MGMA DataDive Better Performers

DataDive -

Benchmarking Data

"If you're the smartest person in the room, you’re in the wrong room".

This is the guiding philosophy for why we created the MGMA Better Performers dataset. Through benchmarking, a practice may establish they are doing well, but not fully realizing their potential – what they could be.

After we evaluated 3,864 groups, 1,036 of them stood out above the rest in at least one of four focus areas: Operations, Profitability, Productivity and Value. With the information in this dataset, you can unlock the door to the right room.

Regarding COVID-19

The 2020 MGMA Better Performers data is based on 2019 data and reflects information prior to COVID-19 that continues to affect practices in 2020. The reported data is a baseline for benchmarking 2020 operations. Moving forward, MGMA will consider adjusting the data collection to capture the new norm of medical practice operations.

By the numbers

Running a business, especially in healthcare, is not easy. Keeping heads above water and staying out of the red is a well-deserved cause for celebration. With this dataset, it’s important to remember that these examples are the exceptions, not the rules. But if you are in a position where you can actively commit to advancing excellence, this dataset is your North Star.

Total Medical Revenue

Across specialties, we discovered that better-performing practices report earning substantially more in total medical revenue, regardess of ownership, when compared to other practices.

TMR
Accounts Receivable

Better performing practices report collecting 6-9% more accounts receivables in the first 30 days, leaving less to be collected in the 120+ days bucket.

Total Median Compensation

Physicians in better-performing practices report earning more in total compensation when compared to their counterparts in other practices. TMC
We can confidently say that if we were running a practice, we would welcome differences like these. Imagine what else this unique dataset can illuminate for your organization?

What does it take to be a Better Performer? 

A practice can be a Better Performer by achieving success in four main areas - but not just any success. They must fit into the top percentiles nationally in one or all of the four evaluation areas that serve as the levers of best outcomes:
  • Operations
  • Profitability
  • Productivity
  • Value
Download full criteria

How to access this data:

Access to the Better Performers dataset is limited to those who contribute data to our 2020 Compensation & Production (both provider and management and staff portions), Cost & Revenue and Practice Operations Surveys OR purchase the 2020 MGMA DataDive All Surveys dataset. Those with All Access Organizational Memberships will also be able to access.
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