Top 10 challenges facing medical practices today

In the recent issue of the MGMA magazine Connexion (www.mgma.com), the following are the top ten challenges facing medical practices today per a survey of the MGMA membership:

  1. Preparing for reimbursement models that place a greater share of financial risk on the practice
  2. Participating in the CMS EHR meaningful use incentive program
  3. Dealing with rising overhead costs
  4. Selecting and implementing a new EHR system
  5. Implementing and/or optimizing an accountable care organization
  6. Managing finances with the uncertainty of Medicare reimbursement rates
  7. Modifying the physician compensation formula to more heavily emphasize quality measures
  8. Recruiting physicians
  9. Negotiating contracts with payers
  10. Maintaining physician compensation levels

I agree with all of these - I see my clients facing and dealing with most of them on a daily basis. So how are you gearing up to meet these challenges????

Have questions? I’m here to help.

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About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >

Reed Tinsley, CPA