7 Pressing Issues Negatively Impacting Medical Practice Profitability

Most physicians agree that declining reimbursement is the most pressing issue having a negative impact on a medical practice's profitability, according to The Second Annual Practice Profitability Index: 2014 Edition, sponsored by CareCloud, in partnership with QuantiaMD.

The 2014 edition includes responses from 5,064 physicians.

When asked which are the top issues weighing on finances and negatively affecting practice profitability, respondents reported the following (Multiple responses were accepted):

•    Declining reimbursement — 60 percent
•    Rising costs — 50 percent
•    Patient Protection and Affordable Care Act — 49 percent
•    Transition to ICD-10 — 43 percent
•    Electronic health record adoption/Meaningful use — 35 percent
•    Efficiency of staff — 24 percent
•    Patient privacy and information security requirements — 18 percent
•    Other — 1 percent

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