Healthcare Moving Forward

HEALTHCARE MOVING FORWARD: HOW THE AFFORDABLE CARE ACT WILL IMPACT THE NATIONS' MORE THAN 5,700 HOSPITALS 30,000,000 14,000,000 Under the Affordable Care Act, over 30 million Americans will receive healthcare coverage, including 14 million newly insured. With the influx in patients, the doctor shortage will continue to worsen and hospitals will be under pressure to increase productivity of their staff and get new practitioners billing faster. HOW MUCH OF A CHANGE ARE WE TALKING ABOUT? 84% Nationally, hospitals employ almost 5.5 million people and support an additional 10 million jobs annually. 84% of health care facility administrators and managers said their hospitals and health systems have physician openings. 8. 11111 Millions of previously uninsured Americans will soon have access to healthcare, which experts believe will mean an 250,000-400,000 increase in job openings annually over the next 10 years. HIRING By 2015 there will be a physician shortage of 62,900 and by 2020 a shortage of 91,500. There will be 1.2 million job openings for licensed practical and registered nurses that will need to be filled by 2020. FILLING THE DEMAND 14.7% 1/9 1/3 43% of respondents to a Doctors Company survey admitted they'd consider retiring within the next five years as a result of the Affordable Care Act. About 1/3 of physicians are older than 55, 1/3 of whom will retire in the next decade. The 2013 national average “TOTAL" hospital turnover rate is 14.7%. WHAT ARE THE BARRIERS TO ENTRY/HIRING NEW HEALTHCARE EMPLOYEES? $361,000,000,000 The US spends $361 billion annually on healthcare administration. That's 2x the money spent on heart The typical physician submits nearly 18 different credentialing forms, taking 20+ hours annually of physician and staff time. A 2012 Physicians Foundation survey found almost 4 out of 5 respondents identified too much regulation and paperwork as a 'very important' reason the medical profession is in decline. disease and 3x the amount spent on treating cancer. I'VE FOUND THE RIGHT CANDIDATE. NOW WHAT? Th Sa In a single year, primary care physicians bring in an average revenue of $1.56 million, and their average salary is $221,000. The cost of a one week delay in credentialing can cost $34,250 in paid salary and lost revenue. 180 days A hospital that credentials 50 physicians per year, dealing with one week delays, will have $1.7 million in lost revenue. NCQA guidelines allow entities 180 days for the credentialing process. The industry average is less than 90 days, with 60 days as a gold benchmark. HOLDING DOWN THE HOSPITAL 2000 2014 In 2000, at least 60% of physicians owned their own practice. By 2014 it will be 30%. employmenti More physicians want hospital-b than an independent practice due to reduced admin responsibilities, better access to leading-edge healthcare IT tools and facilities, stability in business environment, as well as short and more predictable hours. ther -.7% 78% The average American hospital barely breaks even. The median operating margin for 200+ bed hospitals was (-.7%) between 2009 and 2010. 78% of hiring executives at hospitals want to hire team-oriented doctors, a skill they see lacking. 58% of hiring executives said between 0 and 50% of their physician staff were a good fit. Citations: www.aamc.org. www.aha.org. www.amednews.com, www.dailynews.com, www.economix.blogs.nytimes.com, www.forbes.com. www.heritage.org, www.magelanprovider.com, www.nejm.org. www.nsinursingsolutions.com, www.poweryourpractice.com, www.whitehouse.gov. Memitt Hawkins Inpatient/Outpatient Survey OSkillSurvey www.skillsurvey.com Now You Know. Administration Treating Heart Disease Cancer Buupəj