Last June, MGMA-ACMPE released the results of a questionnaire that ranked members' most pressing practice management challenges. In this edition of "Practice Makes Perfect," we'll tackle No. 4 on that list: Dealing with rising operating costs.
According to the MGMA Cost Survey report, costs for multispecialty, not-hospital owned medical practices increased 64% since 2001. This drastic increase has forced practices to carefully examine their businesses and evaluate ways to do more with less. To help curb the effects of cost increases, here are a few items to examine for potential savings to your practice.