IT expenses are on the rise for most physician practices, according to a Medical Group Management Association report.
The report, titled the "2017 MGMA DataDive Cost and Revenue Survey," details key factors medical groups cite as improving or hindering their profitability and productivity. MGMA compared data from more than 2,900 healthcare organizations and 40 medical specialties and practice types.
Physician practices' operating expenses increased at nearly the same rate as revenue between 2015 and 2016, according to the report. One driver of operating expenses is IT, which includes maintaining purchased IT services like EHRs and patient portals and contracting for the repair of hardware and software.
Physician-owned practices spent between $2,000 and $4,000 more per full-time physician on IT operating expenses within the last year compared to 2015. This increase resulted in a total expense of roughly $14,000 to $19,000 in IT operating expenses per physician each year.