It’s a new year and a good time to take a look at what’s happening in the field of podiatry and how those changes may impact your practice and your bottom line. Below are some trends for 2023:

Staff Shortages—In the “Great Resignation” many employees have decided to leave healthcare positions in exchange for lower-stress jobs. In fact, 58% of medical practices anticipate that staffing will be their biggest challenge in 2023. Decreases in physicians, assistants, and podiatry students are all contributing to this shortage. This means taking good care of your team members will be essential. Avoiding overburdening staff and utilizing technology to decrease the clerical and billing workload will be essential.

Need for Increased Patient Engagement—Medical practices are still seeing Covid fallout in terms of patient behaviors. Many patients decreased their podiatric office visits during Covid and searched for at-home alternatives or sought podiatric care through other types of practitioners. Maintaining good patient relations is more important than ever. Studies show that patients want the ability to make appointments and pay their medical bills online. Making sure that the technologies and services you use for these are user-friendly and run smoothly will increase patient loyalty.

Declining Reimbursements—A recent survey by Podiatry Management showed that podiatrists are collecting on average 56% of their listed fees. Medicare, Medicaid, and private health insurers do not cover routine foot and ankle care to the same level as a primary-care physician visit. Podiatrists are becoming more dependent on patients’ out-of-pocket expenditures. Offering specialized services and above-average customer service will be critical in maintaining a healthy bottom line.

We wish you a happy New Year and hope it will be a profitable one for your practice!

We can help you avoid billing errors. A Step Above Health Management Systems provides specialized podiatric medical billing services to clients nationwide. Let our firm provide your practice with a plan customized to manage all your billing needs. Please call us at (877) 448-6233 to learn how our solution can save you money and help streamline your billing process.