The 10 Rules of Othercare
The alternative to Obamacare is Othercare. In other words, employed and independent practitioners can struggle using old models of care and try to chase their tail every time the government and payers issue new rules, or, you can be innovative and be proactive. Skate with the puck v skating to where the puck will be. You need to adapt to several major trends like fee for service migrating to payment for valued care, improving the patient experience, the demand for care outstripping supply, and many more.
The pace of change is getting faster. Every facet of practice is impacted.
To thrive, practitioners must practice the 10 rules of Othercare:
1. Practice state of the art medicine migrating from a technician to a manager to an entrepreneur creating and transferring value to patients and payers.
2. Consolidate to garner market power
3. Use innovative care delivery models incorporating validated digital health technologies
4. Improve patient communication portals
5. Dominate on service and experience, not quality
6. Measure everything. Work more and more on your practice and less in your practice.
7. Adopt an entrepreneurial mindset
8. Maximize practice management efficiencies and efficacies
10. Fail early, cheaply and often with new product line offerings
For too long, physicians have watched from the sidelines while government, the biomedical complex and private payers call the tune. It’s time to get back in the game.
Arlen Meyers, MD, MBA is President and CEO of the Society of Physician Entrepreneurs at www.sopenet.org