{
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  "sourcesContent": ["import{jsx as e,jsxs as t}from\"react/jsx-runtime\";import{Link as a}from\"framer\";import{motion as i}from\"framer-motion\";import*as n from\"react\";export const richText=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"The decision between ownership and employment remains one of the most critical career choices for physicians, particularly as \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/leadership/the-crisis-of-physician-pay-cuts/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"reimbursement strains\"})}),\" and \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/asc-news/medical-group-costs-jump-14-7-exceeding-revenue/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"practice costs\"})}),\" push some in the workforce toward \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/leadership/where-have-all-the-independent-physicians-gone/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"employed\"})}),\" models.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"Jeremy Shiner, founder and CEO of Myriad Systems, a technology and software company that provides AI-driven practice management solutions, joined \",/*#__PURE__*/e(\"em\",{children:\"Becker\u2019s \"}),\"to discuss the financial and operational challenges, key factors and long-term considerations in navigating this choice.\"]}),/*#__PURE__*/e(\"p\",{children:\"Over the last 20 years, practice costs have skyrocketed, Mr. Shiner said \u2014 including the cost of malpractice insurance, lawsuits, office space and medical equipment. Meanwhile, reimbursements are declining and patient payments are lower than ever.\"}),/*#__PURE__*/e(\"p\",{children:\"\u201CThat paradigm keeps getting more and more and more lopsided against the profitable practice and that old sort of cliche that doctors make a lot of money has, sadly, somewhat gone away,\u201D he said.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"For physicians deciding between employment and independent practice, \",/*#__PURE__*/e(a,{href:\"https://www.beckersphysicianleadership.com/independent-practice/the-erosion-of-physician-autonomy.html\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"autonomy\"})}),\" is a major consideration. However, within large healthcare systems, autonomy is often limited.\"]}),/*#__PURE__*/e(\"p\",{children:\"\u201CThey want to be able to make their own decisions about healthcare interventions, medical equipment, pharmaceuticals and the overall path of care,\u201D he said. \u201CYet a huge majority of physicians who enter large healthcare systems report being unhappy. And the number one reason they cite is lack of autonomy.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"According to a \",/*#__PURE__*/e(a,{href:\"https://www.bain.com/insights/boosting-physician-satisfaction-lessons-from-physician-owned-practices/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"survey\"})}),\" from consulting firm Bain & Co., nearly 25% of physicians in health system-led organizations are contemplating a change in employers, compared to just 14% in physician-led practices. Of those considering a switch, 37% are looking to move to physician-owned settings.\"]}),/*#__PURE__*/t(\"p\",{children:[\"Additionally, 61% of employed physicians said they have moderate or no autonomy to make referrals outside of their practice or ownership system, and 47% said they adjust patient treatment options to reduce costs based on practice policies or incentives, according to a \",/*#__PURE__*/e(a,{href:\"https://www.beckersphysicianleadership.com/private-equity/nonphysician-practice-ownership-worsens-quality-of-care.html\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"survey\"})}),\" from NORC at the University of Chicago.\"]}),/*#__PURE__*/e(\"p\",{children:\"Additionally, while employment in a hospital or healthcare system offers stability, it lacks the same long-term financial upside as ownership.\"}),/*#__PURE__*/e(\"p\",{children:\"\u201CWe often discuss how physicians in physician-led practices tend to earn slightly better salaries, but many statistics don\u2019t fully address the earnings of the doctors who actually own and run those practices,\u201D he said. \u201CWhile it can be difficult to turn a profit, there\u2019s significant potential \u2014 especially when it comes to building generational wealth. That opportunity disappears entirely if all physicians are employees.\u201D\"}),/*#__PURE__*/e(\"p\",{children:\"The need for hospital employees is still there, Mr. Shiner emphasized, but the financial opportunities are often lacking.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"\u201CI\u2019m not at all against hospital systems,\u201D he said. \u201CThey do incredible work and save lives. But I also believe there\u2019s room for both models. When we go too far toward one extreme, the weaknesses of that model start to become apparent, just as it happens in any industry.\u201D\"}),/*#__PURE__*/e(\"p\",{children:\"Beyond financial considerations, Mr. Shiner said independent practice allows physicians greater flexibility to explore new treatment methods, research opportunities and innovative care models.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"\u201CPhysicians want to explore new treatment methods, develop better ways to deliver care and make meaningful discoveries,\u201D he said. \u201CThat\u2019s much harder to do under the constraints of a corporate system with strict policies dictating what can and cannot be done.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"The balance between ownership and employment is a \u201Cshifting pendulum,\u201D Mr. Shiner said. While the healthcare industry has leaned heavily toward consolidation and employment in recent years, there are signs of countertrends \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/leadership/a-private-practice-revival/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"emerging\"})}),\".\"]}),/*#__PURE__*/e(\"p\",{children:\"\u201CThere\u2019s always a swing in one direction, and then a swing back the other way,\u201D he said. \u201CThat\u2019s why I try not to overreact to these shifts, because at some point there\u2019s always going to be a correction.\u201D\"}),/*#__PURE__*/e(\"p\",{children:\"Ultimately, Mr. Shiner emphasized that the decision between ownership and employment is a deeply personal one.\"}),/*#__PURE__*/t(\"p\",{children:[\"\u201CAs a provider, a business owner or a young doctor choosing a career path \u2014 or even an experienced doctor considering a change \u2014 you have to ask: Which side of that paradigm do I want to be on? What do I believe in? How do I want to practice medicine?\u201D he said. \u201CHopefully, this choice is empowering and the outcome fulfilling.\u201D\\xa0\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"Original article at \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/leadership/the-shifting-pendulum-of-physician-independence/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Becker's Asc Review\"})})]})]});export const richText1=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"As independent physician practices face mounting financial and administrative pressures, AI-driven solutions are emerging as a powerful tool to level the playing field.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"Jeremy Shiner, founder and CEO of Myriad Systems, a technology and software company that provides AI-driven practice management solutions, joined \",/*#__PURE__*/e(\"em\",{children:\"Becker\u2019s \"}),\"to discuss how AI is making independent practice more viable than ever.\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Question: How are AI-driven solutions, like the ones your company is developing, helping make physician ownership more viable?\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Jeremy Shiner: \"}),\"For me, it comes down to two major areas. The first is revenue cycle management, which is arguably the most important, and the second is clinical documentation and administrative work.\"]}),/*#__PURE__*/e(\"p\",{children:\"I\u2019ll start with revenue cycle management. Given the paradigm we just laid out \u2014 with costs going up and payments going down \u2014 if we can leverage not just AI but also automation and psychology (which we\u2019ve been doing for some time), we can drive more payments at the time of treatment.\"}),/*#__PURE__*/e(\"p\",{children:\"I learned a lot of these techniques from the early days of payment processing in healthcare practices from my father\u2019s company, Rectangle Health. If we can implement strategies like real-time insurance card scanning, eligibility checks and algorithms that accurately estimate patient portions \u2014 ensuring transparency and giving patients options \u2014 it empowers them and makes them feel in control. By using live animations and illustrations to explain benefits in a digestible way, patients are more likely to pay at the time of treatment.\"}),/*#__PURE__*/e(\"p\",{children:\"If they can\u2019t pay their estimated portion up front, we can use custom Visa/Mastercard-approved pre-authorization to store their card in a compliant way for future insurance balances. This ensures transparency and communication, so instead of receiving a bill in the mail and ignoring it or getting sent to collections (which, as we discussed, is harder than ever), patients either pay today, guarantee payment, or indicate that they can\u2019t do either \u2014 allowing the office to address the situation proactively.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Q: This seems like something hospitals might not be nimble enough to offer, I would imagine?\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"JS:\"}),\" Yeah, a lot of hospitals don\u2019t surprise me in this regard. Some of these previously physician-led practices \u2014 some of them even my own doctors \u2014 have been taken over by big hospitals in Westchester County. These hospitals have some of the most archaic payment systems.\"]}),/*#__PURE__*/e(\"p\",{children:\"Many of them use Epic for their EHR, which is an incredible system, but they still have a patchwork of different systems for various functions. That\u2019s often because they\u2019ve inherited some systems from the doctors when they acquired the practice while still maintaining their own legacy systems. Even they struggle with integration.\"}),/*#__PURE__*/e(\"p\",{children:\"So I think we\u2019ll see an evolution on both sides \u2014 within private practices and in hospital technology \u2014 where sophistication and automation are starting to be implemented. Surprisingly, despite their vast resources, hospitals don\u2019t always have these systems in place.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Q: How does this AI make independent practice more appealing compared to hospital employment?\\xa0\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"JS: \"}),\"Many providers report that anywhere from 20% to 50% of their time is spent on clinical documentation, depending on their specialty. Of course, there\u2019s variance between specialties, but looking at general self-reported measures, this is a huge issue. With MIPS, meaningful use requirements, malpractice lawsuits and the scrutiny placed on clinical notes, documentation needs to be robust and accurate. At the same time, it takes a tremendous amount of effort, and insurance reimbursement rates simply don\u2019t justify that level of time investment.\"]}),/*#__PURE__*/e(\"p\",{children:\"From a business standpoint, this is a major factor pushing providers toward management companies or hospital systems that can offload that burden \u2014 or at least afford to hire scribes for them.\"}),/*#__PURE__*/e(\"p\",{children:\"On the documentation side, our system offers generative charting, where providers use templates, and the system writes the entire note based on their inputs. There\u2019s also chat-style charting, similar to what you might have seen with ChatGPT \u2014 but in a closed-circuit environment. Providers can type in information, add patient forms, past notes, history, macros, and codes, and the system generates a complete narrative, automatically mapping it to the appropriate sections, such as a SOAP note. It can even suggest codes. What used to take an hour and a half per encounter \u2014 depending on the provider and their charting style \u2014 can now take just five minutes.\"}),/*#__PURE__*/e(\"p\",{children:\"Beyond that, there\u2019s ambient listening technology. We\u2019re not the only ones using this, but essentially, a microphone in the office transcribes the entire appointment in a HIPAA-compliant manner, turns it into a narrative format, and maps it to the provider\u2019s chosen note structure \u2014 whether that\u2019s H&P, SOAP, or another preferred format.\"}),/*#__PURE__*/e(\"p\",{children:\"What\u2019s unique about our system is that it\u2019s fully closed-circuit. A lot of AI platforms popping up now generate notes that providers have to copy and paste into their EHRs, but our system keeps everything internal. We don\u2019t pass data to a third-party LLM \u2014 we host a medically trained model on our own servers and continuously train it. This ensures constant improvement and customization based on provider preferences.\"}),/*#__PURE__*/e(\"p\",{children:\"It also understands patient demographics and past health information from intake forms. If a patient fills out their intake on an iPad in the office or remotely on their phone, our system pulls that data and turns it into real-time narratives that the provider can integrate into the note.\"}),/*#__PURE__*/e(\"p\",{children:\"Since 30% to 50% of a note is often subjective \u2014 such as patient history, allergies, medications, and chief complaints \u2014 our system can automatically generate that portion. The provider then enters their objective findings, presses \u201CGenerate,\u201D and the full note is completed.\"}),/*#__PURE__*/e(\"p\",{children:\"This is a game changer \u2014 allowing providers to document efficiently in a fully HIPAA-compliant way without passing patient data to third parties. We even have two patents pending on how we use data and our algorithm-driven prompt system. Instead of relying on broad internet-trained AI models that risk hallucinations, our system operates solely within a controlled dataset.\"}),/*#__PURE__*/t(\"p\",{children:[\"For example, in mental health, some AI systems might infer dangerous assumptions \u2014 like turning a note that mentions \u201Cpatient shows signs of depression\u201D into \u201Cpatient has suicidal ideation.\u201D That\u2019s a serious risk. Our model is designed to avoid those pitfalls by contextualizing data properly, ensuring accuracy while still reducing administrative burden.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"Original article at \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/leadership/how-ai-tools-could-make-physician-ownership-more-viable/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Becker's Asc Review\"})})]})]});export const richText2=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"While physicians are increasingly opting for employed models, some are \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/leadership/whats-at-stake-when-physician-practices-cash-out.html\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"unhappy\"})}),\" with employment and are pivoting back to private practice.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"According to a \",/*#__PURE__*/e(a,{href:\"https://www.bain.com/insights/boosting-physician-satisfaction-lessons-from-physician-owned-practices/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"survey\"})}),\" from consulting firm Bain & Co., nearly 25% of physicians in health system-led organizations are contemplating a change in employers, compared to just 14% in physician-led practices. Notably, of those considering a switch, 37% are looking to move to physician-owned settings.\"]}),/*#__PURE__*/t(\"p\",{children:[\"\u201CWe\u2019ve seen this trend empirically,\u201D Jeremy Shiner, founder and CEO of Myriad Systems, a provider of AI-driven healthcare practice management solutions, told \",/*#__PURE__*/e(\"em\",{children:\"Becker\u2019s.\"}),\" \u201CThis shift is evident not only in direct primary care and physician-led concierge practices but also among providers who might not appear in the statistics \u2014 those working in hospitals while also running concierge practices on the side. The common assumption that private healthcare is disappearing in favor of hospital systems isn\u2019t as clear-cut when we observe what\u2019s happening in the field with our clients.\u201D\"]}),/*#__PURE__*/e(\"p\",{children:\"Mr. Shiner has observed several factors driving this trend: autonomy, quality of care and physician burnout.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"\u201CProviders increasingly feel they\u2019re losing control over care quality and patient outcomes \u2014 the very reasons they entered medicine in the first place,\u201D Mr. Shiner said. \u201CInstead of a simple consolidation trend, we\u2019re seeing a bifurcation in healthcare. While large hospital systems and corporate entities offer accessibility and advanced medical equipment, there\u2019s also a growing push for more personalized, patient-centered care in physician-led practices. Patients are driving this shift as well, seeking stronger relationships with their doctors and, in some cases, premium concierge care.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"Mr. Shiner told \",/*#__PURE__*/e(\"em\",{children:\"Becker\u2019s \"}),\"that the statistics on physician employment are often skewed, as many physicians working in hospitals offer concierge care or other ancillary services on the side.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"\u201CIt\u2019s an interesting phenomenon, and one that isn\u2019t widely discussed, partly because many doctors aren\u2019t advertising it,\u201D he said. They\u2019re not necessarily violating contracts, but they also aren\u2019t broadcasting the fact that they split time between hospital shifts and their own private practice.\u201D\"}),/*#__PURE__*/e(\"p\",{children:\"Many physicians do this for financial and professional reasons, Mr. Shiner said. From a data perspective, this group often gets overlooked. When surveys ask, \u201CDo you work at a hospital?\u201D they answer yes even if they are simultaneously moving toward independent practice.\"}),/*#__PURE__*/e(\"p\",{children:\"\u201CWe see this most frequently with providers working in nursing homes,\u201D he said. \u201CThey may be contracted with a nursing home, operate under a separate billing module and EHR system, and then provide concierge care or home visits on the side. We\u2019ve worked with at least 30 to 40 practices set up this way, and many more have approached us to explore the logistics of transitioning to independent practice.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"An increase in consolidation is often linked to a lack of physician \",/*#__PURE__*/e(a,{href:\"https://www.beckersphysicianleadership.com/independent-practice/the-erosion-of-physician-autonomy.html\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"autonomy\"})}),\". According to a survey from NORC at the University of Chicago, 61% of employed physicians said they have moderate or no autonomy to make referrals outside of their practice or ownership system, and 47% said they adjust patient treatment options to reduce costs based on practice policies or incentives.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"The Bain & Co. survey found that 81% of physicians in physician-led organizations were satisfied with their involvement in strategic decision-making, compared to just 50% of those in health system-led practices.\"}),/*#__PURE__*/e(\"p\",{children:\"\u201C\u2019The traditional belief was that healthcare corporations and hospital systems may offer lower levels of care but at more affordable patient rates,\u201D Mr. Shiner said. \u201CHowever, the latter hasn\u2019t really materialized.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"A study published Jan. 17 in \",/*#__PURE__*/e(a,{href:\"https://jamanetwork.com/journals/jama-health-forum/fullarticle/2829224\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:/*#__PURE__*/e(\"em\",{children:\"JAMA Health Forum\"})})}),\" found that negotiated prices for office visits with hospital-affiliated physicians were, on average, 10.7% higher than those paid to independent physicians. Additionally, a separate \",/*#__PURE__*/e(a,{href:\"https://aimpa.us/wp-content/uploads/2024/09/Avalere-White-Paper-Medicare-Service-Use-and-Expenditures-Across-Physician-Practice-Affiliation-Models.pdf\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"study\"})}),\" by Avalere and the American Independent Medical Practice Association found that in 2022, Medicare expenditures for private equity-affiliated private practices were 9.8% lower than those for patients treated in hospital-affiliated practices.\"]}),/*#__PURE__*/e(\"p\",{children:\"\u201CNow, as hospital resources, private equity, venture capital and other investors continue to streamline operations in mid-to-large scale healthcare management systems, and with implementation of the technologies we\u2019ve been discussing, it\u2019s possible that patient costs in these settings could come down in the future.\u201D he said. \u201CHowever, for now, what these systems primarily offer is accessibility \u2014 which is important. We want patients to have access to care when they need it.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"Some physicians, seeking greater control over their practice, are opting out of employed models. Benjamin Stein, MD, co-founder and chairman of ASC development firm Capital Surgical Solutions, \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/asc-transactions-and-valuation-issues/from-corporate-buyout-to-thriving-asc-network-a-surgeons-success-story.html\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"pursued\"})}),\" independence after witnessing the changes at a former employer following its acquisition by a larger company.\"]}),/*#__PURE__*/t(\"p\",{children:[\"\u201CIt was an instant ignition for me,\u201D Dr. Stein told \",/*#__PURE__*/e(\"em\",{children:\"Becker\u2019s.\"}),\" \u201CI knew it wasn\u2019t good, and I knew other people felt the same way. So I wanted to create a system that addressed those issues.\u201D\"]}),/*#__PURE__*/e(\"p\",{children:\"Other physicians have followed a similar path. Susan Baumgaertel, MD, an internal medicine physician in Seattle, spent 25 years at The Polyclinic, a multispecialty practice that is now owned by Optum. As the practice grew under corporate ownership, she felt increasingly constrained in her ability to make clinical and operational decisions in the best interests of her patients and staff.\"}),/*#__PURE__*/t(\"p\",{children:[\"Following Optum\u2019s acquisition, \u201Ceverything was always \u2018grow bigger, grow bigger, grow bigger,\u2019 because growing bigger meant that we would be a bigger fish in the pond, which means it would be more favorable when we negotiated contracts with insurers,\u201D she told \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/asc-news/this-is-unsustainable-taking-back-physician-autonomy.html\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:/*#__PURE__*/e(\"em\",{children:\"Becker\u2019s\"})})}),\".\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Dissatisfied with the loss of autonomy, she left The Polyclinic in 2021 to launch myMDadvocate, an independent telemedicine and healthcare navigation practice.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"As physicians weigh the trade-offs between autonomy, financial stability and patient care quality, the resurgence of private practice suggests that the employed model could soon no longer be the default career path.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"Original article at \",/*#__PURE__*/e(a,{href:\"https://www.beckersasc.com/leadership/a-private-practice-revival/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Becker's Asc Review\"})})]})]});export const richText3=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/e(\"h5\",{children:'CEOCFO: Mr. Shiner, one of the first things on the Myriad website is \"We work to keep healthcare private and profitable.\" Why is that your focus?'}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" My background is in healthcare consulting and financial technology within healthcare. As you know from years ago when we spoke, my father was one of the early pioneers of credit card payments in doctors' offices and helped to work with private practices in new ways to get paid and to make care accessible to patients. We have all been patients as well. There is nothing against corporate healthcare; it is a huge movement in hospital systems. Dental service organizations (DSOs) from the dental end are coming in, as well as buying practices. About 60% of patients feel that they do not get the same level of care when they go into one of these large institutions versus when they go to a local doctor's office. In addition, doctors overwhelmingly feel - and the statistics show - that they lose autonomy and the ability to make healthcare decisions. The decisions are being made with the bottom line in mind often rather than the patient's health, including which procedures have an allowable return rate or which medical equipment has a better margin, not always which one helps the patient most.\"]}),/*#__PURE__*/e(\"p\",{children:\"We believe this private model of healthcare is not only ideal for the patient but in many ways, it is ideal for doctors. However, I think there is a real need for corporate healthcare in certain scenarios. Hospitals and emergency rooms are amazing things and they deliver a low cost of care but 14% fewer physicians than five years ago own a practice. When their salaries and their autonomy are tapped, it not only will hurt patient care in the short term but also in the long term. Many doctors are discouraging their children from going into medicine, so they will stop becoming doctors. That will hurt the American healthcare system. We have some of the best doctors in the world and people come from all over the world to see our doctors and our specialists. If we lose that it will be the last bastion of real supremacy of the American healthcare system. Patient outcomes will suffer.\"}),/*#__PURE__*/e(\"h5\",{children:\"CEOCFO: Are private practices looking for a better way?\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" We are seeing a huge move to direct primary care. Private practices are addressing the concern of lower reimbursement rates by going to a concierge model and charging a subscription fee. We see a huge push towards overall wellness clinics that have multi-specialties and esthetics built in to foster that relationship with the doctor or the provider that the patient is seeing to drive more cash flow from a business sense. Doctors are struggling to stay in business with the traditional and general provider model, which entails just seeing basic visits and billing insurance for them. We see a huge push towards augmentation with outside staff, which is probably the biggest development that I see as a resurgence back to private healthcare.\"]}),/*#__PURE__*/e(\"p\",{children:\"Now you see all these articles about private healthcare making a comeback. I have been screaming from the rooftops that it not only is going to make a comeback, it is going to make a huge comeback, which will be a migration back to private healthcare because of the need and demand. Where there is a demand for a market, you might add in one way and it will flow back. We are starting to see that happen now with some of the statistics I have read and cited with the satisfaction rate and what I listed with certain specialties and business models going fully private and they can do so with even the insurance-based practices by augmenting some of those costs.\"}),/*#__PURE__*/e(\"p\",{children:\"They are bringing in outside billing companies, bringing in virtual office managers and assistants. There is a huge development with them using AI to eliminate administrative burdens. The average provider spends about five to seven hours a day on documentation. If you can cut that down to thirty minutes to an hour, there will be more patients and it will be more feasible on the business side, running a private practice. That is what we are doing today and that is the movement we are seeing in the industry.\"}),/*#__PURE__*/e(\"h5\",{children:\"CEOCFO: How do your clients work with AI and what is the learning curve for both you and your clients?\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" We are learning every day as the rest of the industry is. Not that AI is a new technology but in its current form it is, and it is an ever-expanding technology. It is a constant growth curve for both us and the clients. The two main ways we are using AI are in cycle management and clinical documentation. These are the two biggest areas where providers report reasons for leaving private healthcare, that they were not being paid enough by patients and insurance companies and the administrative burden is too great running a practice, having all the medical compliance and malpractice risk, and having to make sure that they balance that and have proper documentation, and trying to see patients.\"]}),/*#__PURE__*/e(\"h5\",{children:\"\u201CWe are big believers in the marriage of technology and interpersonal touch. We are trying to use technology fueled by our service and all the things that we believe in. Our core tenants have not been replaced, usurped, or overtaken by AI or technology; they have been accelerated by it. We still do live training. We still do hands-on training and whatever we can do to help anybody whether or not they have been a super user of our system or not, we will always speak to the level of care and attention they get from our staff and we are proud of that.\u201D Jeremy Shiner\"}),/*#__PURE__*/e(\"p\",{children:\"When we spoke in 2022, we talked about having specialized healthcare programs to approach patients from a psychological perspective to get a card on file and set up flexible payment options to make care more accessible. Now we use AI in various ways. For example, when a patient comes in they do an Optical Character Recognition (OCR) scan, which recognizes text within a digital image. It takes the ID card and sends it in real-time to the insurance company and then sends back a dollar amount that the patient is going to owe, using custom algorithms and custom calculations to accurately calculate a patient's portion. Now the patient will have options based on what is best for them or the practice to either guarantee any amount the insurance doesn't cover with a Visa and MasterCard-approved authorization form, to pay in full today or even to defer payment and create a conversation with the office manager.\"}),/*#__PURE__*/e(\"p\",{children:\"The real-time illustrations and animations are right there from a kiosk in the office, whether there is a deductible, and why there is a co-insurance, so there is transparency. There is reciprocity between the practice and the patient where we can communicate these things upfront transparently in compliance with the No Surprises Act, and keep the patient paid up, happy, and treated and the practice coming back and bringing referrals.\"}),/*#__PURE__*/e(\"h5\",{children:\"CEOCFO: How prevalent is this today with all insurance companies working with what you offer, and how easy or difficult is it for potential clients to understand the benefits?\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" Upward of 98% of insurance companies offer live eligibility, where they can instantly check eligibility, and we have access to that data. While this is widely adopted today, the difference is that we are taking this data, running it through AI, and coming up with options for the patient. We are empowering the patient to be able to choose a way that works for them to pay for their treatment before they receive treatment and before they receive a surprise bill. This has been widely adopted today and our goal is to continue to make intuitive systems that patients can figure out whether it is from their cell phones or kiosks in the office. Both of these things are available through our system, which includes something as simple as scheduling because there is an administrative burden to all of this.\"]}),/*#__PURE__*/e(\"p\",{children:\"With our system, you can log in to a patient portal and easily request an appointment. We can send text automatically to a patient to remind them to schedule their check-up. They can go on your website, click a link sent for an appointment, and then sign in on a kiosk when they get in. They can fill out their forms from home or the office. It fits different use cases with different patients and different levels of technological savvy. Whether they need a little help in the practice or whether they are going to do it independently. There are different preferences and it feeds into how we are using AI in clinical documentation and clinical charting because when that patient fills out a form, we can take the data from the form and turn it into a narrative and a series of patent-pending custom prompts, it will turn that into a clinical narrative and the doctor can then choose whether or not to put in the clinical notes. We are writing the clinical note of the patient history right from the intake forms.\"}),/*#__PURE__*/e(\"p\",{children:\"When you go into a doctor's office today, you notice that many of them are antiquated with too many problems to figure out, and this is the reason that they sometimes throw their hands up and shift to an employee situation with a hospital network. We think we are solving many of them on one platform at one price point because when you go in, instead of them printing out an intake form and it to a new patient; you are sitting there filling it out and handing it back to them. You then scan it into their system and type it into a chart to put in your allergies, and medications manually. Our system automatically grabs that from an iPad or cell phone by putting it into the chart and feeding it through a language model, a custom healthcare-specific trained language model to write the beginnings of a clinical note. When the provider comes, they can put in their notes free-hand or transcribe that they can do hashtags for past clinical notes and which clinical forms to use, put enter and it completes the note. It even suggests codes. They always have final sign-off on all narratives and all coding, but diagnostic codes based on what has been put in and the exams that have been done in that encounter and procedural code based on those same criteria. Within a matter of minutes - not hours - they have a complete, compliant clinical note.\"}),/*#__PURE__*/e(\"p\",{children:\"They can also do it from templates because a lot of providers are using template-based charting with preset input. They choose their input and it feeds it into a simple narrative and then through the language model. It writes and maps a complex narrative back to the appropriate area or even ambient listening. There is a custom microphone that can be turned on in their office to transcribe by speaker what the doctor is saying, what the patients are saying, and what the provider is saying. It can adjust for multiple providers and even multiple patients. If there is a spouse in the room, it will take the full narrative and map it back to for example a SOAP (Subjective, Objective, Assessment, and Plan) note, map it to the appropriate areas of their desired note type which most of them are standard. All of this is specialty-specific. It knows exactly what type of provider you are, it knows your specialty code, and it writes it in a format that fits your needs. All of this is specialty-specific, so it knows exactly what type of provider you are, it knows your specialty code and it writes it in a format that fits your needs as a provider.\"}),/*#__PURE__*/e(\"h5\",{children:\"CEOCFO: It sounds hard to resist! What are the challenges in implementation, in reaching the doctors so that they understand and are not overwhelmed and recognize how important it is to embrace the trend and the future?\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" The biggest challenge is onboarding. We have had 1,400 providers sign up in just a year for this all-in-one system with health records and billing software. We are monetizing it just through the processing service fees which they pay for anyway. It is a powerful value proposition. Onboarding is difficult because there are Electronic Data Interchange (EDI) I enrollments for insurance, ePrescribe and Electronic Prescribing for Controlled Substances (EPCS) enrollment, there is training and there is patient adoption. We have developed a new onboarding system that we\u2019re excited to release in the first part of 2025. This onboarding wizard mechanizes every single step of onboarding right down to the new details. For example, when the provider first logs in, there are videos and tutorials right within the app, and there is a tasking system that is built for everyday practice management. The providers can assign their staff to different areas of the onboarding or even sign our staff if they have chosen to augment billing services or credentialing coding services.\"]}),/*#__PURE__*/e(\"p\",{children:\"We are big believers in the marriage of technology and interpersonal touch. I think what is happening is a lot of technology companies have lost sight of the interpersonal touch. When you look at social media, there is no phone number of human beings that you can speak to. I understand it is for scale but in a niche business - a service-based business like healthcare - a lot of companies have lost sight of how important it is to have somebody even just to listen to you when you are frustrated. These doctors and office managers are dealing with a lot. They have patients in front of them and they are trying to run a practice and learn a new system. Therefore, we have 24-hour support through chat where a live individual will always talk to you. We also have AI modules that can answer questions for you that can 4 answer things in the software from 8:00 am to 8:00 pm every day. We have a live representative who always picks up the phone.\"}),/*#__PURE__*/e(\"p\",{children:\"We are trying to use technology fueled by our service and all the things that we believe in. Our core tenants have not been replaced, usurped, or overtaken by AI or technology; they have been accelerated by it. We still do live training. We still do hands-on training and whatever we can do to help anybody whether or not they have been a super user of our system or not, we will always speak to the level of care and attention they get from our staff and we are proud of that.\"})]});export const richText4=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/e(\"h2\",{children:\"Are you at risk with how you\u2019re using AI in Healthcare?\"}),/*#__PURE__*/e(\"p\",{children:\"Artificial intelligence (AI) is rapidly revolutionizing healthcare, offering innovations that enhance patient care and streamline operations. As practices increasingly adopt AI, concerns about data security, regulatory compliance, and operational risks grow.\"}),/*#__PURE__*/e(\"p\",{children:\"Could your practice be exposing itself to unnecessary risks with how it\u2019s using AI?\\xa0This article explores the potential dangers and offers solutions to help you harness AI safely and effectively.\"}),/*#__PURE__*/e(\"h3\",{children:\"Why AI in Healthcare Comes with Risks\"}),/*#__PURE__*/e(\"p\",{children:\"AI\u2019s ability to analyze large datasets and assist with clinical tasks is transformative, but without the right safeguards, its use can pose serious challenges to your practice.\"}),/*#__PURE__*/e(\"h4\",{children:\"1. Data Security Breaches\"}),/*#__PURE__*/t(\"p\",{children:[\"AI systems often require access to sensitive patient information, but if this data is processed through external servers or third-party platforms, it can become vulnerable to cyberattacks. According to a study by \",/*#__PURE__*/e(a,{href:\"https://www.ibm.com/reports/data-breach\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Ponemon Institute and IBM\"})}),\", in 2023, the healthcare sector experienced an average data breach cost of $10.93 million, the highest among all industries\u200B\u200B. For smaller practices, a breach can lead to devastating financial losses and reputational harm.\"]}),/*#__PURE__*/e(\"h4\",{children:\"2. Compliance Violations\"}),/*#__PURE__*/t(\"p\",{children:[\"Healthcare providers must adhere to stringent regulations like HIPAA to protect patient data. However, many AI solutions are not designed with these compliance standards in mind. According to the \",/*#__PURE__*/e(a,{href:\"https://www.ftc.gov/news-events/topics/protecting-consumer-privacy-security/privacy-security-enforcement?\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Federal Trade Commission (FTC)\"})}),\", enforcement of health data privacy violations has become a priority, with fines and penalties increasing in recent years\u200B\u200B. Non-compliance could mean hefty fines, loss of patient trust, and potential legal action.\"]}),/*#__PURE__*/e(\"h4\",{children:\"3. Operational Challenges\"}),/*#__PURE__*/t(\"p\",{children:[\"While AI promises efficiency, poorly integrated systems often create more problems than they solve. Mismanagement of AI workflows can lead to errors or delays in care. The \",/*#__PURE__*/e(a,{href:\"https://www.news-medical.net/news/20240123/AI-risks-in-healthcare-Misdiagnosis-inequality-and-ethical-concerns.aspx?\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"World Health Organization (WHO)\"})}),\" highlights the risks of inadequate oversight in AI adoption, which can compromise patient safety\u200B\u200B. \u201CArtificial intelligence is a low-cost, high-impact tool that has the potential to transform the cost-benefit equation in healthcare. For smaller practices, where providers often wear multiple hats, AI can deliver immense value by streamlining operations and improving efficiency without adding unnecessary complexity,\u201D said Jeremy Shiner, Founder and CEO of Myriad Systems. This underscores why it\u2019s essential to choose AI solutions tailored for healthcare\u2014especially for smaller practices balancing numerous responsibilities. By doing so, providers can avoid these risks and unlock AI\u2019s full potential.\"]}),/*#__PURE__*/e(\"h3\",{children:\"How to Use AI Without the Risks\"}),/*#__PURE__*/e(\"p\",{children:\"The good news? It\u2019s possible to leverage AI\u2019s benefits while minimizing risks. The key is selecting the right tools and implementing best practices for security and compliance.\"}),/*#__PURE__*/e(\"h4\",{children:\"1. Keep Data Secure and In-House\"}),/*#__PURE__*/t(\"p\",{children:[\"AI solutions that process patient data through external servers expose it to greater risks. By choosing tools like \",/*#__PURE__*/e(a,{href:\"https://myriadsystems.ai/myriad-health/features#myscribe-ai\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"MyScribe AI\"})}),\"\u2014designed to operate entirely within the \",/*#__PURE__*/e(a,{href:\"https://myriadsystems.ai/myriad-health\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Health\"})}),\" system\u2014you can ensure sensitive information stays within your practice\u2019s infrastructure, \\xa0ensuring data security.\"]}),/*#__PURE__*/e(\"h4\",{children:\"2. Choose Healthcare-Specific AI\"}),/*#__PURE__*/t(\"p\",{children:[\"Not all AI systems are created equal. General-purpose solutions often lack the features and safeguards required for healthcare. \",/*#__PURE__*/e(a,{href:\"https://myriadsystems.ai/myriad-health/features#myscribe-ai\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Health\"})}),\" has developed a model that is medically trained and specifically built to meet industry standards, ensuring seamless integration with your practice and full compliance with HIPAA regulations\u200B.\"]}),/*#__PURE__*/e(\"h4\",{children:\"3. Monitor and Evaluate Regularly\"}),/*#__PURE__*/t(\"p\",{children:[\"Even the best AI systems require ongoing evaluation to ensure security and effectiveness. Regular monitoring for vulnerabilities helps maintain compliance and adapt to evolving regulations. The \",/*#__PURE__*/e(a,{href:\"https://www.nih.gov/news-events/news-releases/nih-findings-shed-light-risks-benefits-integrating-ai-into-medical-decision-making?\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"National Institutes of Health (NIH)\"})}),\" stresses the importance of frequent assessments to mitigate risks\u200B\u200B.\"]}),/*#__PURE__*/e(\"h3\",{children:\"What Happens If You Ignore the Risks?\"}),/*#__PURE__*/e(\"p\",{children:\"Imagine your practice uses an AI platform that processes patient data externally. While the technology might work well initially, a single breach could expose thousands of patient records, leading to severe regulatory penalties and loss of trust.\"}),/*#__PURE__*/e(\"p\",{children:\"AI is a double-edged sword\u2014it\u2019s transformative when used responsibly, but dangerous when implemented carelessly.\"}),/*#__PURE__*/e(\"h2\",{children:\"Protect Your Practice with Myriad Health\"}),/*#__PURE__*/e(\"p\",{children:\"You don\u2019t have to choose between innovation and security. Myriad Health\u2019s AI solutions are designed to empower your practice while keeping patient data safe.\"}),/*#__PURE__*/e(\"p\",{children:\"Our integrated tools ensure:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"10px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Data Security\"}),\": Patient information stays within your practice, protected from external threats.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"10px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Regulatory Compliance\"}),\": Designed with healthcare regulations in mind, our AI simplifies HIPAA compliance.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"10px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Peace of Mind\"}),\": We handle the complexities of AI so you can focus on delivering exceptional care.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Harness AI without the risks; \"}),/*#__PURE__*/e(a,{href:\"https://myriadsystems.ai/contact\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:/*#__PURE__*/e(\"strong\",{children:\"contact\"})})}),/*#__PURE__*/e(\"strong\",{children:\" Myriad Health to learn more.\"})]})]});export const richText5=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"WHITE PLAINS, N.Y.--(\",/*#__PURE__*/e(a,{href:\"https://www.businesswire.com/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"BUSINESS WIRE\"})}),\")--\",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2F&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=Myriad+Systems&index=1&md5=4879d4abb570c983fd6f9808e2b5e493\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Systems\"})}),\", a leader in healthcare practice management software and services, announces new AI-powered enhancements designed to reduce the time and effort needed for compliant clinical documentation. A comprehensive set of features for \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fmyriad-health&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=Myriad+Health&index=2&md5=27c12f140b2ef41e64b34885e86187da\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Health\"})}),\", \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fmyriad-health%2Ffeatures%23ai-charting&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=MyScribe+AI&index=3&md5=f94ccbab1cadc060997a80d7e110e4d4\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:/*#__PURE__*/e(\"strong\",{children:\"MyScribe AI\"})})}),\" enables providers to chart using their preferred method and quickly generate accurate clinical narratives and suggestive coding.\"]}),/*#__PURE__*/t(\"h5\",{children:[/*#__PURE__*/e(\"br\",{}),'\"Myriad Systems is applying innovative AI capabilities across our solutions, ensuring data integrity and security while freeing providers to focus on what truly matters \u2013 patient care,\u201D said Jeremy Shiner, founder and president of Myriad Systems.']}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),\"According to the \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Famia.org%2Fnews-publications%2Famia-survey-underscores-impact-excessive-documentation-burden&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=American+Medical+Informatics+Association&index=4&md5=3494d3bac475022eecdd1d2279d97858\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"American Medical Informatics Association\"})}),\", 74.4% of providers say documentation impedes patient care and 77.4% report working late or at home to complete it.\"]}),/*#__PURE__*/t(\"p\",{children:[\"\u201CProviders face immense pressures, and documentation is a major contributor to burnout,\u201D said \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fteam&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=Jeremy+Shiner&index=5&md5=49633600e7f417119754ea60a5cc6aa5\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Jeremy Shiner\"})}),\", founder and president of Myriad Systems. \u201CMyriad Systems is applying innovative AI capabilities across our solutions to lift these burdens, ensuring data integrity and security while freeing providers to focus on what truly matters \u2013 patient care.\u201D\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"Providers maintain full control over their experience as MyScribe AI aggregates and curates data using only provider-designated inputs. With one click, MyScribe AI transforms selected data into narratives and then maps it to the corresponding section of the clinical note, which providers can review and approve before finalizing.\"]}),/*#__PURE__*/t(\"p\",{children:[\"A self-contained system, MyScribe AI is crafted to maintain content accuracy with controls around accessing outside information, virtually eliminating instances of hallucinations. Data is securely stored on Myriad Systems\u2019 HIPAA-compliant servers to protect information from being shared with outside entities or AI aggregators. 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The ONC certification coupled with this broad level of AI capabilities in an all-in-one solution puts Myriad Health in a unique class within health IT.\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"strong\",{children:\"Enhancing clinical documentation\"})}),/*#__PURE__*/t(\"p\",{children:[\"A proprietary system powered by a medically trained language model\",/*#__PURE__*/e(\"strong\",{children:\", \"}),\"MyScribe AI pulls data from templates, patient histories, treatment plans, codes, vitals and more. All charting methods are integrated across Myriad Health.\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Generative Charting\"}),\": Providers input brief segments for each section of a clinical note (e.g., SOAP format), then MyScribe AI enhances these sections, generating a structured note with selected data.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Chat-Style Charting\"}),\": Providers enter prompts and select inputs, which MyScribe AI transforms into detailed notes, mapping data to the appropriate sections (e.g., intake entries to subjective notes).\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Ambient Transcribing\"}),\": MyScribe AI transcribes patient interactions in real-time, creating and mapping structured narratives that providers can review and adjust as required, reducing the need for post-visit documentation.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"On-Demand Enhancements\"}),\": In the standard clinical note area, providers can transcribe or type a full note. Before signing, they can leverage MyScribe AI to enhance sections or the entire note for consistent formatting and improved syntax.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Template Narratives\"}),\": MyScribe AI converts simple template-based inputs into rich narratives. Providers may include or exclude patient-completed forms.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"AI-Driven Coding\"}),\": MyScribe AI suggests CPT and ICD-10 codes based on existing data and narratives.Myriad Health\u2019s \",/*#__PURE__*/e(\"strong\",{children:\"Doctor ClearCare\"}),\" is a friendly character to help patients understand balances with real-time eligibility information. This feature employs advanced AI to estimate patient balances prior to treatment in compliance with the No Surprises Act, including the AEOB for in-network visits and Good Faith Estimates for out-of-network patients. Doctor ClearCare delivers personalized information to the patient during the check-in process through a customized mobile device or kiosk.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"\u201CTechnology for patient care and office use is essential in today's medical practice,\u201D said \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fdr-john-brummer-dpm-40a5b7a%2F&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=Dr.+John+Brummer&index=7&md5=5ec8d90818a8849e721d7852d0143e88\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Dr. John Brummer\"})}),\", DPM, president of Brummer Surgical Podiatry in New York. \u201CThe comprehensive Myriad Health EHR with these AI capabilities has the potential to transform how providers chart and run practices.\u201D\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fmyriad-health&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=Myriad+Health&index=8&md5=9d4c0d09745f895e33668ca16092cab7\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Health\"})}),\" helps practices streamline workflows, improve efficiencies and ensure proper payment. Myriad Health provides a thorough view into the complete patient interaction, sharing data in a compliant manner within a closed loop between the electronic health records (EHR), billing, patient communications, forms and other functions. The fully customizable system offers a unique pricing model where providers only pay for credit card processing service fees through Myriad MediPay, a Myriad Systems company.\"]}),/*#__PURE__*/e(\"p\",{children:\"MyScribe AI is available now, with regular feature updates to enhance functionality. Existing Myriad Health users will receive these updates automatically at no additional cost.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"strong\",{children:\"About Myriad Systems\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=Myriad+Systems&index=9&md5=068e4b93ab66b90bc728442eab3124d6\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Systems\"})}),\" provides customizable technology and services that empower private practices by streamlining software, reducing administrative costs, and accelerating reimbursement to support independent providers.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fmyriad-health&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=Myriad+Health&index=10&md5=8ac86565ee07e8a8cf285d297e9e2860\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Health\"})}),\", the first-ever truly free EHR and billing software\u2122*, enables practice owners to thrive by enhancing patient experiences, optimizing payments, and maintaining clinical compliance. Myriad Health provides a comprehensive, all-in-one practice management platform at a fraction of the cost of traditional software, by monetizing bundled ancillary services like credit card payments and billing subscriptions. Built on a foundation of healthcare-exclusive payments with \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fmedipay&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=Myriad+MediPay&index=11&md5=d3ff282e8b60d120cb19cb68e415d69e\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad MediPay\"})}),\", Myriad Health improves patient payments at the time of treatment, reducing accounts receivable balances. Myriad provides integrated billing, coding, and credentialing services as part of the Built-in-Biller\u2122 platform. For more information, visit \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.myriadsystems.ai&esheet=54137420&newsitemid=20241016864881&lan=en-US&anchor=www.myriadsystems.ai&index=12&md5=4f5c8a268cfe6c7299e9aeee14f4d0f9\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"www.myriadsystems.ai\"})}),\".\"]}),/*#__PURE__*/e(\"p\",{children:\"*To be eligible for free all-in-one software, providers must use Myriad Systems\u2019 affiliate company Myriad MediPay to process credit card payments.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"Contacts\"}),/*#__PURE__*/t(\"p\",{children:[\"Media contact: \",/*#__PURE__*/e(a,{href:\"mailto:publicrelations@myriadsystems.ai\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"publicrelations@myriadsystems.ai\"})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})})]});export const richText6=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"Innovative AI-powered technology is one factor disrupting the corporate takeover trend\"})}),/*#__PURE__*/t(\"p\",{children:[\"For many private practices, selling to a large corporation or hospital may seem like the only answer to address the challenges of today\u2019s health care market. According to the \",/*#__PURE__*/e(a,{href:\"https://www.ama-assn.org/system/files/2022-prp-practice-arrangement.pdf\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"AMA 2022 Physician Practice Benchmark Survey\"})}),\", many private practices turn to corporate medicine for help negotiating higher payment rates and managing regulatory and administrative requirements. But there is another way forward.\"]}),/*#__PURE__*/e(\"p\",{children:\"Innovative AI-powered technology is one factor disrupting the corporate takeover trend, making the private practice business model more feasible by enabling transparent costs, increasing instances of payment at the time of treatment, resolving accounts receivable, simplifying patient education and enhancing clinical documentation.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"strong\",{children:\"Financial challenges and regulations stifle private practices\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),\"Private practices increasingly find themselves squeezed between higher administrative costs and increases in unpaid medical bills. At the same time, they must comply with new laws and compliance regulations that make it harder than ever to collect balances due from patients.\"]}),/*#__PURE__*/t(\"p\",{children:[\"Managing a practice encompasses many costs including \",/*#__PURE__*/e(a,{href:\"https://www.medicaleconomics.com/view/all-health-care-problems-are-data-problems\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"electronic health records\"})}),', clinical integrations, patient engagement, payment processing and billing services. Each vendor carries set fees plus additional fees for normal use volumes, driving massive expenses \u2013 even for those marketed as \"low cost.\" These expenses are compounded by rising costs for rent, insurance and medical equipment \u2013 making profitability evasive for private practices.']}),/*#__PURE__*/t(\"p\",{children:[\"At the same time, there is an increasing threat of never receiving outstanding balances due to the \",/*#__PURE__*/e(a,{href:\"https://www.cdiaonline.org/cdia-statements/2023/04/11/national-credit-bureaus-remove-medical-collection-debt-under-500-from-u-s-credit-reports/#:~:text=Today%2C%20the%20three%20nationwide%20credit%20bureaus%20%E2%80%94%20Equifax%2C,has%20been%20removed%20from%20U.S.%20consumer%20credit%20reports.\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Joint Statement from Credit Bureaus\"})}),\", which removes \",/*#__PURE__*/e(a,{href:\"https://www.medicaleconomics.com/view/addressing-the-pareto-principle-solutions-for-low-dollar-accounts-receivable-in-the-health-care-revenue-cycle\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"medical collection\"})}),\" debt less than $500 from patients\u2019 credit reports. States like \",/*#__PURE__*/e(a,{href:\"https://copolicy.org/news/colorados-medical-debt-credit-reporting-law-takes-effect/#:~:text=The%20law%2C%20House%20Bill%2023-1126%2C%20protects%20consumers%20with,state%20in%20the%20country%20to%20enact%20such%20legislation.\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Colorado\"})}),\" and \",/*#__PURE__*/e(a,{href:\"https://hcfany.org/resources/memorandum-in-support-of-the-ounce-of-prevention-act-s1366a-a6027-and-the-fair-medical-debt-reporting-act-s4907a-a6275a/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"New York\"})}),\" extended this, prohibiting inclusion of any medical debt information on credit reports. When patients are unwilling to pay what they owe, it strains the private practice\u2019s budget \u2013 impacting cash flow and making it difficult to cover operational costs and payroll. On top of that, confusion and frustration regarding unpaid balances is a top source of negative reviews, which also causes lost patients.\"]}),/*#__PURE__*/t(\"p\",{children:[\"Adding to these challenges is new legislation, such as the \",/*#__PURE__*/e(a,{href:\"https://www.cms.gov/nosurprises\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"No Surprises Act\"})}),\" to ensure transparency in health care costs prior to treatment. The \",/*#__PURE__*/e(a,{href:\"https://www.cms.gov/files/document/progress-aeob-rulemaking-implementation.pdf\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"mandates\"})}),\" include providing Advanced Explanation of Benefits (AEOB) for in-network visits and Good Faith Estimates (GFE) for self-pay patients. Many practices have not yet fully addressed the impact of these changes on their business.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"strong\",{children:\"AI-enabled technology boosts private practice profitability\"})}),/*#__PURE__*/e(\"p\",{children:\"Technology powered by the latest in AI and automation is key to enabling private practice owners to address these challenges. Infusing AI throughout each function optimizes the practice management system to help physicians save time, reduce costs and enhance profitability. Here are a few examples of the benefits of AI-enabled technology:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-text-alignment\":\"start\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-stroke-width\":\"0px\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"1.1px\",\"--framer-line-height\":\"1.7em\"},children:/*#__PURE__*/e(\"p\",{children:\"Eliminate the manual steps needed to gather data and the subsequent guesswork required provide cost transparency and accurate estimates before treatment as required by the No Surprises Act.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"1.1px\",\"--framer-line-height\":\"1.7em\"},children:/*#__PURE__*/e(\"p\",{children:\"Increase frequency of complete payments by estimating patient liability before treatment, offering payment options, and making payment arrangements at time of treatment.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"1.1px\",\"--framer-line-height\":\"1.7em\"},children:/*#__PURE__*/e(\"p\",{children:\"Resolve accounts receivable with analysis of outstanding patient balances and automated tasks to reduce accounts receivable.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"1.1px\",\"--framer-line-height\":\"1.7em\"},children:/*#__PURE__*/e(\"p\",{children:\"Simplify patient education and improve the patient experience with easy-to-understand, personalized information explaining eligibility, fees and balances.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"1.1px\",\"--framer-line-height\":\"1.7em\"},children:/*#__PURE__*/e(\"p\",{children:\"Enhance clinical documentation with advancements in charting to save physicians time and effort while maintaining compliance and data security.\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"Being a health care provider carries a heavy weight of responsibility for patient safety and security that also applies to the private practice\u2019s technology selections. When considering non-EHR AI plug-ins, ensure they do not share information with centralized databases, which can impact HIPAA compliance. Instead, look for a secure, \",/*#__PURE__*/e(a,{href:\"https://www.healthit.gov/topic/certification-ehrs/certification-health-it\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"ONC-certified\"})}),\" system that does not rely on outside data sources or pass data to third parties.\"]}),/*#__PURE__*/e(\"p\",{children:\"At the same time, be wary of systems that use outside knowledge to write narratives, code procedures or diagnoses, or make patient plans. AI can be used to augment practice efficiency but should not completely replace information that the physician \u2013 the clinical expert \u2013 originates.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"strong\",{children:\"Keeping the private practice profitable\"})}),/*#__PURE__*/e(\"p\",{children:\"Consolidating vendors and streamlining systems is one way to simplify workflows and controls costs, but it is also important to consider the latest technological advances. Several technology innovators have applied AI to various practice workflows, offering new ways to save time and effort.\"}),/*#__PURE__*/e(\"p\",{children:\"The ideal solution is an all-in-one practice management system that offers benefits across the entire patient interaction \u2013 from marketing to scheduling to onboarding to office visits to clinical documentation to billing and payment. The value of the system is further maximized when data is shared in an integrated loop across functions to increase efficiency, optimize revenue cycle management and improve work-life balance. The savings flow through to the bottom line and keep the private practice profitable.\"}),/*#__PURE__*/e(\"p\",{children:\"Technology for patient care and office use is essential in today's medical practice. AI is a catalyst for changing the status quo with new advancements that help private practices thrive in today\u2019s health care landscape. Without significant technological improvements, rising overhead costs and documentation pressures will continue driving many physicians to sell their private practices to corporations, or worse, leave the profession.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"em\",{children:\"Jeremy Shiner is the founder and president of \"}),/*#__PURE__*/e(a,{href:\"http://www.myriadsystems.ai/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:/*#__PURE__*/e(\"em\",{children:\"Myriad Systems\"})})}),/*#__PURE__*/e(\"em\",{children:\", a provider of comprehensive practice management software and services designed exclusively for private practices.\"})]})]});export const richText7=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"WHITE PLAINS, N.Y.--(\",/*#__PURE__*/e(a,{href:\"https://www.businesswire.com/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"BUSINESS WIRE\"})}),\")--\",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2F&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=Myriad+Systems&index=1&md5=7c38370bd2f0f668cc702984a1f97faf\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Systems\"})}),\", a provider of comprehensive practice management software and services for private practices, announces extensive artificial intelligence (AI) enhancements to significantly minimize the time and effort required to reduce accounts receivable and comply with healthcare regulations. The new capabilities also help physicians clearly address patients\u2019 demands for a deeper understanding of costs.\"]}),/*#__PURE__*/e(\"h5\",{children:'\"At Myriad Systems, we are redefining the future of private practice by securely and seamlessly integrating and accelerating every aspect of practice management with AI\u2026,\u201D said Jeremy Shiner, founder and president of Myriad Systems.'}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),\"Consumer behavior changes and recent legislation are the impetus for further transparency in healthcare pricing. According to \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.mckinsey.com%2Findustries%2Fhealthcare%2Four-insights%2Fconsumers-rule-driving-healthcare-growth-with-a-consumer-led-strategy&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=McKinsey&index=2&md5=f3054c1289969ff402ee9a27c224de4f\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"McKinsey\"})}),\", cost is a key consideration as consumers increasingly shop for healthcare. This is compounded by regulations such as the \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.cms.gov%2Fnosurprises&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=No+Surprises+Act&index=3&md5=826f143cc0a2a3644f5d316f78ba9959\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"No Surprises Act\"})}),\", which mandate providing cost information to patients before treatment. Many private practices have not fully addressed these factors.\"]}),/*#__PURE__*/t(\"p\",{children:[\"To help private practices thrive in this evolving landscape, Myriad Systems infuses AI across \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fmyriad-health&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=Myriad+Health&index=4&md5=859157e16c4afa39e348d8149b7dc0d3\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Health\"})}),\", its all-in-one platform designed to streamline workflows, improve efficiencies and ensure proper payment. The platform provides a thorough view into the complete patient interaction, sharing data in a compliant manner within a closed loop between the electronic health records (EHR), billing, patient communications, forms and other functions. With a comprehensive array of \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Faccreditations&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=accreditations+and+certifications&index=5&md5=03ded6d1611c0e0f4c0d89fd58e8e844\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"accreditations and certifications\"})}),\", the fully customizable Myriad Health offers a unique pricing model where providers only pay for credit card processing service fees.\"]}),/*#__PURE__*/t(\"p\",{children:[\"\u201CWhile disparate practice management tools offer isolated benefits, the truly transformative impact comes with an AI-driven, all-in-one solution,\u201D said \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fteam&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=Jeremy+Shiner&index=6&md5=f60527582c3c6faf2b6dc4dc1fd140c1\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Jeremy Shiner\"})}),\", founder and president of Myriad Systems. \u201CAt Myriad Systems, we are redefining the future of private practice by securely and seamlessly integrating and accelerating every aspect of practice management with AI features that reduce time on administrative tasks and increase the bottom line.\u201D\"]}),/*#__PURE__*/t(\"p\",{children:[\"\u201CThe integration of AI into Myriad Health makes the system an unbeatable value,\u201D said \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fdondubose%2F&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=Dr.+Don+DuBose&index=7&md5=f1de2994cdff00b00b8941ea75fb9b96\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Dr. Don DuBose\"})}),\", Palmetto Counseling Associates, Columbia, South Carolina. \u201CMyriad Systems is changing practices for the better and relieving some of the burden clinicians face \u2013 it saved my practice so much time and money.\u201D\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"strong\",{children:\"Complying with the No Surprises Act\"})}),/*#__PURE__*/e(\"p\",{children:\"New AI enhancements in Myriad Health eliminate manual steps to gather data and subsequent guesswork to create estimates in compliance with the No Surprises Act. Additionally, it elevates patient education with clear cost explanations using animations, which can be shared through multiple channels.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(\"strong\",{children:\"Healthcare Payment Protocol \"}),\"features AI Smart Scan to automatically create an insurance profile and run a live eligibility check using a kiosk or cell phone photo. Myriad Health\u2019s custom algorithm then estimates the patient portion based on the allowable amount for the proposed treatments and produces a full invoice and an Advanced Explanation of Benefits (AEOB) using patient-friendly animations to explain balances and define terms. The system also outlines options to ensure complete payment at the time of treatment, reducing the risk of the balance becoming medical debt that may not be recovered.\"]}),/*#__PURE__*/t(\"p\",{children:[\"Myriad Health\u2019s \",/*#__PURE__*/e(\"strong\",{children:\"Doctor ClearCare\"}),\" is a friendly character to help patients understand balances with real-time eligibility information. This feature employs advanced AI to estimate patient balances prior to treatment in compliance with the No Surprises Act, including the AEOB for in-network visits and Good Faith Estimates for out-of-network patients. Doctor ClearCare delivers personalized information to the patient during the check-in process through a customized mobile device or kiosk.\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"strong\",{children:\"Resolving accounts receivable balances instantly\"})}),/*#__PURE__*/e(\"p\",{children:\"Built on a deep foundation in healthcare-exclusive payments, Myriad Health leverages the psychology of patient payments to reduce accounts receivable write-offs.\"}),/*#__PURE__*/t(\"p\",{children:[\"To optimize revenue cycle management, \",/*#__PURE__*/e(\"strong\",{children:\"IncomeIQueue \"}),\"aggregates all patients with balances, grouping those who pre-authorized amounts not covered by insurance with a card on file and those who have not. In one click, the user can perform AI-recommended actions for all outstanding payments, cleaning up patient and insurance accounts receivable balances instantly. Myriad Health tracks and reports on savings the interface.\"]}),/*#__PURE__*/e(\"p\",{children:\"These capabilities are the first of many planned AI enhancements across Myriad Health. The Healthcare Payment Protocol is available today. IncomeIQueue and Doctor ClearCare will be available in the third quarter of 2024. Existing Myriad Health user interfaces will automatically update with the new features at no additional cost.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"strong\",{children:\"About Myriad Systems\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=Myriad+Systems&index=8&md5=5283a14f6ef50e5be5205e2dd931da5d\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Systems\"})}),\" offers customizable technology solutions to preserve the private practice model and minimize instances of corporate takeover in healthcare by streamlining software systems and lowering administrative costs. \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fmyriad-health&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=Myriad+Health&index=9&md5=f32dc19398d70ad52a01537fda04e2bc\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad Health\"})}),\", the first-ever truly free EHR and billing software\u2122, enables practice owners to thrive by enhancing patient experiences, optimizing insurance and patient payments, maintaining clinical compliance, and simplifying documentation. Myriad Health offers a holistic practice management approach with an all-in-one platform at a fraction of the cost of traditional software and services. Built on an extensive background in healthcare-exclusive payments with \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmyriadsystems.ai%2Fmedipay&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=Myriad+MediPay&index=10&md5=dcddaf4d0faba5ea66ce63d04b5f6bfb\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"Myriad MediPay\"})}),\", Myriad Health increases the frequency of patient payment at the time of treatment to significantly decrease accounts receivable balances. For more information, visit \",/*#__PURE__*/e(a,{href:\"https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.myriadsystems.ai&esheet=54113726&newsitemid=20240827905756&lan=en-US&anchor=www.myriadsystems.ai&index=11&md5=1ca4fceb5ee586f2fe629ca2d3bf2b71\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"www.myriadsystems.ai\"})}),\".\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"Contacts\"}),/*#__PURE__*/t(\"p\",{children:[\"Media contact: \",/*#__PURE__*/e(a,{href:\"mailto:publicrelations@myriadsystems.ai\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"publicrelations@myriadsystems.ai\"})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})})]});export const richText8=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/e(\"h5\",{children:\"Myriad Health EHR aimed at helping private practices\"}),/*#__PURE__*/e(\"p\",{children:\"Myriad Health, a free EHR and billing software program, is intended to help private practices. The program is offered by Myriad Systems, which also combines the expertise of its subsidiary, MediPay Compliance Consultants, to ensure practices get paid at the time of treatment. Physicians only pay their credit card processing fees.\"}),/*#__PURE__*/e(\"p\",{children:\"Myriad Health provides practitioners unlimited e-prescriptions, for free. This includes controlled substance prescribing in all states, renewals, patient eligibility, formulary and medication history. Doctors also benefit from real-time prescription benefit \u2013 they can view estimated out-of-pocket costs for a prescription, medication alternatives, pharmacy dispensing channels and coverage details, all within the practice management software.\"}),/*#__PURE__*/e(\"p\",{children:\"In addition, data migration assistance is offered at no extra charge.\"}),/*#__PURE__*/e(\"p\",{children:\"Practitioners and front office staff no longer have to manually go through their EHR software to text or email a patient. Myriad Health includes unlimited patient texting, including automatic appointment reminders and updates, text-to-pay and the ability to instantly text all patients with outstanding balances. There is also access to quick and accurate AI note transcribing that continuously learns their voice and verbiage, as well as a USB microphone for additional accuracy, enabling them to collect appointment notes during the patient visit and quickly share them into the patient portal.\"}),/*#__PURE__*/e(\"p\",{children:\"Myriad also provides unlimited insurance claims and approvals through medical clearing house integrations. Practices have the ability to pre-approve patient insurance and accurately estimate patient balances. For scheduling, practices are able to provide their patients with convenient online scheduling, automatic appointment reminders, integrated pre-payment, and waitlist management.\"}),/*#__PURE__*/e(\"p\",{children:\"Not only is Myriad an EHR software, but a full billing software. Doctors have access to financial analytics, KPIs, accounts receivable aging reports, insurance payment reporting, payment trends and more.\"})]});export const richText9=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Jeremy Shiner\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Founder and President\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Myriad Systems\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Interview conducted by:\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Lynn Fosse, Senior Editor\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"CEOCFO Magazine\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Published \u2013 February 14, 2022\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" Mr. Shiner, what is Myriad Systems?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" Myriad Systems is a technology company that deals with healthcare technology, anywhere from revenue cycle management and payment processing to EHR, billing software and small business loans; all with the mission of preserving the private healthcare practice and making sure that it is a viable method of doing business with doctors\u2019 offices moving forward.\"]}),/*#__PURE__*/e(\"p\",{children:\"We believe that not only is it best for the doctors when they have solidarity and ownership of the practice, but it is best for the patient and best for healthcare as a whole.\"}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" Why did you decide to be a full-service company in this arena?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" We started out on, and our primary revenue is generated by, the payment processing side of things. That is still our main business today \u2013 revenue cycle management and consulting, all that is under the MediPay Compliance Consultants branding. We have a really dynamic understanding of the nuances and how patient payment works within doctors\u2019 offices. We have thousands of doctors\u2019 offices that are utilizing that. Under that branding we have been building custom integrations with existing EMR, EHR and practice management softwares. Meaning that when offices take a payment, we can post it into the ledger of their current software. This ability enables us to work with thousands of different EHRs and tens of thousands of private doctors\u2019 offices, and we really have our finger on the pulse of their needs, patient needs and what makes up this process \u2013 from patient check-in and patient payment to insurance balances, and all the way through to revenue cycle. It makes it smooth and efficient. It keeps patients coming back for more treatment. In doing so, we saw a need and that is where Myriad Health was born. In speaking with doctors\u2019 offices, we consistently heard they\u2019re paying for their EHR and that it\u2019s just okay, that it does the job. We saw a need to disrupt the market a little bit and deliver something more streamlined, efficient and has a revenue cycle angle and expertise behind it but at a severely discounted price point. Because our book of business is all healthcare, we\u2019re able to provide all of these added services and only monetize them through the payment processing. We deliver a clearinghouse, scheduling, unlimited text reminders, patient communications and a what I think is one of the most truly dynamic patient check-in processes \u2013 all for no extra cost. They just pay their credit card processing fees, which is our wheelhouse since that\u2019s where we started out.\"]}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" Why is it so difficult for companies to get it right and what is it that you understand about how to simplify?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" I think it comes down to customization. There are so many different practice types and patient demographics, that a lot of these out-of-the-box solutions do not quite fit their needs, where some practices are fee for service, some are heavily insurance based, some are Medicaid and Medicare, or some need a payment plan. What ends up happening is the market gets extremely segmented into very niche practice management softwares, which cuts down their potential client base so much that it drives up prices to the point that many practice management softwares are priced at 2,000% profitability on each account, because they might be only going after one sliver of the market, so when we built Myriad Health customization was a key word. Everything is fully customized on the back end, and we are going to provide a white-glove service to build that out for practices tailored exactly to their workflow. We are going to ask the critical questions around their workflows in terms of patient and insurance payments and revenue cycle management, and build it out so there is no work for them and on day-one they are functioning exactly the way they need to, and we can calibrate it from there.\"]}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" Myriad Health is fairly new; how are you rolling it out?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" This is all brand-new, so we are doing a phased roll-out. We have so many incoming inquiries about it so we have a queue setup and we are scheduled out to March or April with installations. We are going to roll it out a little at a time to make sure everything goes smoothly and make sure practices have an easy and seamless experience getting set up.\"]}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" How easy would it be to make a change?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" The usability is really user-friendly. We studied other softwares, even in other industries such as CRM, and we studied the marketplace and emulated some of that from UI and UX standpoints and had consultants come in. Learning the software will be easy. The biggest sticking point to getting anybody to change software is data import and export because they have hundreds or thousands of patients and thus a lot of files, so we are aiding with getting data imported to our software and exported from the previous software. Because we have a free solution, which is extremely unique in the marketplace, we envision a lot of new practices signing on to keep their overhead low, as well as a lot of smaller practices, such as psychiatry practices, physical therapy offices, chiropractors and others that may not be paying for an EHR solution, ePrescribing or any of the things that we are offering. As you know ePrescribing is the standard and required in certain states, so we will be able to get this solution into their hands without any upfront investment and without any commitment or monthly investment. They just pay their credit card processing fees.\"]}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" What did you learn as you started to develop Myriad? What did you recognize that you did not expect to find when putting the whole system together?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" I learned a lot over the three years of research and development, especially how complex charting can be. As I mentioned, my expertise is the revenue cycle side. From the outside looking in, I had a good understanding of patient charting and what it was. There is a lot of nuance, different details and changes that go on. When you get to the clearinghouse, that is also a big undertaking as far as verifying insurances and communicating directly with insurance companies and making sure denied claims are responded to quickly. It kind of goes back to the question about why it is difficult to get it right. That\u2019s because there are so many aspects. When you build a software like this you are touching on the amount of content that spans four or five industries. When you talk about these different aspects and we are able to try to deliver that under one platform that is easy to use and customize at one price point. I think the value of Myriad is that we\u2019re able to deliver all of this in one, easy to use and customizable platform at one price point, but that is also the difficulty of it on the flip side.\"]}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" What else is in the platform and what might surprise a potential client that they are able to do with Myriad?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" I think some of the things that may surprise them is the patient check-in process. We have copyrighted approach to patients that we are using now, but this is going to mechanize all of that so that not only is it foolproof where nobody is falling through the cracks, but it is customizable. The patient is going to be able to check-in, register, leave all their demographic information and verify their insurance all from their cell phone, and then based on those numbers the practice can come back and provide the estimated patient portion and all these things. It is going to prompt the patient to sign a pre-authorization with a PCI-compliant, encrypted card on-file so that offices are not billing for insurance balances, and even if it does get into the billing portion, we have all electronic invoicing built right in. It is going to eliminate the cost of billing \u2013 which is $3.00 to $5.00 per bill in administrative costs \u2013 not to mention the time spent waiting on the patient, then sending another bill, following up with threat and collection or even writing it off as a loss at the end of the year. This is the top way practices lose patients \u2013 by allowing them to owe money. It has nothing to do with the quality of treatment that was applied. However, patients are out there saying it did have to do with treatment and leaving negative reviews simply to save face. Therefore, not only does the office lose the initial amount the patient stuck them with and the cost of collecting but future treatments and future referrals \u2013 an average of over eight referrals per practice.\"]}),/*#__PURE__*/e(\"p\",{children:\"Myriad will seamlessly address all of these issues and is guaranteed to cut down billing and account receivable balances. It is something we ask the offices to try, to keep those numbers \u2013 and the software itself will keep those numbers for them if they enter it in ahead of time and it will record how much they reduced the account and how much they reduced the billing cost right in the software to show them the value of this.\"}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" Are you focusing on the Myriad and leaving Myriad Systems alone or will you be offering them together, what is the strategy?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" Our plan is to corner our niche to our market. We are going to be able to walk into any practice or meet with any contact and say that we can either build a custom integration and do their payment processing with their current software if you are happy with it, but if you are not we can provide this one \u2013 Myriad \u2013 at no cost and no monthly fee for the software itself and you process credit card payments with us. Either way they benefit from our services. Those are Myriad Systems main services, the integrations with MediPay Compliance Consultants and Myriad Health software that takes care of every aspect of their practice.\"]}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" Are you concerned that people will be leery because you are offering a free version?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" It has been done but not particularly successfully. Practice Fusion had a free version \u2013 just the EHR not billing \u2013 that was monetized through advertising, and I think users found it a little spammy, and the advertisers found that there were not very good returns on those ads, so they ended up monetizing it. Therefore, yes, everybody is leery, but they are interested. When we explain the business model to them, they understand and are less leery. We are not giving Myriad away without any benefit to ourselves and we are not trying to convey that. We are getting the payment processing out of it, so our profitably will be about 2% rather than up to 2,000% or even higher in some cases. Our business model is to make a very small amount of money over a very long period of time through the payment processing. We have very low overhead in the payment processing so we can fit these added services, all within that umbrella.\"]}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" Why is this the right time to come out with Myriad Health?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" I think there are two perspectives. You can look at it from a healthcare perspective, there is no better time than now because doctors\u2019 offices are being squeezed on all sides. Rents are climbing. Malpractice lawsuits are higher than ever. Malpractice insurance is higher than ever. Insurance companies are paying out less than ever, and patients are more likely than ever to not pay healthcare bills, so they are writing off more than they have ever written off. Medical school puts doctors in hundreds of thousands of dollars of debt, and doctors are earning less than they ever earned.\"]}),/*#__PURE__*/e(\"p\",{children:\"If the trend continues, large corporations are going to continue to buy-out private medical practices until they cease to exist. It is not good for doctors nor patients. The more doctors become employees, the less our brightest and best are going to gravitate towards medicine. We need great doctors and great healthcare.\"}),/*#__PURE__*/e(\"p\",{children:\"We are trying to do our small part in cutting down the crushing overhead that is taking over these practices and pushing doctors to sell their practices. When I speak to doctors who have done so, regret is a constant. Many time corporations decide what medicines the doctors can prescribe, what tools they can use and how they can treat their patients. They lose that special connection and that solidarity, and a lot of the doctors regret it. They are basically cornered into making that decision in many cases.\"}),/*#__PURE__*/t(\"h6\",{children:[/*#__PURE__*/e(\"strong\",{children:\"CEOCFO:\"}),\" What if anything might a practice considering using your company miss when they first look at Myriad Systems?\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mr. Shiner:\"}),\" Because Myriad Health is a free software, they could be leery of it and think it is cut-rate. Again, our model is to monetize Myriad through the payment processing, and they pay that anyway, so it is free to them and we are getting business out of it through our sister company MediPay Compliance Consultants so they work in conjunction with each other. We want them to understand that this is an elite-level software, and it will be one of the most dynamic, user-friendly, customizable and comprehensive software on the market if not the most comprehensive on the market. This is something that is a true disrupter, a better product for less. That is our mission.\"]})]});export const richText10=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/t(\"h4\",{children:[\"For a highly successful startup you need the vision, the passion, the organization, the team and the compassion.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"534\",src:\"https://framerusercontent.com/images/m4p2D3hS84C2FFKOECmjncUpJU0.webp\",srcSet:\"https://framerusercontent.com/images/m4p2D3hS84C2FFKOECmjncUpJU0.webp?scale-down-to=1024 674w,https://framerusercontent.com/images/m4p2D3hS84C2FFKOECmjncUpJU0.webp 704w\",style:{aspectRatio:\"704 / 1068\"},width:\"352\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"p\",{children:\"Startups have such a glamorous reputation. Companies like Facebook, Instagram, Youtube, Uber, and Airbnb once started as scrappy startups with huge dreams and huge obstacles.\"}),/*#__PURE__*/e(\"p\",{children:\"Yet we of course know that most startups don\u2019t end up as success stories. What does a founder or a founding team need to know to create a highly successful startup?\"}),/*#__PURE__*/e(\"p\",{children:\"In this series, called \u201CFive Things You Need To Create A Highly Successful Startup\u201D we are talking to experienced and successful founders and business leaders who can share stories from their experience about what it takes to create a highly successful startup.\"}),/*#__PURE__*/t(\"p\",{children:[\"I had the pleasure of interviewing Jeremy Shiner\",/*#__PURE__*/e(\"strong\",{children:\".\"})]}),/*#__PURE__*/e(\"p\",{children:\"Jeremy Shiner, founder and president of MediPay Compliance Consultants, the only payment processing company that does not process for a single restaurant or retailer and is exclusively dedicated to healthcare. Jeremy founded the company after being the top salesperson in the nation and partnering with more new clients in one single year than any other representative at his past company. After establishing the company amidst the COVID-19 pandemic, Jeremy has grown the company to over 200 clients in six months, returning a profit since day one.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"Thank you so much for joining us in this interview series! Before we dive in, our readers would love to \u201Cget to know you\u201D a bit better. Can you tell us a bit about your \u2018backstory\u2019 and how you got started?\"}),/*#__PURE__*/e(\"p\",{children:\"Thanks for having me! I\u2019ve been around the healthcare industry my entire life, witnessing my father build the largest healthcare payment processor in the country. After I graduated from the Catholic University of America, I joined forces with him and his team, won the Highest Rookie Sales award in my first year, was the top salesperson in the nation in less than three years and received two consecutive Representative of the Year awards, among others.\"}),/*#__PURE__*/e(\"p\",{children:\"After four years, I launched my own organization, MediPay Compliance Consultants, where we deliver customized, white-glove solutions, expertise and quality of service dedicated to healthcare professionals.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"What was the \u201CAha Moment\u201D that led to the idea for your current company? Can you share that story with us?\"}),/*#__PURE__*/e(\"p\",{children:\"When I realized I could go from using the strategies and tools I was taught to help myself and clients, to now teaching others how to find success in those some ways, I saw we could touch a lot more private doctors\u2019 offices and create a lot more prosperity for both our clients and sales partners.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"Was there somebody in your life who inspired or helped you to start your journey with your business? Can you share a story with us?\"}),/*#__PURE__*/e(\"p\",{children:\"My father, Frank; he was in this business as well and started Rectangle Health. I learned a lot working with them and from him, that I\u2019ve now been able to add my own spin to and build off of.\"}),/*#__PURE__*/e(\"p\",{children:\"One funny thing that happened when he was giving a speech at a company event, he said, \u201Cno kid grows up and wants to be in the bank card processing industry,\u201D and I sort of meekly raised my hand, at this point being the top salesperson in the company, and said, \u201Cwell I kind of did.\u201D This is just a funny little quip, but there\u2019s a lot of truth to it. I was able to grow up and see the success and how much, from a business and consulting point of view, we were able to help private doctors\u2019 offices, so they could focus on their patients, while also running the office and finances efficiently.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"What do you think makes your company stand out? Can you share a story?\"}),/*#__PURE__*/e(\"p\",{children:\"Exclusivity. The fact that we\u2019re able to hone in and focus on just the needs of doctors\u2019 offices really sets us apart. Our knowledge of their pain points and being able to apply compliant tools and technologies to address them, is what makes us different.\"}),/*#__PURE__*/e(\"p\",{children:\"We recently had a client tell us that with our program, they were able to reduce billing costs and accounts receivable balances by literally tens of thousands of dollars in a short period of time. They told us that this bottom-line savings has propelled them forward after the severe financial setbacks brought on by COVID.\"}),/*#__PURE__*/e(\"p\",{children:\"This is why we\u2019re in the business. Without the excellent healthcare that privately-owned doctors\u2019 offices deliver to patients, America is a sicker and less happy place. We\u2019re here as an ancillary to support doctors\u2019 offices and American health and prosperity.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"How have you used your success to bring goodness to the world?\"}),/*#__PURE__*/e(\"p\",{children:\"I think the two are inextricably linked. Sure, you can have financial success without goodness, but you can\u2019t have holistic success without goodness. Fighting for something that you think is good as an individual and as a company creates a certain passion that is undeniable. Success is just a byproduct of this.\"}),/*#__PURE__*/e(\"p\",{children:\"I think our ability to provide feasible forms of patient financing to ensure doctors get paid by every patient, makes treatment possible for a larger patient-based and makes the business side of things sustainable for the doctors. We\u2019re just here as a support being so they can continue to do the good they\u2019ve committed their lives to.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?\"}),/*#__PURE__*/e(\"p\",{children:\"I hate to talk about myself in this light, but fearlessness, open-mindedness and tenacity. These are things that any individual can achieve and are not unique to me but are the most important characteristics for a successful individual. Everyone has unique traits and idiosyncrasies, but these three are ubiquitous among highly successful individuals, and it\u2019s so important to realize it\u2019s in everyone\u2019s control to decide to be these things and turn them into characteristics when continuously practiced.\"}),/*#__PURE__*/e(\"p\",{children:\"I won\u2019t bore you with an example of all three, but we can take the pandemic as a litmus test. We started this company during COVID, and as the top national salesperson at my previous company, I saw that the opportunity costs were lessened by the shutdowns. When many people would have taken the safe route or thought this would be the worst time to start a business, I saw it as the perfect opportunity.\"}),/*#__PURE__*/e(\"p\",{children:\"When I say be fearless, I don\u2019t mean be reckless. I mean don\u2019t be afraid of situations or to take risks. No new accomplishment is made without stepping outside of the comfort zone. When I say be open-minded, I mean when everyone is going one way, be brave enough to be open to new ideas and avenues and creating outside of the sandbox you\u2019re used to. Envision a path that others might not understand and might fight you on. Every business owner has known great failures \u2014 everyone in business has known great failures. Tenacity is being able to get up every single day and look our problems from the day before, squarely in the eyes, without the slightest aversion to facing them again.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"Often leaders are asked to share the best advice they received. But let\u2019s reverse the question. Can you share a story about advice you\u2019ve received that you now wish you never followed?\"}),/*#__PURE__*/e(\"p\",{children:\"I can honestly say I have no regrets. I know that may sound a bit clich\\xe9, but there are no mistakes if you learn from them. If I followed bad advice, I could say I don\u2019t remember a specific instance because I take full accountability for following it, and responsibility for learning from it. In this way, mistakes become great advantages for the future.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"Can you tell us a story about the hard times that you faced when you first started your journey?\"}),/*#__PURE__*/e(\"p\",{children:\"When we first got off the ground it was the height of COVID, and we were calling to get appointments with doctors\u2019 offices, and time after time we kept hearing, \u201Cwe\u2019re not seeing anyone; we\u2019re not making appointments; we\u2019re not making changes right now,\u201D so even remote appointments weren\u2019t viable. This gave potential clients a built-in excuse to not deal with this or want to learn more. This was a time of great turmoil and uncertainty.\"}),/*#__PURE__*/e(\"p\",{children:\"We were forced to adapt and understand the psychology of what was leading to these tendencies, and in doing so we were able to come up with an answer to use our technologies, skillset and knowledge to alleviate those justifiable fears and anxieties, rather than add to them in any way.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"Where did you get the drive to continue even though things were so hard? What strategies or techniques did you use to help overcome those challenges?\"}),/*#__PURE__*/e(\"p\",{children:\"Drive was never an issue; I love what I do and I\u2019m a problem solver by nature. The question was how to get past the challenges. We were able to see new needs in the market, such as contactless payments, telemedicine, card-on-file protection and compliance, and lean into these needs to use them to our advantage.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"The journey of an entrepreneur is never easy, and is filled with challenges, failures, setbacks, as well as joys, thrills and celebrations. Can you share a few ideas or stories from your experience about how to successfully ride the emotional highs & lows of being a founder\u201D?\"}),/*#__PURE__*/e(\"p\",{children:\"This was an easy one. With a background in sales, highs and lows are standard operating procedure. As a founder, you are the leader of your organization. You have a responsibility to respond to things tin a way that will comfort others and lead them in a direction that you believe is best for them and the company as a whole.\"}),/*#__PURE__*/e(\"p\",{children:\"To reference the above example, I was able to rally my salespeople around the idea, as other organizations vacated the time-tested, in-person sales methodology, we still stood proudly. When other companies hid behind COVID and used it as an excuse for a dip in numbers, we used it as a reason to increase our sales and help clients navigate this troubling time as consultants, professionals and purveyors of new technologies.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"Let\u2019s imagine that a young founder comes to you and asks your advice about whether venture capital or bootstrapping is best for them? What would you advise them? Can you kindly share a few things a founder should look at to determine if fundraising or bootstrapping is the right choice?\"}),/*#__PURE__*/e(\"p\",{children:\"I would say that if you can self-fun, do so, because it gives you a unique level of control to pursue your vision. Of course, that isn\u2019t always viable, and I understand and empathize with that totally. I was blessed to have an extremely successful sales career before I launched this venture and was able to self-fund. This put the organization and my employees in a very favorable position where we have full control over our own destinies. That being said, venture capital firms do an amazing job of boosting businesses that otherwise may have not ever been launched or able to grow that quickly. This is something I would be open to in the future as we continue to grow, but it is not our current path.\"}),/*#__PURE__*/e(\"p\",{children:\"As far as advice, I would take it on a case-by-case basis, and whatever that individual needs to do to make their vision a reality, seize the opportunity sooner rather than later.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"Ok super. Here is the main question of our interview. Many startups are not successful, and some are very successful. From your experience or perspective, what are the main factors that distinguish successful startups from unsuccessful ones? What are your \u201CFive Things You Need To Create A Highly Successful Startup\u201D? If you can, please share a story or an example for each.\"}),/*#__PURE__*/e(\"p\",{children:\"A successful startup always starts with the \u201Cwhy\u201D \u2014 why you do what you do. If founders begin with the why and then figure out the \u201Chow\u201D and the \u201Cwhat,\u201D they then have the makings of purpose-driven organizations. If you start with the \u201Cwhat,\u201D which might be making money, or prestige or success, you have virtually no chance of achieving it.\"}),/*#__PURE__*/e(\"p\",{children:\"For a highly successful startup you need the vision, the passion, the organization, the team and the compassion. The vision really makes up an organization\u2019s \u201Cwhy;\u201D why they do what they do. The passion is derived from the \u201Cwhy,\u201D it\u2019s what gives you the belief that you can truly make a difference. Organization is crucial. A vision and passion without an organized effort will not yield any sustainable results. Things need to be structured according to your plan. The team is what helps carry out the \u201Cwhy.\u201D A CEO is nothing without a great team. Only through a focused team can a dream become a reality. Lastly, without compassion, you lose the \u201Cwhy,\u201D you lose the team, you lose the clients and the organization crumbles. Our humanity is the essence of all successful business interactions. Without humanity there is no long-term success.\"}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"What are the most common mistakes you have seen CEOs & founders make when they start a business? What can be done to avoid those errors?\"}),/*#__PURE__*/e(\"p\",{children:\"Spreading themselves too thin. I don\u2019t mean financially. I mean that success-driven individuals tend to see opportunities and jump at them. This can dilute the original vison. You\u2019ll receive a million offers for business ventures and investments within our outside of your business, and you have to ask yourself the important questions \u2014 does this align with our \u201Cwhy,\u201D and does it align with our overarching goal.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"Startup founders often work extremely long hours and it\u2019s easy to burn the candle at both ends. What would you recommend to founders about how to best take care of their physical and mental wellness when starting a company?\"}),/*#__PURE__*/t(\"p\",{children:[\"You know yourself better than anyone else. For me personally, I wake up extremely early, I workout to clear my head and start my day off in a focused and positive place. I do work very long hours, but my work phone is off by 9:00 p.m. and I\u2019m in bed by 9:30 p.m. at the latest. I know I\u2019m a morning person, and my hours of prime productivity are between 5:00 a.m. and 8:00 p.m. That being said, giving yourself small breaks within your day, if needed, is important for sustainability. I encourage all my employees who skip lunch to take lunch; if they clear their heads, they\u2019ll be more productive throughout the day and able to be more consistent through their days, weeks and years.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)\"}),/*#__PURE__*/t(\"p\",{children:[\"The first thing that pops into my mind to give it a catchy name, is the Passion Project. If we could assist every individual in finding something he or she is passionate about, truly loves, truly feels excited about, this would change his or her life, which would change the lives of those he or she touches, which would change the world. As human beings, there is literally nothing more important than feeling fulfilled by what we do day in and day out, whatever that may be.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"We are blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch, and why? He or she might just see this if we tag them.\"}),/*#__PURE__*/e(\"p\",{children:\"I\u2019ve met with and learned from a lot of great businessmen, and being that I have a background in football, I\u2019d really love to have lunch with Tom Brady. I feel that although it\u2019s a totally different realm than business, being a champion has certain universal attributes as we spoke about earlier.\"}),/*#__PURE__*/e(\"p\",{children:\"Tom Brady\u2019s story really resonates with me, as he was drafted so late and overlooked by so many but has had so much success. He epitomizes the tenacity and hard-work I really admire. I would love to pick his brain to understand what makes him tick.\"}),/*#__PURE__*/e(\"h5\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h5\",{children:\"How can our readers further follow your work online?\"}),/*#__PURE__*/t(\"p\",{children:[\"They can keep up with us at\\xa0\",/*#__PURE__*/e(a,{href:\"http://www.medpaycc.com/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"www.medipaycc.com\"})}),\"\\xa0and our LinkedIn and Facebook, and keep an eye for an exciting launch from us in the coming months. We feel this launch will even further our ability to assist private offices to give and patients to receive the care they need.\"]}),/*#__PURE__*/t(\"h5\",{children:[/*#__PURE__*/e(\"br\",{}),\"This was very inspiring. Thank you so much for the time you spent with this. We wish you continued success and good health!\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"ORIGINAL LINK:\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(a,{href:\"https://medium.com/authority-magazine/jeremy-shiner-of-medpay-compliance-consultants-five-things-you-need-to-create-a-highly-successful-35bbc83a03cb\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"https://medium.com/authority-magazine/jeremy-shiner-of-medpay-compliance-consultants-five-things-you-need-to-create-a-highly-successful-35bbc83a03cb\"})})})]});export const richText11=/*#__PURE__*/t(n.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"In recent years it\u2019s become more common for physicians to be employed by large corporations or hospitals, rather than be part of a private practice in which one or more physicians own the practice. Despite this trend, it\u2019s important to not count out private practices for many reasons, ranging from higher earning potential and more autonomy to better patient care and better work environments.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"Higher Earning Potential\"}),/*#__PURE__*/t(\"p\",{children:[\"Business ownership may seem risky and opting for employment under a larger corporation may help avoid various financial and liability risks associated with business ownership. However, when a physician is employed under a corporation their earning potential is likely capped by an annual salary. In a private practice setting, the physician receives all or a portion of the profits. They also have more control over how services are priced and delivered and how the earnings are spent.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"Autonomy vs. Dependence\"}),/*#__PURE__*/t(\"p\",{children:[\"Corporate employment may offer more readily available resources and equipment a physician would not have to source and purchase themselves, but a private practice allows more freedom to make your own decisions.\\xa0Large healthcare systems are generally led by business executives who have little to no medical training but have massive influence over the decisions their employed physicians can make, ranging from tests and surgeries to perform to medicines and tools to use. In a private practice, the physicians have full autonomy to make decisions based on their personal preferences \u2013 ranging from payment processing and practice management software to payment plans, pricing and other managerial items. Important decisions lay completely in the owners\u2019 hands, as do the consequences of these decisions.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"Patient Care\"}),/*#__PURE__*/t(\"p\",{children:[\"Private practices tend to be more established in their communities, so there is less focus on increasing the number of new patients and rather on providing existing patients with the best, most comprehensive treatment. In a corporate setting, the focus is generally around productivity and numbers, directly hurting patient care.\\xa0In a corporate office, patients are not guaranteed to see the same doctor, and with every switch the doctor must spend time and effort to learn the patient\u2019s history. Not every doctor is the same and the new doctor may not agree with the treatment plan established by the doctor from the past visit. In a private practice the sacred doctor-patient relationship consists of just the necessary parties \u2013 the doctor and the patient. Doctors have the time to get personal with their patients and build deep relationships, increasing the quality of patient care, patient trust and loyalty.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"Workplace Culture\"}),/*#__PURE__*/t(\"p\",{children:[\"In today\u2019s healthcare workplace, culture plays a greater role in recruitment and retention of staff, but\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.jacksonphysiciansearch.com/the-engagement-gap/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"less\"})}),\"\\xa0\",/*#__PURE__*/e(a,{href:\"https://www.jacksonphysiciansearch.com/the-engagement-gap/\",motionChild:!0,nodeId:\"XoEruTZAD\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(i.a,{children:\"than 50% of physicians in a corporatesetting\"})}),\"\\xa0feel they are always treated with respect. Private practices tend to run like a tight-knit family, and the staff have the authority to create whatever environment they feel best works for the staff. When the internal relationships are respectful and positive, the office is happier and patients enjoy their visits more.Equally as important to office culture is work-life balance. In a corporate setting, staff have set hours and productivity requirements they must meet to earn their salary. In a private practice, physicians have authority on how many patients they will see per day, when and how much they are going to work. Private practice means work-life balance is entirely your decision, there are no office managers or corporate executives telling you to see more patients.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h5\",{children:\"Innovation vs. Stagnation\"}),/*#__PURE__*/e(\"p\",{children:\"Hospitals are experts at managing hospitals, not physicians. Despite extremely large budgets, corporate healthcare systems tend to provide very standardized care. Most healthcare innovation comes from physician-led organizations or startups not the hospital. Privately-owned practices take holistic approaches to patient health and wellness, putting the patient at the center to address a comprehensive range of physical, emotional, mental, social and environmental factors that could be affecting their health. With less pressure to see more patients per day and deeper physician-patient relationships, private practicing doctors have the time and interest in looking at the big picture and finding innovative solutions for patients\u2019 conditions. Corporate systems generally only look at the list of symptoms on patient-intake forms rather than assessing outside yet crucial factors.\\xa0When it comes to choosing private practice or corporate healthcare employment, physicians ultimately tend to make their decision based on their professional goals and where they are in their careers. For young healthcare professionals starting out their careers, corporate employment may provide more stability, patients and more that\u2019s important for a new physician. Once you have more experience and considerations, you may want more freedom to make decisions and that\u2019s done through private practice.At MediPay Compliance Consultants, we\u2019re dedicated to assisting private practices receive payment at the time of treatment and improve office efficiencies. 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