Technology-Related Costs on the Rise for Medical Practices

Sept. 25, 2015
Physician owned, multispecialty practices are spending significantly more on technology, up almost 34 percent from four years ago, according to a Medical Group Management Association report.

Physician owned, multispecialty practices are spending significantly more on technology, up almost 34 percent from four years ago, according to a Medical Group Management Association report.

In 2014, medical practices reported an 11.8 percent increase in technology-related operating costs; with an average spend of nearly $21,000 per full-time physician, according to results from the MGMA’s Cost and Revenue Survey: 2015 Report Based on 2014 Data.

The report highlights that the increase in technology costs is due in large part to the federal meaningful use program and the impact of mandated electronic health records (EHRs) on individual practices.

“As technology continues to evolve, medical practices must likewise also evolve,” Halee Fischer-Wright, M.D., CEO of MGMA, said in a statement. “The way patients ask for and receive care is changing. The increased use of technology can improve the quality of patient care by improving records management, optimizing workflow and meeting HIPAA compliancy requirements.”

The same survey also found that medical practices are increasingly using non-physician providers (NPPs) and the report credits the uptick to the physician shortage and the influx of new patients as a result of the Affordable Care Act.

Physician owned, surgical single specialties have seen a 44 percent increase in the use of NPPs since 2010.

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