Key skills covered in the Business of Medicine:
Physician revenue generationMedical billing, medical coding, and the medical practice revenue cycle. Physician Income – This section discusses how physicians are paid in today’s healthcare environment. Compensation models, RVUs (Relative Value Units), and other aspects of physician compensation are covered in detail.
Medical documentationThis section covers how medical encounters should be documented so that they comply with the strict guidelines outlined by Medicare and how improved documentation is related to increased compensation and quality. Hospital documentation to improve DRG coding in terms of CCs (comorbid or complicating conditions) and MCCs (major comorbid or complicating conditions) is discussed. Improving documentation of CCs and MCCs is a major effort underway in hospitals throughout the United States because of how this documentation can influence hospital payments from Medicare and other insurers.
Measuring physician qualityThis section discusses a few of the ways physician quality is measured like HCAPHS, PQRS, and VBP. The relationship to measured quality and physician compensation is discussed as well.
Physician contractsThis section covers the basics of physician contracting and a few areas for special attention – non-compete agreements, compensation, and signing bonuses.
Who is this course designed for?
This course is designed for medical students, residents, fellows, and attending physicians. This is a great course for attending physicians who are trying to maximize their productivity and value to a healthcare system. However, anyone who wishes to learn about how a medical practice functions might enjoy the course.