Career and Life Planning Guidebook for Medical Residents

SECTION I: T MINUS THREE YEARS and opportunities. Others see no benefits, particularly specialists. And funding the reform — despite what politicians say— could portend an ominous future for physicians. It truly leaves physicians learning how to wield a double-edged sword. Although all physicians are likely to face the same pressures from the reform era as their colleagues, this guidebook provides you an opportunity to understand the landscape and take control of your mind and seek the solutions that align with your values. In the future of healthcare, physicians should be prepared to face any of the following challenges in the business of medicine: More public calls for improvements in clinical quality and better patient safety. More 24/7 public reporting on the internet of quality and cost-performance metrics. More regulatory oversight from state and federal governments that potentially impact clinical decision making. Squeeze in take-home pay as practice expenses rise and revenues are constrained. More multi-specialty groups will be formed by and with hospitals in an effort to prepare for accountable care. Exploding demands to rely on electronic medical records (EMRs) and actuarial data across care settings to better manage chronic disease. ACO’s demand for clinical integration will continue to move more physicians into leadership roles. Regulators and governing boards will demand more formal accountability and development of physician leaders as a means to successful physician alignment. Increasing need formore primarycare physicians to serve as patient population managers. The nation may therefore face the challenging irony of offering more coverage for more people, but having fewer physicians ready, willing and able to respond to the new needs and demands for care under the new reforms. The opportunity today for physicians is in integrating with provider networks, hospitals, health systems, ACOs, and other physician groups in order to better leverage with payers and engage in population health and value-based payment models. This may provide opportunities for care coordination and models in which nurse practitioners or other members of an interdisciplinary care team see the low-acuity/non-complex patients and free up more time for physicians to see the higher-acuity and more complex patients, without negatively affecting volume and therefore reimbursement. The faster we can get away from fee-for-service and into fee-for- value, the better for all involved. This is the future of care delivery. CAREER AND LIFE PLANNING GUIDEBOOK FOR MEDICAL RESIDENTS 100