I’m having a conversation with a friend of mine this morning and we are in general talking about several stats from doctors that we would like to see, marketing strategies for doctors and in general the overall paradigm shift that is happening in medicine today. He then hits me with the statement “I think 30% of doctors do think their reimbursements will get better.” Now, I speak with thousands of doctors and practice managers and felt I had a pretty good handle on the opinions of the physician community. So tell me do 30% of you think your practice revenue will increase this year?
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#1 by Brenda on February 22nd, 2010
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Reimbursements continue to fall … and now wer’e seeing an increase in coverage denials for things that have been covered for years. We see very little reason to expect any kind of positive action (including an increase in reimbursements) from either the government or private insurance companies.
#2 by brad batchelor on February 22nd, 2010
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revenue will increase from 2010 but not without attention to detail and waste.
Providing even better service and providing patients with eductional information and encouraging health maintainance.
#3 by Jean Miller on February 22nd, 2010
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From the looks of how 2010 has begun; the practice revenue will NOT increase. Even folks with co-pays, and by the way, co-pays have increased; are not being able to afford their co-payments. When that happens, folks are not coming to the doctor. Insurance companys are making the bucks, not the physicians. Manage Care contracts prohibit physicians from collecting co-insurance and deductibles in advance of surgeries &/or obstetrical procedures and we get left with patients not paying their co-insurance. Physicians get left holding the bag and not getting reimbursed.
#4 by brad batchelor on February 22nd, 2010
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whoops 2009
#5 by J Douglas Brown on February 22nd, 2010
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No, revenues will not increase by 30%. As people age they switch to Medicare which pays considerably less. Also, the increased work load for insurance reembursement negates any increase in pay. God forbid a doctor do the math on hourely pay.
#6 by Dr. Scott on February 22nd, 2010
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Our revenue us already up. I haven’t received the official dollar amount from the accountant, but compared to this time last year I believe we’re up about 20% in gross revenue. In addition to that, we’re about 30% busier than we were this time last year regarding patient volume, so the potential income is much higher than 20%.
I’ve dropped the pessimistic attitude, though, and I’m looking ahead with optimism, amongst other things…
dr. scott
#7 by Dr. Scott on February 22nd, 2010
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Sorry about the typos in that last post – can’t change ‘em once you hit ’submit’…
#8 by Ada del Rivero Yamuy on February 22nd, 2010
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Usually January and February are very busy months for my practice.
I am a General Practitioner my office is in Los Angeles CA.For my surprise this January and February the number of patients drop in an average of 25%, and so did my gross income.A lot of my established patients are loosing their jobs and health Insurance.
That is my personal experienced.
#9 by Ray on February 22nd, 2010
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I think I’ll have 20% more hair this year also.
#10 by Linda on February 23rd, 2010
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It is hard to say one way or the other. Based off our observation, we think it has a lot to do with geographic location of your practice and your specialty. We seem to be running about even with last year at this point. Our physicians don’t seem that optimistic but we sure do what we can to change that! Life much easier when their happy.
#11 by Debbie on February 23rd, 2010
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The insurance companies revenues are up and Doc’s are down- thanks to more financial responsibility being layed on the patient in deductables and copays, getting that money from the patient is like pulling teeth.
#12 by TERI on February 23rd, 2010
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30% is a very high goal. In the past 10 years our practice has been in the 5% to 10% increase. I can say we do not look for much more than 5% for 2010. Insurance companies are paying for fewer services.
Write off has increased by 67% over the last 10 years.
#13 by Linda Seim, DC on February 23rd, 2010
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The only way our revenue will go up is if we see more patients. All the managed care plans have decreased our allowable amounts so we are already being paid less per service than last year.
#14 by Sherry Krueger on March 31st, 2010
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I have had the opportunity to interview many physicians now and I will continue my crusade to so so and try to bring you more information. I thought this was an interesting topic as we are split with many of you seeing more income. As I interviewed these doctors, the practices making more money are as I thought NOT making more money on insurance or Medicare etc, but rather on the cash medicine side of practice. Where the offices that are doing business as usual are the practices that are seeing the steady drop in revenue due to insurance and Medicare cuts as well as patient loss of jobs etc. Just food for thought guys! If you see someone on here tht says their income is up, ask them WHAT they are doing!
#15 by Daniel Schroder on April 7th, 2010
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I think our revenue will increase some in 2010, but the biggest change is the decrease in expenses. We have founds ways to cut waste, renegotiate rents and contracts, price shop, recycle, and run a leaner practice. This has reduced non payroll expenses by 25%. That is the one good thing that has come out of the bad economy; people are more cost conscious, which has allowed us to be the same.