Can Specialty Healthcare Practices Find Operational Efficiency Post-COVID?
Recently, the American Medical Association published research regarding physicians’ Medicare spending during the first few months of the pandemic. In the study, “Changes in Medicare Physician Spending During the COVID-19 Pandemic,” the AMA discovered that specialty physicians in Dermatology, Ophthalmology, Otolaryngology, Gastroenterology, and Pathology reduced their spending from 23 to 29 percent. How has this reduction in expenditure impacted these doctors a year later?
To figure it out, Voice of B2B Daniel Litwin joined Terrence D. Sims, the President of Strategic Growth and Marketing of Raintree Systems, to discuss specialty healthcare. Raintree is a “digital healthcare solutions company working to centralize and customize specialized clinical practices through EMR/EHR software solutions.”
“The spending was largely attributed to the disruption during the closure period,” Sims said, as he expects Medicare spending to go back up, but not to previous levels due to expanded virtual health services.
But, it allowed healthcare providers a chance to examine how they deliver services to patients. Some solutions that arose were virtual care, telehealth, and remote patient monitoring. Though the technology was there, doctors relied on their old methodology, but the pandemic forced them to adapt.
“We now incorporate more technology than we probably ever have,” Sims said. With more spending going toward telehealth services, Medicare spending will stay on the lower end.
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