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What makes a medical practice successful?

MANAGED CARE April 1999. © MediMedia USA
Compensation Monitor

What makes a medical practice successful?

MANAGED CARE April 1999. ©1999 Stezzi Communications

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What distinguishes the better-performing medical group practice from all the others? The Medical Group Management Association wanted to know, and now it does — at least, it has the numbers. You can't quantify inspiration, dedication, skill, and attitude, but you can look at many of the outward characteristics of physicians and practices. MGMA put this together in a booklet, 1998 Performance and Practices of Successful Medical Groups. Though better-performing primary care single-specialty groups had higher physician costs as a percentage of total net revenue, they had far higher revenues (after operating costs) for each full-time-equivalent (FTE) physician.

SOURCE: MEDICAL GROUP MANAGEMENT ASSOCIATION, ENGLEWOOD, COLO.