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Home / News & IndustryManaged Care Insight and Analysis
Updated: Nov. 25, 2008
ValuSource And MGMA Launch Free Benchmarking Dashboards For Medical Practices

ValuSource Software, a producer of medical practice benchmarking software, and the Medical Group Management Association (MGMA) released two Web-based dashboards that enable physicians and group practices to enter a few easy-to-find variables about physician compensation and production and costs and compare themselves to national norms.

"With reimbursement down and practice costs rising, it’s critical for practices of all sizes to measure practice performance in order to enhance it," said David Fein, ValuSource CEO. "Too often smaller practices have put off performance benchmarking because they perceive it as too complex or too expensive. Now any practice can quickly, easily and visually see how their physicians and the practice are performing."

To gauge physician compensation and production, practice managers select their specialty from a pull-down menu, enter information about compensation, collections, gross charges, ambulatory encounters, surgery/anesthesia cases and work RVUs. The dashboards compare that data to national norms and produce a series of six gauges that measure physician performance in specific areas (using a simple red-yellow-green visual score).

Similarly, to calculate how their practice costs compare to that of other practices nationwide, practice managers simply enter a few variables detailing accounts receivable, medical revenue, support staff and operating costs per physician.

"Smaller and mid-sized medical groups will benefit from an efficient and user-friendly way to gauge their physician and practice performance so they can focus their energy towards acting on what they’ve learned," said Mick Kasher, MGMA director of survey operations. "Our members already rely on MGMA’s benchmarking data and the ValuSource platform enables them to use the data even more quickly and easily."

Addresses: Medical Group Management Association, 104 Inverness Terrace East, Englewood, CO 80112; (303) 799-1111, www.mgma.com. ValueSource Software, 4575 Calley Road, Suite 200E, Colorado Springs, CO 80915; (800) 825-8763, www.valusourceswoftware.com.


  This article was taken from:
The Executive Report on Physician Organizations

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