Building skills for success—in the office as well as in the operating room—is important for every orthopaedic surgeon. To help you gain insight into methods to improve the business aspects of your practice, the AAOS has developed an audio program series, Practice Management Consults.
The first two programs in Series 1—Pay for Performance (P4P) and Managing Payer Agreements—were introduced last fall. Now, the last two audio programs in the series are available. Both programs are moderated by David Halsey, MD, Chair of the Council on Advocacy.
Managing medical liability risk
According to the American Medical Association, physicians in 17 states are in a “medical liability crisis,” and 25 other states are rapidly approaching crisis status. The third podcast, Effectively Managing Medical Liability Risk, features four interviews, focused on the following topics:
- The root causes of the medical liability crisis and the factors that could help eliminate it
- Strategies for reducing medical liability risk—real strategies used in two very different practices
- The current medical liability market and alternative risk financing options
- “When it happens to you”—a physician and an attorney talk candidly about what it’s like, personally and professionally, to be on the receiving end of a lawsuit
No matter what state you’re in, this podcast is a must for every practicing orthopaedic surgeon—even those who haven’t yet been sued.
The final podcast in Series 1, Income Distribution, covers the complex issues that must be addressed when a group decides to modify its income distribution formula. Three experts—a practice management consultant, an attorney, and a practicing orthopaedic surgeon—each bring a unique perspective and practical approaches to the issue.
For example, what issues do practices need to face, and what questions need to be asked when they consider altering their income distribution formula? What are the legal aspects that groups need to address, including constraints imposed by the Stark laws?
Perhaps most valuable is the sharing of one practice’s actual experience in implementing a new income distribution formula. The physician shares an interactive spreadsheet he developed that listeners can adapt to their own situations to see how changing assumptions affect partners’ compensations.
Special EMR podcast
The AAOS has also developed a special podcast on electronic medical records (EMRs). Because EMRs are such a hot topic, the podcast is being made available to AAOS members free of charge via the Internet. Simply go to the AAOS home page (www.aaos.org), click on “Physician Education,” and then click on “Podcasts” to download the program.
Moderated by Dr. Halsey, the EMR podcast consists of a panel interview with three experts. Rosemarie Nelson, an information systems consultant, has years of experience assisting practices and healthcare institutions in implementing EMRs. Michele Zembo, MD, MBA, an orthopaedic surgeon, is currently serving on an EMR implementation committee at Louisiana State University. Marilyn Lamar is an attorney specializing in healthcare and information systems law.
All podcasts are available online at www.aaos.org. Simply click on “Physician Education” and then on “Podcasts.” You can purchase Effectively Managing Medical Liability Risk, Income Distribution, Pay for Performance, or Managing Payer Agreements singly or as a series. Or place your order today through the AAOS online store at www.aaos.org/products
The second series of Practice Management Consult podcasts is now in development. Watch for more information in upcoming issues of AAOS Now. And you’ll soon have the choice of downloading the podcasts or having them sent to you on a CD-ROM.
For more information, contact Steven Fisher, manager of the practice management group, at firstname.lastname@example.org or (847) 384-4331.