Eye opening statistics caught my attention this week. We know medical providers, or simply ‘providers’ as they are called in industry, are the highly intelligent, big hearted, and financially well-heeled members in our community. However, there is reportedly more to the life of a physician than the healing of other humans and short rides to the office in a Tesla.
The work culture in the United States is a unique one, illustrated by this comparison with countries like Great Britain. In the U.S. there is apparently an inverse relationship of jobs requiring unique skills, sacrifice and education, to the well-being of the individuals working in those jobs. In Britain, occupations requiring the lowest skills carry the highest incidence of suicide. In the U.S., jobs requiring the most education, receiving the highest pay, come with the highest incident risk. (1)
According to a report by the National Institute for Occupational Safety & Health (NIOSH), occupations with the highest self-inflicted mortality rate shows medical providers at the top of the list. (2)
Given the importance of doctors to our communities and the amount of education and qualification required to practice their specialty, regulators need to begin considering the provider’s quality of life and encouraging their ability to practice medicine for as long as possible. A physician’s best work is when he/she has had the longest experience in the specialty, thus an older retiring physician is usually the most valuable medical provider in his/her peer group.
When you and I bought our mobile devices and received online banking accounts that promised efficiency and quality of life, it delivered. Physicians were incentivized with money from the federal government’s Centers for Medicare and Medicaid Services (CMS) to adopt Electronic Medical Record (EMR) technology, with promises that it would make their medical practice more efficient. In large part, additional requirements packaged in with that adoption have resulted in both consistently rising technology costs and much more inefficiency. With new ICD-10 coding regulations physicians have heard they should plan for a marked reduction in productivity. (3)
As with any new technology adoption, picking the correct brand, and budgeting appropriately for customizations and adoption training are essential. However, systems have become a vehicle to enable more meticulous reporting and documentation each year. Thus providers are spending time late into the evening and over the weekend documenting their patient visits for reimbursement, and it is no surprise they question the trade-off of their income bracket to their workload. Among other factors, the increasing cost of malpractice insurance and increasing requirements to receive reimbursement for services have created a trending decrease in income.
We are all about the medical provider at Visualize Health. Our intention is to streamline workflow and give physicians their evenings and their weekends back. We believe providers are most interested in getting to the work of medicine and realizing the reward of their sacrifices. We have created a tool that capitalizes on some of the biggest shifts in the healthcare industry and delivers the ability to benefit from the pay for performance model.
We are enabling providers to go ‘all-in’ with outcomes based reimbursement contracts and get rewarded.