The Medical Group Management Association said it posted higher-than-expected income and revenue in its fiscal 2006, earning net income of about $2.6 million on gross revenue of about $25.7 million. That compared with net income of about $2.3 million on gross revenue of about $24 million in fiscal 2005. Membership increased roughly 5% to about 20,000 individuals working at approximately 12,000 organizations, said William Jessee, the MGMA’s president and chief executive officer. At a news briefing at the MGMA’s annual meeting, Jessee also described a new Web-based patient-safety tool meant to help physician practices evaluate their performance in key areas, such as prescribing, personnel qualifications and patient education. The product is available at no cost at physiciansafetytool.org, but comparative data and benchmarking reports will cost $200, Jessee said.
MGMA reports ’06 profits, revenue
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