If you have a practice that has grown so much that you are unable to provide same day appointments when needed, or are turning new patients away then a mid-level provider, such as a physician assistant (PA) or nurse practitioner (NP), can help your practice to grow. You may find that you are seeing more patients than you can comfortably provide for, or are looking to focus on more challenging cases, or wanting to develop your expertise in a certain area; in all of these cases a mid-level provider may be the answer you need. The healthcare system is facing a significant shortage of physicians. Under a reformed healthcare system, the most cost-effective way to increase the number of patients receiving medical care is by hiring mid-level providers.
Medical facilities are struggling to cope with increased patient loads, a shortage of physicians, keeping costs under control, and increasing revenues. Nurse practitioners and physician assistants are in high demand because they can help to solve all these problems and help your practice to run smoothly and efficiently. While an NP and a PA are both advanced-practice providers, there are some slight differences between the two, and those differences may be important to understand for your practice needs.
Physician assistants may diagnose illnesses and injuries, perform physical exams, and provide treatment plans, but must do all of this under the supervision of a physician. Nurse practitioners may do all of that, but they emphasize preventative medicine and promoting health, and in many states, they have full practice authority, meaning they can practice without physician supervision.
There are several benefits for your practice in hiring mid-level providers. Some of those benefits include improving the quality of care offered, greater patient access to care, enhanced patient satisfaction, improved physician work-life balance, and boosting the revenue of your practice. Hiring a mid-level practitioner can make more sense than adding physicians, because a mid-level practitioner can generate significantly more revenue at a much lower salary cost. Typically, mid-levels can generate up to 3 times their salary, where physicians only generate roughly double their salary. There are also significant savings in liability coverage for mid-level providers, the cost is roughly one-third of that for physicians.
A mid-level provider is not a replacement for a physician, they are a compliment. Across all medical specialties, mid-levels can aid in diagnostic work-up, managing symptoms, providing education, and patient communication. This allows the physician to focus on the technical aspects of patient care, provides them with greater flexibility on their clinical schedules, and improves their job satisfaction. With the shortage of physicians, physician burnout is one of the largest concerns for maintaining quality physicians.
Physician practices must change the way they deliver care as the healthcare environment continues to evolve. With the shortages of physicians, the aging population, and the increased access to health insurance, there are more patients with fewer providers. Genesis Medical Management recommends mid-levels providers as a beneficial option for growing and improving your medical practice. The healthcare solutions experts at Genesis Medical Management provide innovative, personalized healthcare solutions.
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