1. Expenses per clinician on staff are on the rise. The average medical and surgical supply costs paid by practices per full-time physician on staff have increased by 82% in a 10-year span, according to a report released in May by the Medical Group Management Association. Further, the median drug costs per physician employee have increased by 106%.
2. Although practice revenue is up, so are expenses. A report from Syntellis found that revenue among physician practices was up by 6% at the beginning of this year. However, expenses increased even more at 8%. Further, according to May 12 data from the Bureau of Labor Statistics, the Consumer Price Index increased by 3.4% in the last year, putting even more financial strain on practices.
3. Practices are still struggling with the physician shortage. A May report from Doximity found that among multispecialty practices, 76% said the ongoing physician shortage has either moderately or significantly affected their practice. Among single specialty groups, that percentage was 68%.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.