Medical practices see greater profit and productivity when they have more nurse practitioners and physician assistants per physician, new data from the Medical Group Management Association suggests.
The MGMA DataDive Cost and Revenue data was collected from more than 3,000 organizations, representingmore than 40 specialties and practice types from 2013-2017.
The data showed primary care practices with 0.41 nonphysician providers, such as nurse practitioners and physician assistants, per full-time equivalent physician or more had greater medical revenue compared to primary care practices with 0.20 or fewer nonphysician providers per full-time equivalent physician.
Physician-owned primary care practices with more nonphysician providers reported earning $100,748 more in revenue after operating expenses per physician than practices with fewer such workers, according tothe association. Hospital-owned primary care practices with more nonphysician providers reported earning $131,770 more in revenue after operating expenses per physician.
Additionally, higher-productivity multispecialty practices (those producing more than 8,388 work relative value units per physician) reported earning 160 percent more in medical revenue and have nearly three more support staff per physician compared to lower-productivity multispecialty practices (those producing fewer than 5,680 work relative value units per physician).
Read more about the data here.
More articles on healthcare finance:
RCM tip of the day: Train registrars on insurance billing details
Wilshire Group adds senior revenue cycle consultant: 3 things to know
5 new developments on ACA's risk-adjustment payments