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Physician practice viability under threat: AMA survey

By Carly Behm for Becker’s Hospital Review

A survey of 3,500 physicians by the American Medical Association looked at physician practice viability. Here are five key figures from results shared Oct. 28:

  1. Eighty-one percent of physicians surveyed in July and August said revenue remained lower than before the COVID-19 pandemic hit.
  2. Despite an uptick in telehealth visits, about 70 percent of physicians reported fewer visits total.
  3. Average in-person visits fell to 57 per week, compared with 95 weekly visits before the pandemic.
  4. Spending on personal protective equipment went up 50 percent or higher for about 2 out of 5 practice owners, but 36 percent reported difficulty for obtaining PPE.
  5. Nearly all physicians surveyed found federal financial relief helpful, but core revenue issues remain.

“Physician practices continue to be under significant financial stress due to reductions in patient volume and revenue, in addition to higher expenses for supplies that are scarce for some physicians,” AMA President Susan Bailey, MD, said in a statement. “More economic relief is needed now from Congress as some medical practices contemplate the brink of viability, particularly smaller practices that are facing a difficult road to recovery.”

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Why Investing in EHR Solutions Featuring Speech Recognition is Beneficial For Providers

By MarketScale

The healthcare industry is constantly in search of new software and EHR solutions to increase patient care and minimize the amount of time clinicians spend on these clerical tasks, promoting better outcomes.

According to the American Medical Association, about 44% of physicians experience burnout in their practice, and part of that is attributed to administrative duties and data entry. In order to help combat this burnout, we’re going to explore the wide variety of benefits speech recognition can provide.

Today, voice recognition is a critical technology within electronic health record (EHR) solutions. Voice recognition can save critical time and money to further help improve productivity.

The Benefits of Investing in Speech Recognition

EHR speech recognition allows physicians to capture notes at the time of care or in between appointments, which can maximize efficiency.

There are many benefits to investing in EHR speech recognition, including:

  • Reduced Overhead Costs
    The average physician can save anywhere between $30,000-$50,000 a year by eliminating transcription services and using EHR voice dictation.
  • Faster Turnaround Times
    Less time spent on patient documentation means more time spent face-to-face with patients.
  • Reduced Manual Labor and Data Entry
    EHR voice dictation provides quicker outputs and minimizes stress.
  • Improved Accuracy
    EHR speech recognition produces higher quality documentation and gets better with time.
  • Better Overall Communication
    The enhanced technology allows for better communication with referring physicians and insurance companies, which leads to higher reimbursement rates.
  • Increased Clinician Satisfaction
    The reduced workload has led to an overall positive experience with caregivers.

EHR solutions that are paired with voice recognition technology eliminate the need for dictation and transcription services altogether. Using artificial intelligence, voice recognition technology is programmed to receive command-based responses from physicians about patient symptoms, procedures and treatment plans.

The software is then able to process and capture documentation narratives, including medical terminology and medications, as well as detect various accents and dialects to deliver automated outputs into specific data fields.

With conventional EHR solutions that don’t utilize voice recognition, physicians can spend, in some cases, up to 12 minutes navigating the system and manually entering data to process notes for one patient.

With voice dictation, that time gets significantly reduced to 90 seconds or less, because it’s easier to use and requires less error-management.

Case Studies Highlight Real-World Performance

A recent KLAS Performance Report gathered feedback from customers of three speech recognition providers.

Overall findings showed that customers were highly satisfied, noting “positive usability, engaged support, price, integration, and functionality.”