Power 5 Week in Review: Watson, ePrescribing, and Nontraditional Payment Methods

Hard to believe it’s already Saturday again.

What does it mean for Power Your Practice? The conclusion of another busy week where we featured useful tips on how to add patients and expand your practice, the third installation of our Actionable Analytics series and fascinating articles on the latest in healthcare technology.

We kicked the week off with “How ePrescribing Could Save Billions in Health Care” costs, a rundown of the financial advantages associated with ePrescriptions, including an increase in patient first-fill medication adherence and healthcare industry savings between $140 and $240 billion over the next 10 years.

Next, we read about an emerging trend in healthcare technology in “Could IBM’s Watson Make You a Better Doctor.” The article imagines Watson, IBM’s Jeopardy-winning supercomputer, as a physician assistant of sorts, using natural language processing to scan, analyze and answer physician questions from over 200 million pages of medical data every three seconds.

Wednesday was a treat. We broke down three nontraditional payment programs to consider for your practice, outlining direct pay, concierge practicing and alternative currency approaches to patient payments. Think of bartering as a payment method. This alone should be enough to pique your interest.

Thursday featured the third edition of our Actionable Analytics series. This week, we shared information on how to implement an analytics system everyone at your practice is comfortable with, so staff members don’t have to dig nervously through boatloads of data.

Friday’s piece is very direct – “5 Easy Ways to Add Patients and Grow Your Business.” In it, we try to help physicians and practice managers by suggesting tips they can easily incorporate into their practice management plan, including establishing a social media presence, embracing technological change and engaging with new crowds.

Bookmark Power Your Practice if you haven’t already because next week we’re discussing the hidden costs behind client-server EHRs, patient no-show fees, another installation in our Analytics series and more!

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