Selecting and implementing an electronic health record system is among the top concerns physician practice managers list in a new survey by the Medical Group Management Association.
According to the research, the top five major challenges of running a group practice are:
1) Maintaining physician compensation in an environment of declining reimbursement;
2) Dealing with operating costs that are rising more rapidly than revenue;
3) Selecting and implementing a new electronic health record system;
4) Recruiting physicians; and
5) Managing finances with the uncertainty of Medicare reimbursement rates.
"Medical group practice management professionals have one of the most difficult jobs in healthcare," said William F. Jessee, MD, president and CEO of MGMA. "Each of these issues is singularly very taxing. Yet, if you look at the cumulative effects of these issues, as well as the myriad others that didn't make the 'short list,' you get a glimpse of the challenges that management professionals tackle every day in their practices. Their dedication and professionalism are admirable."
The MGMA conducted the survey online, asking members who manage medical group practices to rate their level of challenge on 34 practice and professional issues. MGMA received 1,393 responses (a 12-percent response rate) and more than 500 written comments.
The survey also asked practice managers how they view themselves in their profession. While almost all respondents (95.7 percent) see themselves as professionals in their role as group practice leaders, others in the practice need education about their profession, the researchers note. Even with groups such as MGMA continually advocating for recognition of the group practice management profession, little more than half (56.5 percent) of respondents agree that the physicians in their practice believe that medical practice management is a profession.
Rating their satisfaction as "considerable" or "total," respondents revealed:
- 41.6 percent are satisfied with their compensation;
- 48.7 percent are satisfied with their job security; and
- 33.3 percent are satisfied with their work hours and work/life balance.
In five years, 42.6 percent of respondents see themselves working in their current practice and 58.1 percent intend to stay in medical practice management. Underscoring a growing trend of consolidation and integration, more than a quarter of respondents (25.3 percent) see themselves working in a hospital system or integrated delivery system in five years.
The research is published in the July 2008 issue of MGMA Connexion magazine.
Has your medical practice encountered unique problems in selecting and implementing an electronic medical record system? Send your comments to Editor Bernie Monegain at bernie.monegain@medtechpublishing.com.