The economic stability of endocrinology practices is threatened by rising costs, declining reimbursements, and the need to treat an increasing number of patients with comorbidities. Touchpoint can help take the pressure off endocrinologists and offer patient education programs.
The relatively low incomes of endocrinologists translate into a widening gap between the need for endocrinologists and the number of board-certified endocrinologists. Although the skyrocketing prevalence of type II diabetes causes an increased demand for endocrinologist services, the rising costs to maintain a practice, declining reimbursements, and the increased administrative burden imposed by changing reimbursement models mean that many endocrinology practices struggle to remain economically viable.
Another effect of the increasing diabetes prevalence is the market entrance of new drugs and new drug classes such as SGLT2 inhibitors with the attendant need of physician education. Cooperation with other medical specialties may present problems to endocrinologists as well. For example, hormonal treatments for menopausal women are seen frequently as potentially dangerous by nonendocrinologists, who subsequently try to stop the treatments. Finally, practices caring for underserved populations deal with patients who, in many cases, have not had reliable healthcare in decades, suffer from multiple comorbidities, and are in urgent need of lifestyle interventions.
Endocrinology practices are experiencing problems maintaining economic stability. In dealing with cost and reimbursement pressures, endocrinologists will benefit from assistance with:
- Advocating the value of their specialty to payers as a way of increasing reimbursement and protecting the integrity of the doctor-patient relationship
- Technological innovation that will lower the cost of running an endocrinology practice
- Education on emerging diabetes treatments and their place in diabetes treatment algorithms
- Patient education programs that help with lifestyle interventions
Touchpoint has the capability to help endocrinology practices remain economically stable.
Touchpoint can provide healthcare and medical device commercialization through field-based medical sales representatives, as well as inside medical sales representatives, working from healthcare contact centers.
We also provide managed market specialists specializing in working with payers on reimbursement issues.
Touchpoint’s clinical health educators can help take the pressure off endocrinology practices by assisting with patient education and lifestyle interventions.
Our medical science liaisons are available for scientific discussion with physicians as necessary.