Private Practice Model Perspectives 2015 Survey
-
Upload
kareo -
Category
Health & Medicine
-
view
868 -
download
0
Transcript of Private Practice Model Perspectives 2015 Survey
![Page 1: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/1.jpg)
Private Practice Model Perspectives 2015 Survey
Conducted by Kareo & AAPP
![Page 2: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/2.jpg)
Agenda
2
Agenda
2
• Methodology• Respondents• Motivations & Realities of
Practice Models• Key Trends in Private
Pay/Membership Medicine
![Page 3: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/3.jpg)
33
• Approximately 100,000 physicians surveyed yielding 862 respondents• 206 Private Physicians
• 477 Conventional or Fee-for-service Providers
• 179 other
• Compared private physician respondents to conventional, insurance-based practice respondents across all common questions, and used statistical testing to determine where significant differences existed
• Reported on questions specific to either private physician practice respondents or insurance-based practice respondents
Methodology
![Page 4: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/4.jpg)
4
About Respondents
![Page 5: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/5.jpg)
5
Gender
Conventional Private
40%47%
60%53%
FemaleMale
![Page 6: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/6.jpg)
6
Age
21-29 30-39* 40-49 50-59 60 or older
7%
21%
24%26%
21%
4%
14%
29%
32%
20%
ConventionalPrivate
* Denotes statistically significant at a minimum 95% confidence level
![Page 7: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/7.jpg)
7
Professional Designation
DO MD NP PA
10%
74%
14%
2%
8%
80%
10%
2%
ConventionalPrivate
![Page 8: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/8.jpg)
8
Board Certification (MD/DO)
Conventional Private
14% 12%
86% 88% YesNo
![Page 9: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/9.jpg)
99
• Conventional physicians: 19.6 years• Private physicians: 19.9 years
Years in Practice
![Page 10: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/10.jpg)
10
Group Size
Solo practitioner*
2-5 practitioners*
6-10 practitioners
11+ practitioners
Health system or academic medical
center
40%
36%
10%
7%
7%
55%
26%
8%
8%
3%
PrivateConventional
* Denotes statistically significant at a minimum 95% confidence level
![Page 11: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/11.jpg)
11
Comparing Motivations & Realities Between Private and Conventional Physicians
![Page 12: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/12.jpg)
1212
Are you currently using a concierge, direct pay, or other membership model in your
practice?24%
76%
Yes No
![Page 13: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/13.jpg)
13
What is the likelihood you will transition to a concierge, direct pay, or other membership
model in the next 3 years?
54%32%
14%
Not likelySomewhat likelyHighly likely
Primary care MDs and DOs
![Page 14: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/14.jpg)
14
Top 2 Motivations for Transitioning to Private Medicine
Earn more money*
Spend more time with patients*
Improve work-life balance
Practice lifestyle, functional, or integrative medicine*
To separate from the insurance payer system
Other
39%
42%
35%
22%
41%
4%
26%
65%
42%
38%
46%
8% PrivateConventional
* Denotes statistically significant at a minimum 95% confidence level
![Page 15: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/15.jpg)
15
Average Length of a Patient Visit
15-20 minutes* 30 minutes* 45-60 minutes* Other (please specify)
49%
27%
18%
5%
19%
39%
33%
9%
Conventional
Private
* Denotes statistically significant at a minimum 95% confidence level
![Page 16: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/16.jpg)
16
How many days of the week do you see patients in the office?
Once a week 2 days a week 3 days a week 4 days a week 5 days a week 6 days a week* 7 days a week*
2%4%
10%
23%
61%
0% 0%2%
10%8%
19%
52%
8%
1%
ConventionalPrivate
* Denotes statistically significant at a minimum 95% confidence level
![Page 17: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/17.jpg)
17
What is your maximum daily visit volume?
* Denotes statistically significant at a minimum 95% confidence level Graph distributes “Other” respondents from previous question into “< 10” and “> 30” categories
<10* 10* 15* 20* 25* 30* > 30
1%
12% 13%
21%
17%
23%
13%
9%
39%
25%
9%
4% 5%
8%
Conventional
Private
![Page 18: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/18.jpg)
Patient Panel Size
Conventional
< 500 501-1000 1001-1500 1501-2000 >2000
24%
14%
12% 11%
39%
Private
< 100 101-200 201-300 301-400 401-500 >500
26%
13% 13%12%
7%
29%
![Page 19: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/19.jpg)
The average private medicine provider
works 42 hours a week while the average traditional provider works
47 hours per week.
![Page 20: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/20.jpg)
20
% Clinical Time vs. Administrative
Conventional Private
71.8
76.0% Clinical Time
![Page 21: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/21.jpg)
21
Sources of New Patients Ranked by Importance
word of mouth physician* online* advertising employer* other
1.7
2.3
3.3
4.1 4.1
4.8
1.5
3.12.8
3.9
4.5 4.5ConventionalPrivate
* Denotes statistically significant at a minimum 95% confidence level
![Page 22: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/22.jpg)
22
20% of practices—conventional or private—spend less than $800 a month on
marketing.
![Page 23: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/23.jpg)
23
Top Challenge Faced by Practice
Choosing and implementing new technology
Finding and keeping qualified staff*
Managing regulatory compliance
Recruiting new patients*
Retaining existing patients
Staying financially viable
11%
19%
18%
16%
2%
33%
10%
7%
15%
39%
2%
27%
PrivateConventional
* Denotes statistically significant at a minimum 95% confidence level
![Page 24: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/24.jpg)
Private Pay Practice Trends
![Page 25: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/25.jpg)
The average practice has been concierge or direct pay for 8 years.
![Page 26: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/26.jpg)
26
How did you start your concierge or direct pay practice?
47%
53%
Converted from an in-surance-based practice
Started the membership practice from scratch
![Page 27: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/27.jpg)
27
How do you describe your practice?
37%
33%
30%Cash Practice
Concierge
Direct Primary Care (DPC)
![Page 28: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/28.jpg)
28
Billing models for cash-based fee for service practices
29%
71%
Based on visit time (i.e., # of minutes)Fixed fee by service type
![Page 29: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/29.jpg)
The average annual membership fee is $2,025.
![Page 30: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/30.jpg)
30
What membership packages or payment plans do you offer? Check all that apply.
Monthly payment plan Quarterly payment plan Annual payment plan Discounts for couples/families
Discounts for children
65%
44%
61%
42%36%
Note: categories are not mutually exclusive and will not sum to 100%
![Page 31: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/31.jpg)
31
Of your total patient panel, what percentage are members?
37%
10% 6%
19%
28% <25
26-50%
50-75%
75-99%
All patients are members
![Page 32: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/32.jpg)
32
If you accept insurance, please check all that apply to the status you have with the following payer types:
Medicare non-participating
Medicare opt-out
Out of network with health plans
17%
23%
45%
Note: categories are not mutually exclusive and will not sum to 100%
![Page 33: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/33.jpg)
33
Services Offered (Select all that apply.)
Remote monitoring - Sleep tracking (i.e. using a FitBit, or other sleep monitoring device)Carotid IMT
Remote monitoring of activity (i.e. using a FitBit or similar device)Remote monitoring of biometrics (i.e. blood pressure, weight, glucose) using a monitoring device
Home sleep testingHospital admission
Mobile apps for patient managementNutritional supplement dispensing using an online dispensary and direct shipping
Nutritional supplement dispensing in the officeGenetic testing (e.g., 23andMe)
Body Composition Assessment (BIA)Exercise program design
Pharmacogenomics testingHormone replacement therapy
Patient education using seminarsHospital visitation
Weight loss programHouse calls
Nutrition assessmentPersonalized, documented health management plan for the year
Nutrition consultationNavigation and coordination of care with specialists
On-site lab drawingHealth Coaching
Virtual consultations via phone, text, email, and/or video chatPre-negotiated cash prices for office services and/or labs
Annual health evaluationOngoing Management of acute and other primary care needs
7%8%
10%13%
15%17%18%
22%23%24%
27%28%29%30%
32%36%
38%39%40%
45%46%47%48%
53%55%
59%68%
72%
![Page 34: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/34.jpg)
Technology
![Page 35: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/35.jpg)
35
Private pay practices are more likely to use telemedicine, kiosks, and practice
marketing platforms.
![Page 36: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/36.jpg)
36
Top Software Features• When asked about top software features…
• Private pay practices were more likely to want online scheduling, patient portals, online billing & payments, and credit card on file.
• Traditional practices were more likely to want improved claims management, financial reporting, and specialty EHR features.
![Page 37: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/37.jpg)
37
In conclusion…There are challenges and benefits for both private and conventional practice models. However, despite varying workflows and
processes, a common need for all independent practices is the right technology, tools, and
support.
![Page 38: Private Practice Model Perspectives 2015 Survey](https://reader035.fdocuments.net/reader035/viewer/2022062412/58eee7171a28abb9118b460f/html5/thumbnails/38.jpg)
38
Download the Slides
Kareo @GoKareo GoKareo Kareo