Understanding Fee For Service VS Fee For Value

PracticeForces BlogCovid19

For the last couple of months, small and large healthcare practices have had to reinvent how they offer medical care. The COVID-19 crisis has once again brought to the forefront the question – what can practices do to improve patient accessibility, increase patient lifetime value, and improve reimbursement levels?

Dr. Pariksith Singh, the founder of Access Healthcare and a third time guest to Improving the Business of Medicine is a powerhouse of information on managing and improving U.S. healthcare practices.

Dr.Singh shares how healthcare practices must move from a fee-for-service model to fee-for-value. In an environment where healthcare is increasingly corporatized, it will be difficult for standalone healthcare practices to survive unless they offer the fee-for-value services. Apart from improving the quality of care, Dr.Singh recommends that healthcare practices must improve the utilization of resources (thereby reducing costs) and ensure compliance.

The other focus for today’s discussion is how telemedicine and application of internet-of-things in healthcare are enhancing the ease with which doctors can remotely care for patients.

So listen in as Dr.Singh offers insights on these and other related topics on managing a modern physician practice.

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PracticeForces is a frontier medical billing company in Florida. We have partnered with AdvancedMD and eClinicalWorks, both of which offer telemedicine services. If you would like to implement telemedicine services for your practice, we would be happy to help. Contact us today for a FREE-consult.