Despite a constantly changing healthcare landscape, today's medical group leaders are stronger than ever. After evaluating 4,098 groups, 1,119 stood out above the rest in at least one of four focus areas: Operations, Profitability, Productivity and Value. With access to this data set, you can see where top performers are excelling and how your practice stacks up to the best and brightest.
It's no easy feat to maintain success in all areas of medical practice management, so we applaud our Better Performers for continuing to improve and set the bar high for healthcare organizations everywhere. Thank you to all who are actively working towards advancing healthcare excellence.
Key Data Insights
Total Medical Revenue
- Medical revenue per FTE physician was reported higher for all better-performing practice types except non-surgical specialty practices.
- Better-performing primary care practices collect nearly 9% more accounts receivable in the first 30 days after service and have less A/R outstanding after 120 days than their counterparts.
Total Median Compensation
- Except in primary care practices, better-performing practices report a double-digit percentage increase for copayment collections at the time of service.
- Physicians in better-performing practices report earning more in total compensation when compared to their counterparts in all critical areas.
For healthcare leaders setting their 2023 goals and beyond, this kind of comprehensive analysis can help tether decisions to approaches that have already proven successful in the real world while maximizing their chances of practice success.
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:
How to access this data:
Access to the Better Performers data set is limited to those who contribute data to our annual MGMA DataDive Compensation & Production (both provider and management and staff portions), Cost & Revenue and Practice Operations Surveys OR purchase the MGMA DataDive All Access data set. Those with All Access Organizational Memberships will also be able to access it.