Medical Practices' Operating Costs Up 53% Since 2001

Medical practices trimmed general operating expenditures by 2.2 percent in 2010, according to a survey from the Medical Group Management Association.

While those expenses have declined, general operating costs increased by 52.64 percent since 2001 — exceeding revenue gains during that same timeframe. Total medical revenue in multispecialty practices not owned by hospitals or systems increased 45.87 percent since 2001, or 8.5 percent since 2009.

Practices' spending on furniture and equipment decreased 23.37 percent since 2010 and drug supply costs have decreased 8.52 percent. Medical practices reported rising expenditures for total support staff (an increase of 4.78 percent since 2010) and medical and surgical supplies (an increase of 7.43 percent since 2010).

Click here for more from the Cost Survey for Multispecialty Practices - 2011 Report Based on 2010 Data.

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