what would you do with 21 extra hours/week?
According to a recent study published in Health Affairs, American doctors spend 21 hours/week and $82k/physican/year on dealing with insurance companies. That's right, 21 HOURS. Always wish your doc would spend an extra 10 or 15 mintues with you? Here's why they can't...
Each insurance company has their own set of rules, regulations, standards, paperwork, etc. In addtion, most patients have custom insurance products that carry its own set of rules and paperwork. This makes it almost impossible to get a straight answer when needed most. According to one doctor,
A young patient complaining of extreme fatigue, for example, might benefit from a $40 blood test that could confirm infectious mononucleosis in 10 minutes. But a doctor cannot order the simple test without first checking with the insurance company to see if it is covered and if there are any constraints on where the patient’s blood can be drawn and the test run.
In addtion, doctors are having an increasingly difficult time keeping up with the ever-changing drugs that are covered by each insurance company. Doctors are sent weekly notices as to which medications are now covered, making tracking almost near impossible. How so?
Those doctors that are able to hire Office Managers or Office Administrators to work with all the insurance companies. However, most doctors run single-physican practices and cannot afford the expense to outsource this work to companies that specifically deal with insurance companies on the physician's behalf. So they are left to find the 21 hours/week to follow-up with insurance companies to ensure their patients receive the care they deserve.
Felipe Polanco
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