Business
MGMA notes "successful" group traits
NEWS IN BRIEF — Posted April 17, 2006
The more successful medical groups pay closer attention to staffing issues and invest in ancillary service lines, according to a recent report published by the Medical Group Management Assn.
The report, "2005 Performance and Practices of Successful Medical Groups: 2005 Report Based on 2004 Data," distinguishes "better performer" groups from "others" based on performance, and it attempts to pinpoint factors in their success. The report says more than 40% of the groups classified as better performers acquired equipment and materials to provide new services in 2004, compared to only 7.4% of groups in that category that said they did not. Only 33% of other groups said they had acquired equipment for new services in 2004, according to the report.
Revenue per full-time equivalent physicians was $362,660 in better performing groups, a nearly 33% increase over the $273,037 reported for other groups, according to the report. Meanwhile, operating costs per physician was higher among better performing groups in 2004 as well, leading MGMA researchers to the conclusion that investments in support staff contribute to higher productivity, according to the report.
The report was based on data collected from more than 1,200 groups for MGMA's 2005 cost survey as well as from responses to an additional questionnaire that asked practices for operations and financial information.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/04/17/bibf0417.htm.
