Healthcare Demand Is Growing. Are You Ready?

AN OPPORTUNITY IN THE CHANGING HEALTHCARE LANDSCAPE HEALTHCARE DEMAND IS GROWING. ARE YOU READY? Many factors are affecting the boom in healthcare services, a growth pattern expected to continue into the next decade. This presents a great opportunity for independent practices looking for new opportunities to grow and accept new patients. WHAT IS AFFECTING THE INCREASE IN DEMAND? GROWING POPULATION By 2020, population growth will contribute to an increase in the demand for: Non-Primary Care by Healthcare Primary Care by GI 22% Services by 20% 23% AN AGING POPULACE 71 86 AVERAGE EXPECTED PATIENT LIFESPAN 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050 THE AFFORDABLE CARE ACT 32 MILLION 54 62 MILLION MILLION As a result, there will be 100 million more doctor's uninsured people will get insurance through the ACA by 2022. people are already accessing more preventive care, such as cancer screenings and vaccinations. office visits per year by 2025. Americans can now access mental health and substance abuse benefits. The American Medical Association estimates that there will be a shortage of 130,000 doctors. Despite this, only 16,000 new primary care providers will be funded through government programs in the next five years. HOW CAN YOU CAPITALIZE ON THIS DEMAND? Using integrated technology and focusing on patient engagement, you can streamline your business and increase productivity. Integrated billing, practice management, and electronic health records can improve productivity and increase revenue by 9.7%. Using automated reminders can reduce the rate of appointment ) no-shows by 30%-50%. CREATE A PATIENT PORTAL TO MEET PATIENT DEMANDS 75% 62% 66% 40% of patients are willing to view their medical records online. of patients want to correspond with primary care providers online. of patients want email reminders. of patients want text reminders. HOW WILL PRACTICE OPTIMIZATION AFFECT YOUR BOTTOM LINE? With this new technology, you won't just hold onto your existing patients. |open up the potential to attract new ones, too. You'll of patients are more loyal to physicians who have an online portal. 2 IN 3 people would consider switching to a physician who offers medical records 75% through a secure Internet connection. FAST MATH Average primary care doctor: Optimize administrative tasks: Increase visits: $1,500+ I per week can add as much as 78 weekly patient 23% +20% $75,000 visits in yearly patient load (about 15/week) of time (11.5 hours/week) revenue. O 50 weekly hours worked saved by reducing admin tasks through tech The current deficit of primary care physicians in the United States is a great opportunity for small and independent practices to amplify business without spending much more. By implementing a few patient and technology best practices, physicians can see revenue benefits, have happier patients, and avoid working extra hours. Learn more at www.kareo.com. Kkareo SOURCES: OPTUM INSTITUTE | U.S. CENSUS BUREAU| AMERICAN MEDICAL ASSOCIATION EMR PATIENT IMPACT | DELOITTE CENTER | NERDWALLET | CONGRESSIONAL BUDGET OFFICE MGMA Go Practice @GoKareo II