In new opinion research of medical group practice management professionals, members sounded off to the Medical Group Management Association (MGMA) about managing a variety of challenges while safeguarding their practices’ financial solvency.
According to the MGMA research, the major challenges of running a group practice include maintaining physician compensation in an environment of declining reimbursement, dealing with operating costs that are rising more rapidly than revenue, selecting and implementing a new electronic health record system, recruiting physicians, and managing finances with the uncertainty of Medicare reimbursement rates.
Conducted online in March 2008, the survey asked members who manage medical group practices to rate their level of challenge on 34 practice and professional issues and invited them to write comments as well. MGMA received 1,393 responses (a 12 percent response rate) and more than 500 written comments. The research is published in the July 2008 issue of MGMA Connexion magazine. Read the report.
