Digesting government's regulatory alphabet soup.
The impact of the governmental regulatory acronyms implemented during this year will prove to be very similar to how implementation of the Prospective Payment System (PPS) via DRGs affected hospitals a decade ago. Those hospitals that realized the dimensional shift in their industry and made prudent business decisions and adjustments have not only survived their era of payment reform but have also flourished. Those hospitals which did not recognize the regulatory changes, or chose to ignore the changes, have not succeeded, many paying the ultimate price of business failure. The impact on physicians will be quite similar. Physicians that adopt proven, sound, business principles and accept the absolute need to be informed and pro-active, will not only succeed, but they too, will flourish. Physicians who choose otherwise, quite frankly, risk practice failure. A few years ago, the American Hospital Association published what I believe is the ultimate statement of health care regulatory bureaucracy. The publication boasted 80 pages, containing more than 2,000 entries. Its title was Acronyms and Initialisms in Health Care Administration. With the addition of the regulatory acronyms implemented during 1992, the size of that publication has probably more than doubled by now. Being able to digest this regulatory alphabet soup has its benefits; not only will physicians feel more comfortable in their knowledge of being in regulatory compliance, it may also help physicians focus on the best methods of managing their practices and ultimately, their careers.
Matthews
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Physicians Consulting Group, Atlanta, GA 30339.
D004526:Efficiency; D005845:Georgia; D006077:Government Agencies; D006801:Humans; D007344:Insurance Claim Reporting; D011216:Practice Management, Medical / Q000458:organization & administration*; D011331:Private Practice / Q000458:organization & administration*; D014481:United States