MGMA: New reimbursement models are practices top worry

Preparing for reimbursement models that place a greater share of financial risk on the practice is the top challenge cited by group practices, according a survey by the Medical Group Management Association (MGMA).

According to the report, “Medical Practice Today: What Members Have to Say,” the top five challenges of running a group practice are:
1. Preparing for reimbursement models that place a greater share of financial risk on the practice;
2. Participating in the Centers for Medicare & Medicaid Services' (CMS) meaningful use incentive program;
3. Dealing with rising operating costs;
4. Selecting and implementing a new EHR system; and
5. Implementing and/or optimizing an accountable care organization model.

“Operational and financial challenges—and the uncertainty associated with those issues so fundamental to the financial health and viability of a practice—continue to be difficult territory for those who lead medical practices,” stated William F. Jessee, MD, FACMPE, president and CEO of the MGMA, based in Englewood, Colo.

Within the top five reported challenges, there were differences among medical specialties, according to the MGMA. For example, cardiology practices found the top-ranked challenge, “Preparing for reimbursement models that place a greater share of financial risk on the practice,” more challenging than their peers in other specialties. 

In addition, respondents found some issues to be even more challenging this year than in 2010, associated with new operational elements and IT adoption. “Implementing and/or optimizing a patient-centered medical home” was 8.5 percent more challenging than last year. “Implementing standardized, machine-readable patient ID cards” was 9.1 percent more challenging, according to the MGMA.

The study results were based on responses to a web-based survey conducted during the week of Jan. 7. Members rated 44 issues and identified challenges that were most applicable to their daily work. For each issue, respondents rated the degree of challenge on a five-point scale: 1 = no challenge, 2 = low challenge, 3 = moderate challenge, 4 = considerable challenge and 5 = extreme challenge. The MGMA received responses from 1,190 individuals.