Business
Biggest challenges facing groups
■ An occasional snapshot of current facts and trends in medicine.
Quick View. Posted Aug. 25, 2008
| Rated as a top challenge by: | |
|---|---|
| Maintaining physician compensation in an environment of declining reimbursement | 69.9% |
| Dealing with operating costs that are rising more rapidly than revenues | 68.0% |
| Selecting and implementing a new electronic health record system | 67.8% |
| Recruiting physicians | 61.4% |
| Managing finances with the uncertainty of Medicare reimbursement rates | 56.9% |
| Negotiating contracts with payers | 54.4% |
Negotiating contracts with payers may not be a top headache for group practice managers. But it's still a hassle: Contract negotiation came in sixth in a survey of challenges facing medical group practice management professionals.
More than 54% of the 1,393 responses received in an online survey conducted by the Medical Group Management Assn. said contact negotiations are a considerable or extreme challenge. However, the reimbursements those contracts are bringing influence much of what made up the top five challenges.
Participants were asked to rate their level of challenge on 34 practice and professional issues, from 1 (no challenge) to 5. Top challenges were those receiving the most ratings of 4 (considerable) and 5 (extreme).
Source: "Medical Practice Today: What Members Have to Say," conducted by Medical Group Management Assn., March. (a href="">www.mgma.com/press/article.aspx?id=20610
