Supply and demand pressures are rising when it comes to healthcare. Yes, healthcare has supply and demand in America, regardless of our opinions on this matter!
Yes, it does apply to healthcare, believe it or not. There are supply and demand pressures in pricing and in reimbursement, etc. There is even elasticity and inelasticity in cost and supply. In healthcare sometimes it can work backwards: like when more supply creates its own demand for services.
The one area that is an absolute is the power of the providers pen! In the American system only a credentialed provider can order tests, admit, discharge and even refer patients. Why is this sword so powerful, you ask? Because it comes attached to the providers license, education, their experience and their professional liability all of which have a cost! That cost needs to be covered by reimbursement! (Think beyond fee-for-service.) If you are being asked to participate in a program, a study, a new methodology and it needs a provider’s pen (the almighty order sword) to make it work you should be paid for it!
About R. Todd Welter • MS, CPC
Founder and President of RT Welter & Associates
Mr. Welter has over 25 years of healthcare industry experience assisting physicians and other providers, hospitals and other facilities with the business side of medicine. Through strategic planning and analysis, Mr. Welter’s main focus is to strategically increase revenues and profitability in this radically changing health care environment. Mr. Welter has a Masters Degree in Organizational Leadership from Regis University in Denver where he has had an appointment as affiliate faculty in the School for Professional Studies for over ten years. In addition, Mr. Welter holds a faculty appointment at the University of Denver’s University College. In the Health Care Leadership program he teaches Macro Economics in Health Care and Innovative Strategies and Change in Health Care to graduate students.