Industry professionals cited the selection and implementation of an EHR and recruitment of physicians as some of the most significant challenges of running a group practice, according to a research report published by the Englewood, Colo.-based Medical Group Management Association (MGMA).
Other challenges cited in the report, entitled “Medical practice today: What members have to say” include maintaining physician compensation in an environment of declining reimbursement, dealing with operating costs that are rising more rapidly than revenue, and managing finances with the uncertainty of Medicare reimbursement rates, says the organization.
The MGMA research also looked at how members view themselves in their profession and inquired as to whether they plan to stay in the field. Forty-seven percent of respondents said they see themselves working in their current practice five years from now, while 58 percent intend to stay in medical practice management and 25 percent believe they will be working in a hospital system or integrated delivery system.
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