"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 4,099 groups, 829 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
Q: Will adjustments be made to the data to account for the pandemic?A: The data reported in the 2021 MGMA DataDive products, based on 2020 survey data will be reflective of 2020 actual data, and will not be adjusted in any manner. Collecting and reporting on the 2021 surveys (based on 2020 data) in the same manner as previous years allows us to view true apples-to-apples comparisons in year-over-year trends. We recommend referring to both the 2020 MGMA DataDive (based on 2019) and 2021 MGMA DataDive (based on 2020) to help set targets for recovery.
Q: Will the 2021 reports demonstrate the full impact of the pandemic?A: The 2021 survey reports will reflect data on 2020 at an annual level. MGMA also conducted a survey on 2020 monthly trends, which is a great supplement to the full annual reports. The 2020 Monthly Survey Report will be available to 2021 MGMA DataDive/Organizational Membership purchasers.
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 after operating costs, regardless of ownership, when compared to all survey-responding practices.
Accounts Receivable
Better performing practices report
collecting 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 all survey-responding practices.
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 annual Compensation & Production (both provider and management and staff portions), Cost & Revenue and Practice Operations Surveys OR purchase the MGMA DataDive All Access dataset.
Those with All Access Organizational Memberships will also be able to access.
MGMA DataDive Resources