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CMT in Medical Economics, “Business: How physicians can transition to an insurance-free practice.” ~Medical Economics

“We used to submit a claim, and two or three weeks later we got reimbursed. Then it became five weeks and six weeks, and then they said they never got that claim even though it was sent electronically,” says Craig Koniver, MD, an insurance-free primary care physician in Charleston, South Carolina, and author of Connected: The New Rules of Medicine.

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By Jennifer Nelson

But by setting your own reasonable fees for services, physicians can see 15 to 18 patients per day rather than the 60-patient cattle-call model you might find while practicing under insurers’ thumbs. Plus, you won’t need to bring in a physician’s extender, such as a nurse practitioner or physician’s assistant, to help manage the patient load, nor the extra management staff to deal with endless insurance issues.  A 2009 survey in the journal Health Affairs found that physicians reported spending three hours weekly interacting with insurance plans, while nursing and clerical staff spent even more time. The national time cost to practices in an insurance model was $23 billion to $31 billion annually, approximately $26-$33 billion using 2016 figures.

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SOURCE: http://medicaleconomics.modernmedicine.com/medical-economics/news/how-physicians-can-transition-insurance-free-practice?page=0%2C1&GUID=4F18CCAA-AE2C-471B-81C1-7994C07F44D0&rememberme=1&ts=31102016

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