Practice Management

Timely Extubation in Cardiac Surgery: A Team Sport?
STS News, Summer 2017 -- With recent efforts by the Centers for Medicare & Medicaid Services to bundle payments for cardiac surgical services, alternative payment models (APMs) are now front and center in health care reform. An emphasis has been placed on coordination of care and stakeholder collaboration. Payer demand for value is here to stay. Read more >

How Cardiothoracic Surgeons Can Excel in an Employment Model Environment
STS News, Spring 2017 -- Proposed changes in health care finance and delivery have stimulated renewed interest in securing our specialty’s place in this new order. At the 2017 Practice Management Summit, several experts shared how cardiothoracic surgeons can best function in this evolving environment. Read more >

Bundled Payments for CABG: What CT Surgeons Need to Know
STS News, Winter 2017 -- Since the passage of the Affordable Care Act, CMS has been seeking to promote cooperative, value-based care. Alternative payment models are one way CMS is attempting to drive quality and value. Read more >

The Importance of the Cardiovascular Service Line in the Shift to Value
STS News, Fall 2016 -- As health care reimbursement continues to shift from fee-for-service to a value-based model, organizations must continually evolve to ensure their success. Read more >

Shift from Volume to Value Drives Hospital Employment, Changes Compensation Models
STS News, Summer 2016 -- The increasing emphasis on quality over quantity is driving a number of changes in cardiothoracic surgical practice, and cardiothoracic surgeons are well-positioned to take advantage of these opportunities. Read more >

Elimination of Operating Room Waste: The Power of Collaboration
STS News, Spring 2016 -- Waste in health care is everywhere. Excessive health care production costs coupled with delivery inefficiencies raise serious questions as to consumer-derived value. This misaligned health care business model is threatening the very mission of many hospitals. Read more >

Reader Comments on Fall 2015 Practice Management Column
STS News, Winter 2016 -- STS Member Murray Sheldon, MD writes with his thoughts regarding the Fall 2015 Practice Management column, "Considerations for Transitioning from Private Practice to Employment." Richard I. Whyte, MD, MBA, Chair of the STS Standards and Ethics Committee, responds. Read more >

2016 Practice Management Summit to Provide Insight on the Changing Health Care Environment
STS News, Winter 2016 -- The US health care delivery system business model is unsustainable in its current state. Health care production costs are steeped with inefficiencies, waste, and an incomprehensible level of complexity. The industry’s paradigm shift toward value has created angst and uncertainty among providers and administrators alike. How do cardiothoracic surgeons successfully navigate these changes? What can you do to ensure your seat at the table? Read more >

Considerations for Transitioning from Private Practice to Employment
STS News, Fall 2015 -- There are myriad reasons why physicians choose to transition from private practice to an employed physician arrangement. This trend recently has increased, and a majority of the cardiothoracic surgery workforce is now employed by a hospital, hospital system, or academic institution. ... Read more >

Transforming Health Care: The Cardiothoracic Surgeon's Role
STS News, Summer 2015 -- We are now living in a value-based health care world. The new normal is predicated upon quality, access, appropriateness, and cost of care. How will this shift affect our practices and compensation? Will hospital employment become a requisite? The answers to these questions are complex... Read more >

Take Advantage of the Opportunity to Engage System Administration
STS News, Spring 2015 -- Practice management isn’t what it used to be for most cardiothoracic surgeons. With a large number of cardiothoracic surgeons employed by hospitals or hospital systems, much of "practice" management has shifted to managing service lines within an institution. To be successful, surgeons have to recognize and even create opportunities within their institutions... Read more >

2015 Practice Management Summit to Focus on the Evolving Health Care Marketplace
STS News, Winter 2015 -- The passage of the Affordable Care Act and activation of the insurance coverage mandate have led to changes in the health care marketplace that affect cardiothoracic surgeons’ practice patterns. Hospital-based employment continues to grow, and the focus is slowly but surely shifting toward outcomes-based performance measurement tied to compensation... Read more >

Start Planning Your Transition to Retirement
STS News, Fall 2014 -- In this edition of STS News, Dr. Robert Emery outlines some of the steps necessary for a smooth transition from full-time clinical practice. His advice is important whether you are fast approaching this life milestone or still decades away from it... Read more >

How to Become a More Successful Innovator
STS News, Summer 2014 -- People and organizations must innovate in a changing world. In fact, innovation is the best way organizations can achieve sustained growth. This applies to the entire discipline of cardiothoracic surgery... Read more >

5 Tips for Navigating a Group Merger/Acquisition
STS News, Spring 2014 -- The evolution that is occurring in how we finance and deliver health care is resulting in consolidation throughout the industry. This, in turn, has put pressure on independent, private practitioners in all specialties, including ours. More than two-thirds of cardiothoracic surgeons have at least some type of financial arrangement with a hospital, university, or health system... Read more >

2014 Practice Management Summit to Address Changes in CT Surgical Practice
STS News, Winter 2014 -- The current health care environment is in the midst of major changes that may herald a shift in the practice and delivery of cardiothoracic surgery. Broad activity in hospital acquisition of US physician practices over the last 12 months has spawned substantial increases in the numbers of newly employed cardiologists, general surgeons, primary care providers, hospitalists, and cardiothoracic surgeons ... Read more >

Are Physician-Owned Hospitals Dinosaurs from the Past or Models for Our Future?
STS News, Fall 2013 -- There are currently 240 physician-owned hospitals in the United States. In this issue of Practice Management Pearls, Dr. Goya Raikar provides us with his view on the value of physician-owned hospitals and the efficiency of health care delivery. ... Read more >

Coding Help Desk Addresses Common Questions, Scenarios
STS News, Summer 2013 -- Every cardiothoracic surgeon wants to maximize his/her reimbursement within the prescribed payer rules. And while the intricacies of coding may seem complicated, the best outcomes are often achieved when the surgeon is informed and works in tandem with the office billers. ... Read more >

Gain a Power Position in Negotiation
STS News, Spring 2013 -- Many practicing cardiothoracic surgeons have entered into or will be entering into some type of contractual employment model. Whether the arrangement is with a large academic medical center or a community health system, this represents a drastic change ... Read more >

Surgeon Productivity: Are RVUs the End All, Be All?
STS News, Summer 2012 -- Cardiothoracic surgeons are approaching the 50 percent threshold of hospital employment in the United States. The interactions of becoming and staying employed involve some form of valuation of productivity as part of every contract negotiation ... Read more >

2012 Practice Management Summit to Address Important Projections of Health Care Reform and Lessons in Hospital Employment Contracting
STS News, Winter 2012 -- Quality-based initiatives, data reporting, and reimbursement are linked more now than ever, and changes in health care policy and delivery are affecting physicians and hospitals alike. Incentives for health care alignment have resulted in ... Read more >

STS 47th Annual Meeting Practice Management Summit: Navigating Hospital Employment, Health Care Reform
STS News, Winter 2010 -- The health care environment is in the midst of substantial change—change that may herald a fundamental shift in the practice of cardiothoracic surgery. Our cardiology colleagues, once defiant supporters of entrepreneurial health care ... Read more >

STS Practice Management Pearls: Hospital Employment - The Final Chapter?
STS News, Summer 2010 -- This installment of Practice Management Pearls does not take a stand on hospital employment, but rather promotes preparation, starting with a full understanding of your market, and offers some thoughtful lessons learned to consider before choosing the best long-term practice mode for your situation ... Read more >

Physicians Largely Exempted from FTC 'Red Flags Rule' Compliance 
Last year, the President signed the Red Flag Program Clarification Act of 2010 (P.L. 111-319) into law. The Clarification Act redefined the term “creditor” in a manner that substantially limits the application of the Federal Trade Commission’s Red Flags Rule to physicians.... Read more >