Medical Practice
Medical Practices Are Boosting Wages To Maintain Their Workforce, But Is It Sustainable!?
Independent medical practices have been suffering for over a decade. That has resulted from increased administrative burden, patient expectation, and emerging user unreceptive technologies such as Electronic Health Record Systems (EHR). But amid the more recent implementation of value-based reimbursement, the challenges to medical practices have further expanded.
According to a survey by MGMA (Medical Group Management Association), challenges associated with human resources comprise one of the top three in 2022 at 26%.
The Revenue cycle management exceeds this challenge at a 27% rate. That is why based on another survey conducted by the same agency on April 13th, 2022; amid the fears competitive market for talent where medical staff is constantly seeking better opportunities, medical practices are raising salaries to sustain their workforce.
Medical practices are experiencing sundry challenges in the year 2022. These include tribulations in utilizing Information technologies like EHR, Cybersecurity, Big Data, invoicing, payment processing, Telehealth, price transparency, and patient experience. However, independent medical practices take refuge in recruiting, training, and coordinating…
