Top 10 Challenges Facing Medical Practices Today —MGMA
The Most Critical Challenges Confronting Medical Practices
Recently, the Medical Group Management Association (MGMA) published results of its member survey and listed the top challenges facing physician practices today. Reed Tinsley recaps results. Here are critical factors physician executives should focus on to control costs, build incentives, ease management, and strengthen growth.
“How are you gearing up to meet these challenges?”
In the recent issue of the MGMA magazine Connexion (www.mgma.com), the following are the top ten challenges facing medical practices today per a survey of the MGMA membership:
- Preparing for reimbursement models that place a greater share of financial risk on the practice
- Participating in the CMS EHR meaningful use incentive program
- Dealing with rising overhead costs
- Selecting and implementing a new EHR system
- Implementing and/or optimizing an accountable care organization
- Managing finances with the uncertainty of Medicare reimbursement rates
- Modifying the physician compensation formula to more heavily emphasize quality measures
- Recruiting physicians
- Negotiating contracts with payers
- Maintaining physician compensation levels
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