In response to growing preoccupations among physicians, RBC announced on March 9 the launch of Practice Solutions, “a suite of tools to help physicians establish and manage their practices.”

Physicians say they can feel caught between a capped income structure and the rising costs of doing business, says research conducted by RBC Ventures in partnership with RBC Healthcare. In addition, they say they also find it challenging to allocate time to optimize their practices and navigate what services are available to them.

"We proudly support medical professionals throughout their entire career – from student to established professional – and we understand the unique journey they're on," says Niranjan Vivekanandan, vice president, RBC Healthcare. "Practice Solutions offers a connection to a variety of innovative partners who can help with the operation of what is effectively a small business – a skillset physicians may not have."

Practice Solutions is a package of services aimed at helping physicians increase their billings, reduce their practice overhead and improve the overall patient experience.

RBC Healthcare has partnered with four health tech firms who will provide these services, including Dr. Bill, a mobile-first platform that allows physicians to process and submit their claims electronically. This firm was recently acquired by RBC Ventures. The tools also include CHIME, a digital system to manage operations; CoHealth, a mobile-first platform that provides patients with information on health topics and Mikata Health that automates patient communications.

Practice Solutions, which is offered to RBC Healthcare Advantage Plan members, provides discounts from all partner organizations.