Patients Fear Your Disapproval; Thieves Eye Your Medical Records; More

Marcy Tolkoff, JD

Disclosures

December 26, 2014

In This Article

All of Those New Rules Bump Up Practice Costs

Medical practices reported a 4.6% increase in spending on business operations staff per full-time-equivalent (FTE) physician since last year, according to MGMA's Cost Survey: 2014 Report Based on 2013 Data.[3] Multispecialty practices reported $52,009 per FTE physician for business staff (administrative, IT, accounting, and administrative). Of note, the findings also revealed that physician-owned practices used more total support staff than hospital/integrated delivery systems (IDS)-owned practices, regardless of practice type.

Why the bump? MGMA suggests that practices could be spending more on business staff because of the need to place greater value on employing staff with expertise in the business of care delivery and the ability to comply with complex regulations, manage and report metrics, negotiate payer contracts, and understand insurance exchange plans.

"Medical practice executives are an integral part of the healthcare framework and are playing an increasingly important role in serving patients, as there is an entire business and structure behind effective care-delivery models," said Laura Palmer, MGMA senior industry analyst. "Employing staff with expertise in medical practice management can position the practice for long-term success and sustainability."

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