AACE Learning Center Professional Resources-Small Group Endocrine Practice-in 10 minutes

Video Transcription

Video Summary

In a video, Dr. Reed Litchfield, an endocrinologist from Henderson, Nevada, discusses small group endocrine practice. He highlights the benefits of small group practice, especially for those interested in owning a practice. Dr. Litchfield suggests that new practitioners use their first job to learn about practice management and offers to assist with administrative responsibilities in order to be welcomed and make their aspirations known. He emphasizes the importance of learning about payers and contracting and recommends training on coding and billing. Dr. Litchfield emphasizes the importance of reputational management within the practice, with referring doctors, and with patients. He also discusses integrating electronic health records effectively and working with advanced practice providers (APPs), stressing the need for careful selection and proper training. He suggests collaborative practice with APPs, which can increase bottom line revenue. Dr. Litchfield advises against using terms like "mid-level" and "physician extender" when referring to APPs, and emphasizes the importance of providing high-level, team-based care. He concludes by stating that small group practice offers opportunities for greater control and influence, but non-clinical administrative responsibilities are necessary for it to be functional and profitable.

Asset Subtitle

W.Reid Litchfield

Keywords

small group endocrine practice

practice management

coding and billing

reputational management

collaborative practice