|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
"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.