AdvancedMD

A new physician survey from Medical Economics found that 39% of respondents said the financial state of their practice was worse in 2023 than the previous year. Among the physicians who reported their medical practice finances had worsened, seven in ten cited higher overhead and staffing costs. Other factors that led to decreased financial stability included: ▶️ Lower reimbursement rates ▶️ More time spent on "uncompensated" tasks ▶️ Difficulty collecting patient payments The good news is that nearly half (48%) reported their finances had stayed about the same and 13% said the financial state of their practice had improved. When asked what tactics had positively impacted their practice's finances, respondents listed the following: ✅ Seeing more patients ✅ Adding more ancillary services ✅ Increased revenue from telehealth capabilities ✅ Renegotiated payor contracts Be sure to read the full report at: https://lnkd.in/gTrDiANX #PhysicianSurvey #PrivatePractice #RevenueCycleManagement #HealthcareTrends

Happy Labor Day from AdvancedMD!

A huge congrats to the AdvancedMD volleyball team who came in second at this summer's Salt Lake County Corporate Games! The competition was fierce, but our team was ready to play—we got the second place win along with some really great action shots. Thank you to the Salt Lake County Corporate Games crew for another fun day in the sun 🌞🏆🏐

Patient no-shows continue to be a challenge for private practices according to the latest poll from MGMA. Survey findings revealed that 37% of medical group owners have seen an increase in no-show rates this year. Among the the survey respondents who reported a decrease in no-show rates, many said that they had, "Moved from an existing patient communication/automated reminder system to a new one, including new text messaging platforms." Other practice management tactics that helped reduce no-shows included: ✅Implementing a system that: "Integrated all check-in work along with point-of-service copays, or included a method for filling vacant appointment slots as they occur" ✅Leveraging advanced analytics to forecast no-show trends and double-booking around patients who were identified as "high-risk" for a no-show ✅Charging no-show fees as part of the practice's credit card on file (CCoF) policy "While these are all smart strategies, the biggest remaining question from this week’s poll remains," writes MGMA managing editor Chris Harrop. "Many of the practices whose no-show rates increased are also using many of these same strategies without seeing improvement yet." You can read the full survey findings, along with more tips on how to reduce your practice's no show rates at: https://lnkd.in/gRctTfZV #PracticeManagement #NoShowRates #PrivatePractice

We have more updates from the Salt Lake County Corporate Games📣🏆 Congrats to AdvancedMD team members Laura Stufflebeam, Ryan Floyd and Brooke Showers who proved to be formidable dissectologists at the recent Mystery Game event!! The three showed up with out any idea what the competition would involve, but ended up taking home FIRST PLACE after putting together a jigsaw puzzle in record time. It just so happens that AdvancedMD loves puzzles and this "mystery" competition brought out the best in us💛🧩 A huge congrats to Laura, Ryan and Brooke—and thank you to the Salt Lake County Corporate Games crew for putting together so many fun events!!

After surveying more than 75,000 nurses, KLAS Research revealed that the top three most often cited contributors to burnout among nursing professionals were ... 🚩Staffing 🚩Chaotic Work Environments 🚩Too Many Bureaucratic Tasks "Some research has found a large chunk of nurses are considering changing jobs or leaving the profession entirely due to burnout — a major problem for health systems who are still recovering from the workforce shortages and heightened labor costs they faced during the COVID-19 pandemic," writes Healthcare Dive reporter Emily Olsen. You can read Olsen's full report on the survey findings at: https://lnkd.in/dcF_Dt9M #NursingChallenges #Burnout #SupportNurses

We heard it was #NationalDogDay, but, at AdvancedMD, every day is a good day to celebrate our most beloved furry friends. Here are just a few of the pups who are a big part of the AdvancedMD family 🐶🫶

According to a recent story from Healthcare Dive, the number of uninsured Americans rose to 8.2% during the first quarter of this year, after hitting a historic low last spring. "States stopped checking Medicaid beneficaries’ eligibility for the coverage during the coronavirus pandemic in return for more generous federal funding," writes Healthcare Dive senior reporter Rebecca Pifer. "That agreement expired in April, freeing up state Medicaid departments to resume eligibility checks." Pifer goes on to report that nearly 25 million people have lost their Medicaid coverage this year, per data from the health policy research firm KFF. "Roughly seven in ten of those people were removed from Medicaid not for actual ineligibility, but over administrative errors like missing paperwork, research has shown," writes Pifer. Be sure to read the full report at: https://lnkd.in/gu_Fiu7Y #HealthcareInsurance #Medicaid #HealthcareTrends

Two days ago, we showcased the lineup of super cool cars that AdvancedMD employees, friends, and families created to race in our 3rd Annual Pinewood Derby. Today we're featuring the winners and the cars that led them to victory!! Congrats to our 1st, 2nd and 3rd place winners, along with Tyler Pettit who took home the "Safest Driver" award. Also, a huge shout out to everyone who showed up to compete. It's events like this that make AdvancedMD so special 🫶💛

Medical group staff positions are not usually associated with remote or hybrid hires, but 23% of medical group owners surveyed by MGMA said they plan to add more remote or hybrid roles this year. According to MGMA, "Embracing remote and hybrid roles is also a means to cast a wider net for talent, addressing the competitive labor market and national shortages for certain roles that are extremely difficult to fill locally." Such roles may include: ✅ Revenue cycle management positions (coding, billing, insurance verification and authorizations) ✅ Surgery and patient schedulers or call center representatives ✅ Accounting and payroll staff ✅Recruiters ✅ Quality reporting and data entry specialists You can read more on MGMA's survey findings at: https://lnkd.in/gT3qGmVb #RemoteHealthcareRoles #HealthcareCareers #MGMA