Optimal medical outcomes with limited liability: risk management principles for medical practices at the intersection of medicine, law, and business.
Physicians practice at the intersection of medicine, law, and business. Each discipline creates its own challenges for the practicing physician: to practice efficient, effective medicine; to limit potential liability; and to create a positive financial outcome. Those challenges increase with escalating costs and reduced reimbursements. In this paper, the common clinical presentation of chest pain has been used to create a paradigm to educate physicians to understand efficient and effective approaches to diagnosis and treatment, and how effective communication with patients and meticulous documentation of all medical encounters can limit the potential for liability. Ultimately, given today's reimbursement formulas, physicians must also understand the cost of testing, in relation to its benefits, in an attempt to yield a positive financial outcome.
Paterick
Timothy J
TJ
Division of Cardiovascular Diseases, Mayo Clinic, Jacksonville, Florida 32224, USA. paterick.timothy@mayo.edu
Paterick
Timothy E
TE
Waterhouse
Blake E
BE
D002318:Cardiovascular Diseases; D003132:Commerce / Q000331:legislation & jurisprudence*; D005376:Financial Management; D006801:Humans; D016365:Liability, Legal; D008318:Malpractice / Q000331:legislation & jurisprudence; D010817:Physician-Patient Relations; D011216:Practice Management, Medical / Q000331:legislation & jurisprudence*; D018570:Risk Assessment; D012307:Risk Factors; D012308:Risk Management; D016896:Treatment Outcome; D014481:United States