AAOS Now, September 2018
Reasons Why Diagnostic Coding Matters in Value-based Care
Payers are great at collecting data. They use the information to develop payment policies, determine reimbursement rates, and, increasingly, to negotiate value-based contracts. Payers profit because they know how much it costs to take care of patients with certain illnesses and comorbidities. Payers know how to harness the power of data. Orthopaedic surgeons—not so much.
The Rise of the MD/MBA
Physicians spend a considerable portion of their time in medical school, residency training, and fellowship in clinical training to become proficient in their specialties. Throughout the training process, there is little to no guidance on the business side of medicine. With the evolution of health care and a focus on fiscal management and economics, maintaining a medical practice—whether independent practice or hospital employment—is a challenge.