Englewood, Colo.-based Medical Group Management Association released its "2017 MGMA DataDive Better Performers" study, which includes the five most important attributes of a profitable medical practice.
MGMA evaluated 2,941 medical practices on the four key categories of operations, profitability, productivity and value.
After analyzing its findings for the most profitable practices, the MGMA found the most profitable practices shared key similarities.
Listed below are the five most important attributes of these practices.
1. Achieving higher revenues while controlling operating expenses
2. Monitoring IT expenditures
3. Achieving greater physician productivity
4. Increasing patient portal usage
5. Overall effectiveness in faster patient scheduling, same-day appointment availability and minimizing no-shows and cancellations
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