Regulatory changes can be particularly trying for physician groups, with many providers allocating more time and resources to meeting regulatory requirements.
Medical Group Management Association polled 750 physician group practices to see what they deem burdensome in their "2017 Regulatory Burden Survey."
Here are five things to know:
1. Sixty-four percent strongly agreed reducing Medicare regulatory complexity would allow their practice to put more resources toward patient care, compared to only 12 percent that strongly disagree with the statement.
2. Of those polled, 82 percent ranked the Medicare Quality Payment Program as "extremely burdensome," with lack of electronic attachments for claims and prior authorizations coming next at 74 percent.
3. Thirty-eight percent spent between $10,001 and $40,000 per full-time equivalent physician to comply with new and current federal regulations. Fourteen percent spent more than $100,000.
4. Regarding if they are participating in the Merit-based Incentive Payment System this year, 84 percent said yes and 16 percent said no.
5. Forty-one percent said they reported MIPS' full set of data with the overall goal of attaining a positive payment adjustment and qualification for a substantial performance bonus in 2019.