5 key trends in physician practice costs

Here are five key trends from the MGMA Cost and Revenue Survey.

1. There has been a 12 percent increase in spending on total operating costs per full-time-equivalent physicians since 2010.

2. Physician-owned, multispecialty practices reported an 11.8 percent increase in spending on operating costs associated with technology over 2013. These practices spent around $20,693 per FTE physician last year.

3. Over the past five years, the amount physician-owned, multispecialty practices spent per full time employed physician increased 33.9 percent. This shows the impact of technology and mandated electronic health records on individual practices.

"As technology continues to evolve, medical practices must likewise also evolve," said MGMA CEO Dr. Halee Fischer-Wright. "The way patients ask for and receive care is changing. The increased use of technology can improve the quality of patient care by improving records management, optimizing workflow and meeting HIPAA compliancy requirements."

4. There is increased utilization of non-physician providers per FTE physician. Physician-owned, surgical single specialties are reporting a 44 percent increase over the past five years from 0.59 in 2010 to 0.85 non-physician provider FTEs per FTE physician in 2015.

5. Physicians are now using more non-physician providers as a solution to the physician shortage and influx of new patients from the Affordable Care Act.

"NPPs are essential members of the healthcare delivery system," said Practice Administrator at Orthopaedics East & Sports Medicine Center Michael Brohawn. "They improve patient care by increasing the efficiency of our physicians which allows them to focus on more acute needs. NPPs also improve patient satisfaction by creating greater access and appointment availability, and they reduce the direct overhead costs of the practice."

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