As graduates of any medical academic pursuit know, it was hard enough learning what you needed to get into this industry. And it’s not as if you thought for a second that it was going to be a breeze from here on out, I’m sure.
But there are a number of concerns and complications on the road ahead of you that you may not have considered. You need to be prepared for these as you enter the healthcare industry. Have a look through this guide to the most pressing problems new doctors will be facing in 2016 and beyond. Start preparing as soon as you can!
The first and most pressing issue for a medical graduate is the amount of student debt they have. Not only was medical school long and difficult, it was also expensive. Most recent graduates of medical schools are burdened with a six-figure student debt.
It’s important to look into any methods you can if you want to know how to pay for medical school. By making things easier earlier, you’ll be able to start saving for your future earlier.
If you’re a medical school graduate, then I’m assuming you will have heard about ICD-9. This refers to the specific set of codes used for the International Statistical Classification of Diseases. It had been in use since 1979. Getting your head round it all will have been a gargantuan task. Institutions all over the world have been using the new revision, ICD-10, for as long as a decade. But the United States have only implemented it in the past year.
Many institutes in the United States are still in the process of implementing this new system. This, in itself, will mean a lot of work for new physicians and medical data professionals. For many others in the industry, complying to ICD-10 will require more paperwork than ICD-9 did.
You will, no doubt, have heard of Medicaid. It has both affectionately and disparagingly been referred to in the media as Obamacare. I’ll use the term Medicaid, though – seems more professional, no? Medicaid has done some great things, no doubt about it. It’s opened the previously locked-tight doors of accessible health insurance to millions. But it definitely has some wrinkles that need to be ironed out.
One of these is the effect on pay that many doctors will be experiencing. As patients are paying less, doctors will, in turn, be paid less. Some see this as a necessary step in ensuring a step towards wider access to healthcare. But it’s proved to be a difficult step for many. Research Medicaid reimbursements to keep a step ahead.
Technology has obviously done a lot of good for the healthcare industry. But it’s also brought along a few complications. A lot of this has to do with data risks. Unprotected WiFi hotspots, inadequate Internet security, and unsecured devices are all big risks. Patient information is now largely stored digitally, but this means you have a lot of new security measures you must take.
Making sure that the practice is compliant with HIPAA now includes ever-changing technological concerns. Make sure you know the risks!