Technology and the increased need for nonphysician providers are driving physician-owned, multispecialty practices to significantly increase spending on total operating costs per full-time-equivalent physician.
In fact, according to a survey from Englewood, Colo.-based Medical Group Management Association, physician-owned, multispecialty practices reported a 12.02 percent increase in spending on total operating costs per FTE physician since 2010.
Here are three key findings from MGMA's "Cost and Revenue Survey," which includes 2014 data from 3,120 groups, to explain this trend.
- Physician-owned, multispecialty practices reported spending $20,693 per FTE physician in 2014 on technology-related operating costs — indicating 11.87 percent growth between 2013 and 2014.
- Spending on technology-related operating costs has increased 33.92 percent since 2010.
- Physician-owned, surgical single specialty practices increased the use of nonphysician providers by 44.07 percent between 2010 and 2014. These practices now have about 0.85 FTE nonphysician providers to every one FTE physician.
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