Main Street Medical Blog

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March 23, 2018

Value Based Payment Transition to be Accelerated

As a top priority from HHS Secretary Alex Azar HHS Secretary Alex Azar has a two fold plan to help accelerate the transition for value based payments.  By developing alternative payment models and through promoting price transparency, Azar is determined to ramp up the transition and get the ball rolling.  Earlier this year, Azar explained that, while alternative payment models got their start over a decade ago they are still not reaching their potential. The rate of healthcare spending in the United States continues to increase.  CMS projects it to actually make up 19.7% of the economy by the year 2026. With Medicare and Medicaid being the largest payers in the healthcare industry, forcing them to complete the transition through […]

March 9, 2018

Deadlines for Optional MIPS Participation

Are Right Around the Corner   Just like Spring here in Western Pennsylvania, the deadlines for this year’s optional participation in MIPS are right around the corner.   Refresher: MIPS is the Merit-Based Incentive Payment System, created by CMS to establish the reimbursements earned by patients and practices for treatment of Medicare patients.  Under the MACRA legislation, these new guidelines are set to be mandatory in the year 2018, but you have a chance to practice and receive benefits if you submit for 2017.  You can find out more about this program and the status of your participation here. Remember that the overall goal of the MACRA legislation, of which MIPS is a part, is to increase the quality of […]

February 16, 2018

Competition Inspiring Access to Data

A Rising Tide Lifts All Boats As we near the end of our series of blog posts focusing on the benefits of increased competition in healthcare, we get to an important topic, the inspired sharing of data as a collective means of improvement.  The sharing of data has two inspirations, or driving forces: the first being competition, and the second, being MACRA.     MACRA has included in the legislation, measures to improve the quality of healthcare, while lowering the cost, and set up methods for physicians to share information regarding ways they have improved their services with others.  The old adage “A rising tide lifts all boats” is appropriate here, as though you might compete with other healthcare providers […]

February 9, 2018

Competition Will Drive Innovation in HealthCare

As we all strive to be better, more affordable and achieve better results Over the past month, Main Street Medical has published a series of blog posts on the positive outcomes that increased competition will have on the healthcare industry.  In this post, we’ll take a look at how this same situation will drive innovations in both the services offered and the tools and technology that power healthcare.   As there are more options for doctors, hospitals and outpatient clinics, it’s only natural that we worry about experiencing some patient turnover.  Rather than sit back and bite our nails, worrying what this might do to the industry, Main Street Medical has been looking to the future and for this region, […]

February 2, 2018

Getting Closer to Your Patients

Increased Competition in Healthcare means establishing better patient relationships In our last post we took a look at how increased competition in the healthcare market has the potential to lower the cost of care in a variety of ways (Read the full post here).  In this post, we’ll continue on that thread, discussing how this same situation can have another potential positive impact, better quality relationships between patients and healthcare providers.   Increase competition stems directly from an increase in the amount of options patients have when choosing their healthcare provider.  Whether you, as a private practice, or a hospital managed practice, are interested in maintaining your current patients, or attracting new, you need to be able to offer these […]

January 5, 2018

Competition in Healthcare Drives Down Cost

How increased competition in the healthcare market can have a positive impact on cost   In this latest series of posts, we are taking a look at the potential ramifications of an increase in competition in the healthcare market.  More practices and hospitals might sound like a bad thing if you are a healthcare professional, but in this post and those to follow, we’ll look at how competition can actually be a good thing.  In this post specifically, let’s look into how competition can actually help to drive down the cost of healthcare, making it more affordable for patient and practitioner alike.   When competition increases in any market, and the healthcare market is no different, companies and organizations need […]

December 15, 2017

Inspiring a Higher Quality of Care

Through Increased Competition in the Healthcare Industry In our last post we highlighted a series of blog posts, that will focus on the upside of the increasing amount of competition in the healthcare industry.  The changes started with MACRA and we are bound to see more, as CMS works to increase the quality of care provided in the United States, while driving down the cost.  One way to do so, is to inspire competition – and let the market drive changes itself (like in many other industries).   How will Competition increase the quality of care provided? Let’s think about it in terms of a tangible product, like a car.  When there are only one or two car manufacturers in […]

December 8, 2017

Competition – Just What the Doctor Ordered

Increased Competition Brings Benefits to Healthcare With hospital mergers on the rise and more and more private practices seeking buyouts, the healthcare landscape looks a bit rough right now, and increased competition might seem like the last thing you or the healthcare industry needs; but it turns out, a bit of competition could be just what the doctor ordered.     In healthcare, like in almost every other industry, competition becomes a driving force for things that improve the overall quality of products or services, while driving down the prices through the creation of innovations, creativity and flexibility.  In this post, we’ll highlight some of the benefits that competition can create within the healthcare industry, and in following posts, we’ll […]

November 17, 2017

Revenue Cycle Management by the Numbers

A Look at Important KPIs for your Practice We talk a lot about managing your practice’s revenue cycle effectively and that Key Performance Indicators, or KPIs are needed to do so quite a bit.  In this post, we’ll take a closer look at which specific KPIs our experts and software helps you to track so that you can take the necessary steps to improve them.   Laying the Groundwork Before you can monitor and improve KPIs, you first need a method to track them.  There are different software options available for your practice, but Main Street Medical has selected and partnered with dashboardMD.  Our experts have researched and tested many different software tools and feel most confident in our client’s’ […]

November 14, 2017

Maintain Your Independence With Main Street Medical

Year over year, more and more doctors are losing the battle for independence, and joining up with a hospital or medical group in order to reverse the work/revenue balance.  But giving up your freedom as a doctor or practice, and becoming beholden to a larger entity, isn’t the only option.   Many doctors ultimately end up joining a hospital or medical group because they are working harder and longer, and making less money than their counterparts who have been absorbed by a larger entity.  Some argue that this is just a perception and that these doctors are not actually making more under a larger group – but one thing is becoming apparent, those who do, become beholden to the bottom […]