As 2014 opens, it brings certain challenges for everyone in the healthcare industry, and physicians are no exception. Several forces are at work that will make physicians' jobs of delivering care to the masses more difficult.
"While the promise of a better future for healthcare remains, the current path is leading us toward a more monopolistic, bureaucratic and costly healthcare system," Lou Goodman, PhD, president of The Physicians Foundation and CEO of the Texas Medical Association, said in a news release.
The Physicians Foundation recently identified five issues that will likely have the largest impact on physicians in 2014.
1. Possible monopolization of regional markets. As hospitals continue to consolidate into larger systems, a trend likely to continue this year, The Physicians Foundation fears there will be less competition and physicians will be forced to leave independent practices "not because they are unable to provide high-quality, cost-efficient care, but because regional monopolies have control of the market."
2. More regulatory requirements. Physicians already spend a lot of time on nonclinical paperwork, and that is only expected to increase this year with the ICD-10 deadline of October 1. Making the switch to ICD-10 requires more documentation and training, which takes time away from a physician's main priority — treating patients. "It is vital that practicing physicians not only thoroughly prepare for this transition, but also that they speak out about the negative impact this escalation of administrative burdens will continue to have on patient care," the report says.
3. PPACA confusion and concern. Many private practice physicians are unsure of how new insurance plans under the exchanges created as a result of the Patient Protection and Affordable Care Act, will affect their practices. They are concerned about lower reimbursement rates and reduced patient volumes due to insurance coverage changes, according to The Physicians Foundation. Additionally, they are worried about their ability to handle the expected rush of new patients at their practices as more Americans gain health insurance in 2014.
4. Health IT shortcomings. The lack of interoperability between electronic health record systems continues to be an issue for physicians. "The idea that EHR would be shareable among physician practices, ultimately creating efficiencies and better patient care, is not happening," the report states.
5. Government stalemates. Physicians are worried that the government is not properly managing aspects that affect their livelihood, according to The Physicians Foundation. Of major concern is the sustainable growth rate and tort reform. If the federal and state governments do not give support and clarity to physicians, it could damage the profession and lessen students' desire to become physicians.