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The economy is on a wild ride. Government policies have been announced and rescinded at a pace that could give a watcher whiplash. Markets are swinging wildly on a mix of reality and conjecture that has consumers clutching their wallets. The Great Recession of 2008 showed us that while it’s more resilient than some sectors, healthcare is far from recession proof. Savvy practices are taking steps now to protect their businesses, whatever the economy has in store.

The One Big Beautiful Bill Act has officially been signed into law. Congressional Budget Office estimates indicate the bill will slash more than $1 trillion from healthcare over the next decade and increase the number of people without health insurance in 2034 by 10 million, according reports from the Center for Medicare Advocacy and the Kaiser Family Foundation.

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.

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).