Financial Innovation Is A Big Challenge

For the sixth year, medical practice executives revealed their biggest daily professional challenges to MGMA and disclosed their struggles to adapt to rapid changes, legislative pressures and fiscal uncertainty. According to 1,067 respondents to the “Medical Practice Today: What members have to say” research, the top five most applicable and intense challenges of running a group practice are:

  1. Dealing with rising operating costs
  2. Preparing for reimbursement models that place a greater share of financial risk on the practice
  3. Managing finances with the uncertainty of Medicare reimbursement rates
  4. Collecting from self¬-pay, high-deductible, and/or health savings account patients
  5. Understanding the total cost of an episode of care

Read the full article at Medical Group Management Association

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