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28 Practice Management Stay updated on the latest news, trends and business concepts for spine surgeons and practices Sign up today for our Spine Review E-Weekly at www.beckersorthopedicandspine.com SIGN UP TODAY SPINE REVIEW T he spine surgeon's world is changing rapidly. As healthcare reform changes the landscape, surgeons are looking for the best way to spend their time and resources while optimizing their practices. Here are five of the top investments for spine surgeons today: 1. Continuing education — Whether at clinical courses, business retreats or reading journal articles, one of the best ways to invest in your practice is to invest in yourself. "Keep your skills sharp and stay on top of new technologies that can help your patient care," says Dwight Tyndall, MD, of the Orthopaedic Specialists of Northwest Indiana in Munster. "By doing that, you can remain competitive in the marketplace." 2. Electronic medical records — EMR investments are expensive, but the technology will pay-off by reducing wasteful duplication, relieving staff from tracking answers down from patients and ultimately improve patient flow. "I definitely think you need to invest in an EMR," says Dr. Tyndall. "The issue is a lot of them weren't written by their end users, so they're compli- cated and expensive. Do your research and pick the right one." 3. Data gathering — Put an electronic system in place and work with staff members to analyze data and really understand what it means for your prac- tice. If you have data proving your patient selection and treatment improve quality of life and reduce costs, you'll have a vital tool for the future. "You can prove your worth so policy makers and payers see you are practicing value- based care," says Dr. Tyndall. 4. Ambulatory surgery centers — More spine sur- geons today are investing in ASCs — one of the last bas- tions of physician ownership in healthcare. Surgeons are able to perform more and more cases in the ASC due to less invasive technology and advanced pain management protocol, and patients appre- ciate the opportunity to go home the same day. "One of the best investments for spine surgeons is the ASC because there's a trend in doing more outpatient- type procedures in spine," says Scott Blumnethal, MD, co-founder of the Cen- ter for Disc Replacement at Texas Back Institute in Plano. "However, I would warn surgeons to be careful in patient selection to avoid complications." 5. Market research on patients — Go beyond "conventional wisdom" in your market to conduct market research on patient demographics and build out your practice to cater to them. If there's a high elderly population, capitalize on their needs; if you're in a wealthier market, create a concierge practice. "Adapt to whatever the market might be," says Dr. Blumenthal. "If you have a high-end market, put resources into patient navigators and coor- dinators so patients just have one person guiding the process. The best invest- ment is in their practices and realizing that things aren't the way they always were and surgeons have to adapt to a changing environment." n Dr. Dwight Tyndall Dr. Scott Blumenthal H ere are 18 statistics on salaries and bonuses for orthopedic surgeons from Salary.com. Here are five statistics on the national average an- nual salary plus bonus for orthopedic surgeons, as of January 2015: 1. Bottom 10 percent: $280,965 2. 25th percentile: $372,237 3. 50th percentile: $472,487 4. 75th percentile: $617,115 5. Top 10 percent: $748,791 Here are five statistics on average orthopedist sal- ary only: 6. Bottom 10 percent: $260,145 7. 25th percentile: $343,588 8. 50th percentile: $435,238 9. 75th percentile: $562,903 10. Top 10 percent: $679,134 Additionally, here are two statistics on the nation- al average core compensation for orthopedists: 11. Base salary: $435,238 12. Bonuses: $37,249 And six statistics on national average value of benefits for orthopedic surgeons: 13. Time off: $58,152 14. Pension: $16,695 15. Social Security: $14,198 16. 401K/403B: $9,540 17. Healthcare: $6,592 18. Disability: $4,252 n 18 Statistics on Orthopedic Surgeon Salary & Bonus By Anuja Vaidya 5 Top Investments for Spine Surgeons Today By Laura Dyrda