SPOTLIGHT: Docs need sound business skills to build a strong medical home
Practices are businesses. Yet primary-care practices often are not managed as such. They require disciplined financial management; cost-benefit decision-making; identification of revenue enhancement opportunities; coding and billing expertise; personnel/HR management and change management skills. And that only scratches the surface. Compliance issues alone can drown a practice. Physicians have been forced to become businessmen. Most are not trained--much less have a desire--to run a business. Yet the pressure to generate revenue often becomes as important as how they practice medicine. Hospital Impact
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