Kern Singh, MD, is co-director of the Minimally Invasive Spine Institute at Rush and a partner at Midwest Orthopaedics at Rush, both in Chicago. He is an internationally known expert in minimally invasive spine surgery and has earned recognition for his research in less invasive treatments and motion-sparing techniques.
Here, Dr. Singh discusses the biggest business and healthcare trends that will affect his practice next year.
Question: What are the 3 biggest business/healthcare trends you expect to affect your practice in 2019?
Dr. Kern Singh: 1. Market consolidation will happen due to increased external economic forces, such as EMR, Medicare compliance and rising healthcare labor costs. Small groups will continue to combine, [and] if not, they will be acquired by large healthcare systems who are able to provide a steady flow of patients and are able to cover rising malpractice costs.
2. Technology development will continue to slow down as hospitals and insurers are reluctant to pay premium pricing for new technology.
3. Bundled care payments will continue to grow, and those practices that have managed to successfully implement [them] will continue to capture a larger percentage of the market.
For the best insights in the future of spine and practice management from across the nation, register here for the Becker's 17th Annual Future of Spine + The Spine, Orthopedic and Pain Management-Driven ASC Conference in Chicago, June 13-15, 2019.
To participate in future spine and neurosurgeon leadership Q&As, contact Laura Dyrda at ldyrda@beckershealthcare.com.