Stress Attacks Physicians and Practice Managers

Last week I attended a meeting of the Pinellas Park Medical District. The speaker, Dr. Colette Cseszko, presented a topic entitled “How to Eliminate the Harmful Effects of Stress”. This subject is indeed applicable to the medical community where physicians and their practice managers are being inundated with stress-causing issues today.

Obamacare. What does it mean? Am I ready to meet the requirements of the law for my patients? Am I ready to meet the requirements of the law for my staff as a business? How will this affect my livelihood?

Reimbursement Challenges. How can I better forecast financial profitability? How deep will the reimbursement cuts be next year? What impact will Obamacare have on reimbursement? With the changes in the economy, will my practice be seeing more Medicaid patients? As more baby boomers retire, will my patient demographics switch from commercial insurance to Medicare?

Rising Costs. Do I need to cut staff to survive? Will I be able to budget for staff pay increases? Has anyone reviewed the various service contracts and agreements that the practice has? Is there the ability to negotiate with vendors for better rates? Do I have the time to tackle these important issues?

Competition. How can I better compete for more patients? What should I focus on regarding marketing? Do I have a competitive strategy for my practice? Do I have time to spend on refining a strategy and implementing it?

Social Media. Is it really that important for my practice? What do I need to focus on? How do we get started? Who is going to keep the content fresh? Do I need to hire staff for this? What is it going to cost the practice?

Indeed, there are countless issues physicians and practice managers face. These challenges accumulate to the point that they can lead to frustration, burnout, and depression (in addition to other health-related issues as explained by Dr. Cseszko).

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Contact ABISA, a consultancy specializing in solo and small group practice management. Visit us at ABISALLC.com.

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