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Clinical excellence and financial stability are two major priorities for physician-entrepreneurs, yet achieving both requires a fine balance. Forward-thinking leaders like Dr. Neel Vaidya, chief information officer at Chicago Cornea Consultants and longtime Nextech user, incorporates emerging technology into his practice to improve workflows, enhance patient care, and build fiscal sustainability.

A new year has arrived and so have fresh chances for business growth. Specialty healthcare practices have a prime opportunity to set themselves up for financial success by leveraging the right technology. The key lies in evaluating past performance, setting clear goals, and aligning the appropriate tools to meet these objectives. Here’s how your practice can make 2025 your most profitable yet.

If you flip a coin, the chance of landing on heads is the same as the statistical probability that the United States will enter a recession this year. In fact, about 50% of economists predict we’ll see a recession in the next 12 months.

For years, dermatologists, like all physicians, have been hammered with mandates, such as meaningful use and now value-based care. Trying to keep up with the constantly changing regulations may at times seem like a distraction away from the patients for which these policies were intended to benefit.

Ready or not, the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) Quality Payment Program (QPP) and its associated financial incentives and penalties start next year. Unlike previous pay-for-performance programs, the Centers for Medicare and Medicaid Services (CMS) has done away with “all or nothing” rules for earning payment adjustments with the QPP’s Merit-based Incentive Payment System (MIPS) and Advanced Alternative Payment Models (APM).