Report examines how medical practices can make more money

The Medical Group Management Association has released a new report that explores the factors that lead to a medical practice earning more revenue.

The following factors, MGMA reported, are associated with higher earnings in a medical practice:

• Lower operating expenses
• Greater physician productivity
• Increased patient portal usage
• Faster patient scheduling and same-day appointment availability
• Steps taken to reduce no-shows and cancellations

The report also noted that higher-earning physician-owned practices typically spend less on information technology expenses, while better-performing hospital-owned practices usually spend more on IT than their lower-performing peers do.

Learn more about the MGMA report here.