, and with the Public Health Emergency declared for the pandemic to expire on May 11, the health care labor market is undergoing a fundamental shift, which will bring a new set of opportunities for hospitals and health systems in 2023 and beyond.

06Mar 2023

Physician Practice Exit Considerations

This article is aimed at any physician contemplating exiting their practice at some point. Perhaps you are finally at the point in life where you are considering retirement; with all the work you have put into your practice, retirement is a welcome sign and you are contemplating selling. Most physicians are caught on the “entrepreneur merry-go-round”, dealing with business issues, family, staff, banks and so on, and find it difficult even to plan this year’s strategy, let alone figure out whether it’s time to sell.

27Feb 2023

Prediction: Virtual Care Growth Will Remain Steady In 2023

Look for 2023 to be a momentous year for virtual care as it continues to be shaped by healthcare economics, provider shortages, consumer demand, and government funding and regulation. Despite recent declines in volume, virtual care is simply too valuable - and necessary - not to become an increasingly important part of healthcare going forward.

13Feb 2023

How Medical Practices Can Provide Effective Care In The Face Of Rising Cyber Threats To EHRs

Digitizing information has proven to create a more swift and efficient way of providing care, as electronic data permits doctors to quickly access a patient’s diagnoses, treatment plans, medications, test results, and medical history. But with reward can come great risk. Electronic health record (EHR) downtimes and operational outages may be due to a direct ransomware attack on organizations. By leveraging advanced security strategies, health care practitioners can rest assured that their patients’ data always remains secure and accessible, thus guaranteeing high-quality care is consistently provided.

30Jan 2023

Focus On Six Key Areas For Successful Physician Partnerships

Physician partnerships require much pre-planning, careful structuring, and a whole lot of continued communication in order for them to be successful. It is certainly not a process that should be rushed through nor taken lightly and physicians should be both thorough and methodical throughout the process — from due diligence to drafting documents to communications during future partner meetings.

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