One of the most significant challenges in thriving as an independent physician is the growing presence of government mandates within health care delivery. To thrive, independent practices must figure out how to handle multiple mandates, such as the Meaningful Use EHR incentive program and the upcoming ICD-10 conversion – for nearly all caregivers, these initiatives will affect practices simultaneously.

It’s important to note that a lack of compliance on behalf of the medical practice affects the bottom line: There are significant penalties attached to the Meaningful Use EHR incentive program for those practices who do not attest; and practices unable to efficiently handle the transition to the ICD-10 code set by the specified deadline (not yet announced for 2015, as of this writing) will risk getting claim payments in a timely manner.

One thing is certain in the current health care environment: change will continue. Whether it’s the ongoing Meaningful Use EHR incentive program, the massive ICD-10 conversion, the transition to new payment models and clinical care models, or declining reimbursement, practices must be ready to adapt. And the key to thriving in the current environment through all this change is having a flexible, intelligent health IT system, with services and technology that can anticipate and stay on top of new requirements without large, ongoing investments.