GE Healthcare Camden Group Insights Blog

Top 10 Challenges Facing Medical Practice Group Leaders

Posted by Matthew Smith on Sep 5, 2012 11:33:00 AM

10 ChallengesMedical practice professionals responding to MGMA-ACMPE's fifth annual medical practice survey discussed some of the most glaring issues group practices face today.

Here are the top ten challenges noted from the survey of more than 1,250 respondents.

  1. Managing finances with the uncertainty of Medicare reimbursement rates.
  2. Preparing for reimbursement models that put greater financial risk on practices.
  3. Preparing for the transition to ICD-10.
  4. Dealing with rising operating costs.
  5. Participating in CMS' electronic health record meaningful use incentive program.
  6. Understanding the total cost of an episode of care from the perspective of the payor.
  7. Collecting payment from high-deductible health plans and/or health savings account patients.
  8. Maintaining physician compensation levels.
  9. Managing group practice finances.
  10. Recruiting physicians.

In today’s challenging healthcare environment, medical practices that lack effective management controls quickly develop problems in patient service, financial performance, and physician and staff satisfaction. While they try their best to meet these practice demands, many practices simply lack adequate knowledge of their inefficiencies.

Health Directions works with physician practices so they gain control of the business side of their medical practices. By working cooperatively with providers and office staff, Health Directions enables practices to overcome difficult challenges and identify new opportunities.

The Health Directions team members rely on their hands-on experience managing both independent and hospital-owned practices. We use our practical expertise to augment current and/or provide temporary leadership in support of long-term solutions.

Specifically, Health Directions provides the following Practice Management services:

  • Practice start-up: Health Directions coordinates every aspect of practice development: staffing, technology, clinical operations, patient flow, business office processes, revenue cycle management and managed care contracting.
  • Practice turnaround: We provide the hands-on leadership needed to reduce staff turnover, improve the patient experience, boost physician satisfaction and achieve strong profitability.
  • Interim management: Our team members provide outstanding value by using interim management to address longstanding practice issues, guide organizational transitions and consolidate operational improvements.
  • Medical practice assessment: Health Directions reviews the operational and financial aspects of the practice, including staffing, workflow, systems, billing and collections. By gathering data, interviewing key staff, observing workflow and analyzing reports.
  • Practice Education: Health Directions leads and executes practice retreats and workshops aimed at improving operations, enhancing collaboration, and building market share. To augment day-to-day practice operations, Health Directions offers a range of half-day sessions pertaining to effectivepractice management.

Let Health Directions work with you to develop efficient practice operation and increased cash flow while you advance the quality care of your patients and strategically position your practice for future growth. 

Simply click on the button below to receive our complimentary Practice Pulse checkup that will deliver estimates identifying:

  • Amount of increased practice revenue per year
  • Amount of increased collections per year
  • Amount of increased patient volume
  • Amount of reduced operational costs
Strategic Provider Planning, Specialty Mix

Topics: EHR, Meaningful Use, Medicare, Reimbursement, Physician Recruitment, ICD-10, Operating Costs, Revenue Cycle

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