Practice Management News and Education

Clinical excellence aside, the care you provide for your patients may be impacted by the efficiency and effectiveness of your practice operations. A regularly scheduled practice evaluation can help you stay ahead of policies and procedures that support optimal workflow and a healthy bottom line, even when you think your business is running like a well-oiled machine.

There are several key areas where technology can be implemented into a medical practice to optimize and streamline the flow of the practice and help to increase revenue.

On October 6, 2023, the United States Drug Enforcement Administration (DEA) announced that the telehealth flexibility waiver, which allows healthcare providers to prescribe controlled substances via telemedicine without an in-person patient visit, would be extended through December 31, 2024.

If you are considering a change in your practice this year or in 2024, please notify CAP as soon as possible so our Membership Services Department can work with you to ensure that any necessary coverage transitions are implemented smoothly. Changes include, but are not limited to: Retirement from practice at age 55+, part-time practice (e.g., 20 or fewer hours per week or 16 hours for anesthesiologists), or reduction or any change in the scope of your practice.

Answering a Few Questions Can Pay Dividends to Boost Your Practice's Operational Effectiveness

Is your practice running as smoothly as it could be? Even if things are mostly working, it's a good idea to regularly review your office systems and procedures to assess the areas where your practice shines, and the areas where you could use a little help.

Hiring additional physicians or Advanced Practice Providers (APP) may be a good option to consider to help reduce scheduling backlogs, which can support ongoing quality patient care and a solid revenue stream.

As a CAP member, you have access to the CAP Purchasing Alliance, a free group purchasing program that provides independent practices access to the same volume pricing on specialty-specific supplies and equipment as the nation's largest health systems.

The elections for the Cooperative of American Physicians, Inc. (CAP) Board of Directors and for the Mutual Protection Trust (MPT) Board of Trustees are currently underway—and the July 19th annual meeting date is fast approaching!

In value-based care, physicians are paid for keeping people healthy rather than the volume of services delivered. Through coordinated care focused on specific

Changing economic conditions and rising rates have dramatically impacted the Medical Office Building (MOB) real estate market.