In this special edition of the MGMA Executive Session podcast, regular host David N. Gans, MSHA, FACMPE, senior fellow, MGMA, takes a turn being asked the questions by Andrew Hajde, CMPE, senior industry advisor, MGMA, about his recent Data Mine column in the July issue of MGMA Connection magazine.
MGMA members enjoy exclusive access to the print and flipbook versions of the Data Mine column.
Before we get started in our main topic for today, do you have any initial insights?
The most recent Data Mine article, “The secret to staffing success,” appearing in the July print edition of MGMA Connection
magazine, looks at how the number of staff relate to the profitability of the practice, and the secret of practices that have better financial success. Is it really having more staff, or is it other things? I think the data are extremely interesting.
Dave, as you know, I worked in group practice management for many, many years. When I read your article, I was extremely excited about all the different correlations of data and different things that were going on. When I first read through the article, I wasn't really sure how much to expect to see an exact correlation between that total revenue and total staffing ratios. So, I kind of got some surprises when I looked at some of the scatterplots or other information that were out there. And the other part that kind of surprised me was just the continuing trend of total staffing patterns between physician-owned and hospital-owned practices and how those vary from each other.
Having worked with the MGMA data for so long, I was able to utilize the raw database of information and create variables that are not normally looked at in practices —looking at, in this case, hundreds of practices that are similar and saying, “Are there patterns of information?”