"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.
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.
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.
MGMA DataDive Resources