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News & Insights

Leveraging Physician Analytics to Improve Practice Profitability

Insight Article

Data Analytics & Reporting

MGMA Staff Members
by nThrive and MGMA Staff Members

The number of physician practices acquired by hospitals has increased nearly threefold since 2012. And yet, with median losses per full-time-equivalent (FTE) physician ranging from $150,00 to $400,000, most of these hospital/IDS-owned practice are considered unprofitable. 

Why then does the integrated healthcare delivery model continue? Either through data or hunch, health systems understand the perceived unprofitability of employed physicians is more than made up for by, among other things, referrals and ancillary services.

The trick is to transform the hunch into data, to clarify and optimize what constitutes a data set, and to improve methods of data analysis. In partnership with MGMA, nThrive has produced a white paper for practices and healthcare systems seeking to:
  • Define what can be improved analytically and operationally
  • Understand natural market barriers 
  • Take steps toward measuring key revenue and cost gaps
  • Peer into an improved operational workflow model
  • Choose and implement an analytics platform.
This new report, Physician Analytics: Leverage data to improve physician practice profitability, includes key visuals of advanced analytics dashboards, a checklist of important questions to ask when considering suppliers, and a brief case study of a successful implementation in a challenging environment of multiple independent data streams. Access the full white paper via the embedded flipbook or download the report via the button below.
 

Download the full report (PDF)

Learn more

Join Kyle Kobe, vice president of consulting and analytic services at nThrive, for a live webinar, "Leverage Physician Analytics During COVID and Beyond to Improve Physician Practice Profitability," at 1 p.m. EST Thursday, April 3, for a review of how COVID-19 is changing the healthcare industry, how to accurately assess the financial health of your practice, and organize and leverage analytics to improve performance after the crisis.

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