Association serves as resource for Texas physicians and practices

With physicians and practice leaders constantly on the lookout for ways to improve their business skills, professional associations serve as valuable sources of new material. TAFP has partnered with the Medical Group Management Association to provide members with a discounted rate to access the organization’s benchmarking data.

MGMA is most widely known as a resource for data and benchmark information, and releases an annual survey report. Surveys focus on practice revenues and expenses, provider and management compensations and group performances.

Starting in August, TAFP members can access the 2008 Cost Survey Report, which is based on 2007 data, for a discounted rate of $185—a $165 savings. To take advantage of this discount, TAFP members can access the MGMA store through the organization’s website, www.mgma.com, and enter the code TAFP08, or call (877) 275-6462 to order. The “Cost Survey for Single-Specialty Practices: 2008 Report Based on 2007 Data” is item number 7047.

The report includes:

• Data on single-specialty practices, including primary care, non-surgical and surgical;
• Details on staffing and operating costs, broken out per physician, per provider, per patient, per square foot, as a percent of total medical revenue, per total Relative Value Unit and per work RVU; and
• Revenue performance data, including accounts-receivable, charges, payer mix and procedural volume.

According to MGMA, physicians and practice leaders can use the information to compare their practice or practice costs to others in their region or nationwide, answer financial management questions, develop models for strategic planning and analyze medical revenue to aide in staffing decisions. Survey results are compiled from members and non-members who then receive free access to reports.

Some members-only tools on the MGMA Web site include the Physician Compensation Calculator, and access to over 500 health and business related publications, e-mail forums, more than one million research articles, a member directory and a transcript service.

Members can also choose to join 22 specialty societies designed for group practice leaders. TAFP members might be especially interested in the Primary Care Assembly that serves as a forum for information exchange related to primary care.

Comprised of 21,500 members, MGMA is a national professional association that serves as a network and education tool for medical group practice professionals and the organizations they represent. For more information, go to the MGMA website, www.mgma.com, or contact Liz Johnson at press@mgma.com.