Even though the mandate to digitize healthcare is expected to eventually result in streamlined operations and lower overall cost profiles, physician-owned, multi-specialty practices reported a nearly 12 percent increase in total operating costs associated with technology in 2014 compared to 2013, according to a new survey conducted by the Medical Group Management Association.
With support needs for physicians, necessary upgrades to improve records management, optimize workflow and meet HIPAA compliancy requirements, and adapting to the way multi-generational patients request healthcare, medical practices need to incorporate technology at a greater level.
As a result, technology spending per full-time equivalent physician last year was $20,693. Since 2010, this number has increased by almost 34 percent, showing how much impact the technology boom and mandated electronic health records has had on individual practices.
“As technology continues to evolve, medical practices must likewise also evolve,” said Halee Fischer-Wright, CEO of MGMA. “The way patients ask for and receive care is changing. The increased use of technology can improve the quality of patient care by improving records management, optimizing workflow and meeting HIPAA compliancy requirements.”
Medical practices also reported an increased utilization of non-physician providers (NPPs), per full-time equivalent physician. Many medical practices are using NPPs as a solution to the physician shortage and the influx of new patients resulting from the Affordable Care Act, so, physician-owned, surgical single specialties have seen a 44.07 percent increase since 2010.
“NPPs are essential members of our healthcare delivery team,” states Michael Brohawn, practice administrator at Orthopaedics East & Sports Medicine Center and MGMA member. “They improve patient care by increasing the efficiency of our physicians which allows them to focus on more acute needs. NPPs also improve patient satisfaction by creating greater access and appointment availability, and they reduce the direct and overhead costs of the practice.”