Improving patient access and care delivery amid the shift toward value-based care are back as top priorities for healthcare leaders as the industry emerges from a pandemic while working to clear new hurdles in hiring, retention and finances.
There is little doubt that the gradual move away from fee-for-service (FFS) toward value will continue, and physician and administrative leaders will define the best approaches to engage patients for better care outcomes and financially beneficial results for practices.
The 2022 MGMA DataDive Practice Operations survey report, based on 2021 data from more than 2,300 organizations from a variety of specialties and practice types, offers brand-new benchmarks related to the shift to value-based reimbursement and quality measure performance, detailing key performance indicators (KPIs) that reflect incredible operational changes that have evolved patient engagement and impacted medical practices’ financial resilience.
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Among the key findings:
- Revenue from value-based contracts remains a small fraction of all medical revenue in most specialties, with a median value-based revenue of $30,922 per full-time-equivalent (FTE) provider.
- The return of patient volume in 2021 led to interesting shifts in appointment scheduling benchmarks, as higher demand for care saw no-show rates hold steady and an uptick in cancellation rates.
- The digital expansion of practice operations in 2020 continued in 2021, as overall patient portal use increased.
- Increased care volumes, claim denials and staffing shortages combined to spur concerning shifts in billing and collections benchmarks, as copay collections at time of service declined and charge-posting lag times increased for specialist practices.