Study: Rising Operating Costs Top List of Practice Challenges for 2010

A Medical Group Management Association survey reported a shift in day-to-day challenges for medical practices from 2009 to 2010, according to an American Academy of Family Physicians report.

The issue of dealing with rising operating costs topped the list of practice challenges in 2010, followed by uncertainty of Medicare reimbursement rates and implementing an EHR.

The other top 10 challenges to medical practices this year (in descending order beginning with No. 4) are:
•    maintaining physician compensation levels;
•    recruiting physicians;
•    collecting from patients with self-pay, high-deductible health plans or health savings accounts;
•    negotiating contracts with payors;
•    managing teamwork and group dynamics among physicians;
•    modifying physician compensation methodology; and
•    participating in CMS' Physician Quality Reporting Initiative, or PQRI.

Read the AAFP report on medical practice challenges.

Read more on hospital business.

-Four Major Challenges in the Hospital Revenue Cycle

-Five Tips on Point-of-Service Collections

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