July 11, 2008 – ValuSource Software and Medical Group Management Association (MGMA) released two Web-based dashboards that enable physicians and group practices to enter a few variables about physician compensation and production and costs and compare themselves to national norms.
To gauge physician compensation and production, users select their specialty from a pull-down menu, enter information about compensation, collections, gross charges, ambulatory encounters, surgery/anesthesia cases and work RVUs. The dashboards compare that data to national norms and produce a series of six gauges that measure physician performance in specific areas (using a simple red-yellow-green visual score).
Similarly, to calculate how their practice costs compare to that of other practices nationwide, users enter variables detailing accounts receivable (A/R), medical revenue, support staff, and operating costs per physician.
With reimbursement down and practice costs rising, practices of all sizes can measure practice performance in order to enhance it.
For more information: www.mgmadashboards.com