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Could you discuss several benchmarks that surgery center leaders overlook or under-use in their benchmarking efforts?

Becker's ASC Review, a site that provides Practical Business, Legal, and Clinical Guidance for Ambulatory Surgery Centers, recently published an article on benchmarks that ASC administrators often neglect. These are important benchmarks not just for ASCs, but for any physician executives, healthcare practice managers, and the valuators and consultants they work and plan with. An excerpt: Chance Sherer, mana ...

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Medical Practice Benchmarking, Financial Performance, and Quality Care

Medical Practice Benchmarking, Financial Performance, and Quality Care Benchmarking physician practices is an important way to assess practice value by comparing a practice's norms to peer practices in similar specialties or in the same geographic reason. Most physician practices, according to experts, can benefit substantially from benchmarking. Moreover, it's pretty easy to do! Here David Fein discusses w ...

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Physician practices are increasingly undergoing consolidation

What Data Valuators Need from Physician Practices—and Why! Physician practices are increasingly undergoing consolidation. Often that means being acquired by a hospital, and a prerequisite of being acquired is having a valuation performed by an independent, third-party valuator. Here’s information on the sort of data that valuators need (and that physician practices should be collecting today), an explanatio ...

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Walked Into a Lamppost? Hurt While Crocheting? Find Correct Billing Code Here.

New Medical Billing-Code Provides Precision; Nine Codes for Macaw Mishaps  Today, hospitals and doctors use a system of about 18,000 codes to describe medical services in bills they send to insurers, Anna Wilde Matthews reported in the Wall Street Journal not too long ago.  Apparently, that doesn't allow for quite enough nuance.: A new federally mandated version will expand the number to around 140,000—addi ...

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Three Practice Management Trends for 2012

Three Practice Management Trends for 2012  For the third year, the MGMA has published the State of Medical Practice in MGMA Connexion. It's an overview of issues and industry perspectives that will shape medical practice this year. The Association collected information from healthcare professionals about the ways in which EHRs increase revenue, as well as what affects your compensation and practice collecti ...

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Practice Management Companies Look to ACOs for Growth

Practice Management Companies Look to ACOs for Growth  Physician practice management companies are forging ahead with expansion plans into new areas of hospital-based medicine as they position themselves to participate in accountable care organizations and other aspects of health system reform, reports Victoria Stagg Elliott at American Medical News. The companies are not buying primary care and other outpa ...

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Adjusting, More M.D.’s Add M.B.A.

Adjusting, More M.D.’s Add M.B.A. Under heavy pressure from government regulators and insurance companies, more and more physicians across the country are learning to think like entrepreneurs, reports Milt Freudenheim at the New York Times: “All physicians need some kind of business training,” she said. “For example, some physicians with large research grants don’t know how to manage the money.” As for the ...

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Medical Group Management Association (MGMA) Survey Reports Top Challenges

Medical Group Management Association (MGMA) Survey Reports Top Challenges MGMA members were asked to identify top management challenges, and the results of the 2011 survey are in:    See what MGMA members had to say about the results in the July MGMA Connexion. Compare this year's results with previous years. Read the story behind the numbers and see how challenges are ranked by applicability. ...

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The Accountable Care Fiasco

The Accountable Care Fiasco That's what the Wall Street Journal calls the state of developing real-world guidelines for "the Accountable Care Organizations that are supposed to be the crown jewel of cost-saving reform." The theory for ACOs, as they're known, is that hospitals, primary-care doctors and specialists will work more efficiently in teams, like at the Mayo Clinic and other top U.S. hospitals. ACOs ...

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