As a fellow colleague and an orthopedic surgeon in private practice with the Illinois Bone and Joint Institute and a board member of The Independent Physician Association of America (TIPAAA), my colleagues and I have witnessed many changes in our industry while facing fierce competition from our hospitals and health systems.
At PatientMD, we believe it is time for physicians to work together and form a national physician network for independent physicians whose objective is to improve the patient experience, provide a strategy and the services to support the growth of private practices, reduce physician burnout rate and preserves the patient/doctor relationship.
To accomplish this task, we as physicians must act strategically based on current and future industry trends. Three important trends are: 1. The increasing adoption of patient engagement solutions through use of Digital Health technology 2. Price transparency, soon to be mandated by the Federal Government by 2021 and 3. Care coordination. The PatientMD platform provides a number of integrated services to engage patients with your practice. A marketplace is provided for practices to post their prices for patient services which will further engage patients with your practice. By leveraging the price transparency rules, private practices provide a distinct economic advantage to patients over hospitals and health systems. To promote these services and your prices, digital marketing will be critical as 50%-60% of patients are using online tools for searching doctors and services that meet their needs.
A third and very important trend is care coordination. Most patients that utilize healthcare services tend to have one or more chronic disease. Patients tend to select doctors who are capable of coordinating their care across different specialties. Employers and payors tend to promote doctors capable of providing care coordination. Currently, hospitals and health systems have an advantage over private practices. At PatientMD, we assist private practices to form local networks with their colleagues which will be branded as part of a national network to further attract patients, employers and payors. It is through the formation of networks where we can coordinate patient care by sharing patient information and utilizing a common messaging platform. The results of these actions will lead to the growth of our practices.
To accommodate all types of practices, PatientMD provides two pricing models that are the best value in the industry. Our Tier 1 plan is a subscription model with your own personalized marketing platform for your web site in addition to marketing your practice and services through the PatientMD web site. Our Tier 2 plan is a transaction model where marketing of your practice and services is through the PatientMD web site.
Click below to learn more about the PatientMD platform and our services and sign up to join the PatientMD community.
Christ Pavlatos MD, MBA
Partner at IBJI
Board member of TIPAAA
Founder and CEO of PatientMD