MGMA DataDive All Surveys includes all our datasets, including MGMA DataDive Provider Compensation, MGMA DataDive Management and Staff Compensation, MGMA DataDive Cost and Revenue, MGMA DataDive Practice Operations and MGMA DataDive Better Performers. This incredibly diverse and comprehensive data benchmarking suite can be accessed online from any accessible device, making it as agile as you.
One simple solution to any and every challenge.
With MGMA DataDive All Surveys, solutions can show up unexpectedly. It's likely that you can relate to at least one of the following:
Revenue can always be better, claims could have a better approval frequency, staff and patients could both be more satisfied, and reducing turnover to maintain a great and consistent team seems to always be just out of reach. You may think these are several separate issues, but they all can most likely be solved with one simple solution: hire a medical coder.
Why? Stay with us…
Via the MGMA DataDive Practice Operations
dataset, we found claim denials (first submission) are on the rise, and that physicians
are usually the primary person responsible for coding the practice's patient encounters
. While practices may think they're saving money by minimizing headcount, in this instance the opposite is true.
According to the Cost and Revenue
dataset, primary care practices with the least amount of revenue
($397,521 or less per FTE physician) report conducting a median of 2,571 total encounters
per FTE physician. In comparison, primary care practices with the most revenue
($808,625 or more per FTE physician) report conducting 5,885 total encounters
per FTE physician.
Problems = Solved.
By hiring a coder, the physician is free to increase their number of encounters, which increases revenue. By increasing encounters, patients are happy that they can be seen in a more timely manner. When patients are happy, the staff is happy. When staff is happy, turnover decreases. Let's not forget that first submission denials will likely decrease, meaning timely and predictable revenue.
The Management and Staff Compensation
dataset shows the median total compensation for a coder is $44,741. In this scenario, it would be hard to find a hiring authority not in favor of this addition to headcount.
Get more ideas to solve every challenge with MGMA DataDive All Surveys today!