Successful patient engagement requires that physicians have adequate time and space to focus on care. However, 70% of physicians are spending more than one day a week on paperwork instead of patient care, according to the 2014 Practice Profitability Index (PPI). In addition to the overwhelming paperwork, nearly one-quarter of physicians (23%) spend more than 40% of their time on administration.
The report also found that 40% of physician indicated patient engagement programs, such as disease management and population health efforts aimed at high-risk patients, hold the greatest promise for their practice performance in 2014. [Tweet “70% of Physicians Spend More Than One Day a Week on Paperwork, Not Patient Care”]
- physicians’ opinions on technology adoption;
- time spent on administration rather than patient care;
- impact of healthcare reform;
- intent to stay independent or sell their practice
- strategies for improving operational performance
Additional key findings from the 2014 PPI included:
Physicians Have a Darkening Outlook on Their Practices’ Profitability
- U.S. physicians are now more than twice as likely to foresee eroding, not increasing, profits in 2014.
- Those with a negative outlook increased from 36% to 39% during the past year, while optimists declined from 22% to 19%.
- The issues weighing on finances are still led by declining reimbursements (60%); rising costs (50%);requirements from the Affordable Care Act (49%); and the transition to ICD-10 (43%)
To download the entire 2014 PPI, visit: http://www.carecloud.com/
