MGMA released its “Performance and Practices of Successful Medical Groups” data report, which evaluated 3,864 organizations. MGMA identified 1,036 practices that excelled above the rest.
Here’s what made a successful practice:
1. Practices that stood out excelled in metrics related to operations, profitability, productivity and value.
2. These practices also excelled in:
- Actively monitoring revenue cycle
- Monitoring provider output, operating costs and revenue
- Reporting and tracking quality metrics and values
3. MGMA also asked 704 healthcare leaders what area they were targeting to improve in their practice:
- 31 percent said profitability
- 30 percent said operations
- 24 percent said productivity
- 11 percent said value
View the entire report here.
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