Preparing for reimbursement models that place a greater share of financial risk on the practice is the biggest challenge that medical practice managers struggle with.
The biggest challenge medical practice managers struggle with is preparing for reimbursement models that place a greater share of financial risk on the practice, according to a survey by the Medical Group Management Association.
The MGMA 2011 Medical Practice Today: What Members Have to Say survey reported that respondents are struggling to adapt their professions and practices to a time of rapid change, legislative pressure and fiscal uncertainty.
Of the respondents, 66.5% said that preparing for reimbursement models that place a greater share of financial risk on the practice was one of the challenges of running a group practice. The other top five were:
participating in the Centers for Medicare & Medicaid Services' EHR Meaningful Use incentive program; dealing with rising operating costs (the number one challenge the previous year); selecting and implementing a new EHR system; implementing and/or optimizing an accountable care organization.
“Operational and financial challenges
and the uncertainty associated with those issues so fundamental to the financial health and viability of a practice
continue to be difficult territory for those who lead medical practices,” William F. Jessee, MD, FACMPE, president and chief executive officer of MGMA, said in a statement. “Also, the pressure to adopt technology and the morass our members face in determining the best systems for their practices, and then complying with the various government programs to receive incentives and avoid penalties, are proving to be of particular concern.”
There were differences among medical specialties. The orthopedic surgery practices, managers listed selecting and implementing a new HER system to be more challenging.