A recent study by Contemporary OB/GYN found that physicians who have chosen obstetrics and gynecology as a career path are generally happy with their decision. This annual survey included multiple choice questions but also allowed respondents to leave written comments, which captured providers' perceptions of both the rewarding aspects and the drawbacks of such a practice.
The Pros and Cons of Running a Private Practice
When looking at the pros and cons of owning a private medical practice, overwhelmingly, survey participants cited the ability to care for women throughout their lives as the most satisfying aspect of an OB/GYN practice. Some respondents mentioned the "magical awe" of delivering babies, while others referenced the satisfaction of caring for underserved populations and the "intellectual, practical and relational" aspects of the profession.
However, the most burdensome aspects of OB/GYN practice revolves around OB/GYN practice management, according to the survey. Electronic medical records (EMRs), increasing federal regulations, administrative work and less time to spend with patients were recurring themes. Additionally, more than half of respondents cited concerns about work-life balance.
Despite these challenges, more than half of those surveyed ranked themselves as either "satisfied" or "extremely satisfied" with their current job. This doesn't mean they are exempt from the same challenges others face in their profession, however. But how can physicians who are less satisfied turn these challenges into rewarding accomplishments?
The simple answer is that these obstacles will always exist, but facing them head-on can lessen the impact they have on career satisfaction — not to mention clinical revenue. Below are a few tips to help practitioners address some of the common challenges cited in the Contemporary OB/GYN survey.
Increased Administrative Work
All physician practices require some amount of paperwork, which cannot be avoided. What can be avoided, however, are administrative inefficiencies stemming from the wrong people performing specific jobs. For example, doctors should not spend time completing paperwork that could be filled out by nurses, and nurses should not perform work that could be handled by an administrative or clerical staff member. This may seem like a simplistic solution, but pushing tasks down the ladder frees up time for the most highly paid employees, allowing them to be more attentive to patients.
Ineffective or Burdensome Technology
Although we generally think of older systems as more burdensome than newer ones, even cutting-edge machines that do not integrate with existing systems can create technological bottlenecks. Practices should always look for ways to improve communication between their existing systems, since add-on products can enable systems to speak to each other. If a practice has an ultrasound that only stores images within its own system instead of in the cloud, for example, a staff member must manually move those images to the correct location for storage.
Any practice that is bogged down by technology should spend some time evaluating which machines or programs are causing inefficiencies and look to upgrade or replace these with something that better suits the business. Practices looking to upgrade their systems should weigh buying against leasing, depending on their ability to make a large, upfront capital investment.
Using technology to effectively treat patients
Regulatory and Third-Party Payer Restrictions
Regulatory and insurance restrictions are guiding patient care more than ever, and instability in the insurance market is causing uncertainty industrywide. The best response to this uncertainty is to hire expert staff to perform coding and billing. Submitting complete and accurate bills to third parties reduces the time to reimbursement and eliminates the need to resubmit claims. Practices should provide employees with regular training to ensure that billing practices remain compliant.
Private Practices Versus Corporations
It is increasingly difficult for private practices to compete against health systems, which focus on volume with an eye toward negotiated rates. Private practices, on the other hand, are able to focus more on quality of interactions and foster a more personalized doctor-patient relationship.
These practices attract a niche patient who seeks to avoid the hassle of driving to a large facility and waiting alongside 20 other patients. This patient wants a private practitioner who offers an array of services and who does not need to refer her to another facility for ancillary services such as ultrasound imaging.
Private practices should focus on offering the type of personalized customer service that is difficult to provide within a volume-driven system. If they execute these services well, they will be in a better position to retain their patients, generate new business from referrals and derive satisfaction from delivering the highest possible quality of care.
