While high-profile data breaches are normally linked to large companies, this doesn’t mean that private medical practices are immune to these dangers. In fact, the healthcare industry has experienced more data breaches than any other sector and the average cost of a healthcare data breach is $10.1 million, much higher than any other industry.
While there has been plenty of discussion on how to keep people from leaving during the Great Resignation, it is also essential that you are hiring the right people moving forward.
As we are all well aware, medical professionals have been through the wringer over the past few years. From not having enough PPE to working overtime constantly, many people have chosen to leave the medical field completely to search for greener pastures.
As we roll into 2023, many of us are looking back at the past year(s) with a sigh of relief. The perils of COVID seem to be safely behind us and it is time to start looking toward what the New Year will bring.
Healthcare workers were stretched beyond their limits over the past few years with many doctors and nurses deciding to quit entirely. As more and more was asked of them, healthcare providers were also tasked with the unenviable job of reducing costs further which included identifying more cost-effective staffing models.
Over the past 10 years, value-based care reimbursement has risen in popularity as an alternative to traditional fee-for-service reimbursement that pays providers retrospectively for services delivered based on invoices or annual fee schedules.
As a medical practice begins to expand, it is likely that it will begin adding new healthcare providers.
Everywhere you look, costs are on the rise. From the food we eat to the medical supplies we order, everything seems to cost more and more everyday.
Running a business takes a huge amount of time, dedication, and energy, and managing your own medical practice is no different.
Thanks to new technology, processes, and regulations, the medical industry is constantly changing.