U.S. physician practices with superior operational and financial performance are preparing for value-based care, adopting new technology and improving patient experience, according to the 2017 Practice Performance Index.
The PPI study, conducted by CareCloud and UBM Medica, examines survey responses from more than 2,000 physicians and practice administrators. In the study, practices were designated as high-performing, managing or falling behind based on their financial and operational performance over the last three years, researchers said.
Financial and operational performance was designated based on increases in practice collections, number of practice locations, number of providers, total patient volume and provider satisfaction, among other criteria.
Here are five study findings comparing high-performing practices with those falling behind.
1. More than half (56 percent) of high-performing practices have a plan for the shift to value-based care, the study found. This compares to 32 percent of falling behind practices.
2. More than half (53 percent) of high-performing practices also strive to earn a full or partial Medicare Access and CHIP Reauthorization Act incentive this year, according to the study. This compares with only 35 percent of falling behind practices.
3. When it comes to adopting new technologies, high-performing practices are twice as likely to do so than falling behind practices.
4. The study found more than two-thirds of high-performing practices embraced patient portals. Researchers also said these high-performing practices were leading in technological innovation, adopting advanced population health analytics, telemedicine, iPad-based intake forms and check-in kiosks.
5. The study found high-performing practices are significantly more likely to survey patients and use online review sites. More than 80 percent high-performing practices do so, compared to almost 50 percent of falling behind practices.
Read the full study findings here.