Ask MGMA: Understanding Physician Compensation and CMS Policy Changes
Download MP3In this episode of the Ask MGMA Podcast, Cristy Good joins Daniel Williams to discuss physician compensation methodology and the impact of CMS conversion factor adjustments. They explore challenges medical practices face due to lower reimbursement rates and how practices can address these challenges. Resources for monitoring policy changes and planning compensation are also shared.
Key Points:
- CMS conversion factor adjustments impact physician reimbursement rates
- Lower reimbursement can decrease revenue and physician satisfaction
- Practices should update fee schedules, explore value-based models, and diversify revenue
- MGMA's variance calculator analyzes impact of CPT code reimbursement changes
- Include physicians in compensation discussions and planning
- Physician Fee Schedule
Music:
"Street Walk" by Paolo Pavan courtesy of Free Music Archive, CC BY-NC-SA"
Music:
"Street Walk" by Paolo Pavan courtesy of Free Music Archive, CC BY-NC-SA"
Sponsors:
iCoreConnect
The February cyber attack on change healthcare continues to cause prescription delays and that is stressful on patients and doctors, but not if the doctors are using iCoreRx, a leading ePrescribing software that enables electronic prescription creation and management to simplify your medical operations. Check them out at icoreconnect.com/mgma.
Physician Business Training
This course is for early-career physicians or physicians who need a comprehensive understanding of the business of medical practices. The course is 7 hours long and broken into 9 modules. It was developed by Medical Group Management Association (MGMA) and leaders from Johns Hopkins University School of Medicine. This course awards 7 hours of CME credit.
iCoreConnect
The February cyber attack on change healthcare continues to cause prescription delays and that is stressful on patients and doctors, but not if the doctors are using iCoreRx, a leading ePrescribing software that enables electronic prescription creation and management to simplify your medical operations. Check them out at icoreconnect.com/mgma.
Physician Business Training
This course is for early-career physicians or physicians who need a comprehensive understanding of the business of medical practices. The course is 7 hours long and broken into 9 modules. It was developed by Medical Group Management Association (MGMA) and leaders from Johns Hopkins University School of Medicine. This course awards 7 hours of CME credit.
WE WANT TO HEAR FROM YOU
Let us know if there's a topic you want us to cover or an expert you would like us to interview. Email us at dwilliams@mgma.com. If you have a question for our Sr Advisor Cristy Good, email advisor@mgma.com.
Podcast Sponsor CareCredit
Are you considering financing solutions to help your patients pay for their healthcare cost? But aren't sure where to start. Synchrony is here to help with the CareCredit credit card. For over 35 years, CareCredit has been connecting patients with financing solutions to pay for the care they want or need in a way that helps fit their budget.
When patients use CareCredit, providers get paid within two business days to learn more about how synchronize CareCredit card. To learn more about how Synchrony CareCredit Card can support you and your patients, visit carecredit.com/mgmapodcast.
Podcast Sponsor MGMA Analytics
Are you making decisions based on gut instinct—or on real data?
With MGMA Analytics, you get the benchmarking and business intelligence tools to drive smarter strategies.
From provider compensation to operational costs, MGMA Analytics gives you access to the most trusted data in the industry.
So whether you’re adjusting staffing, setting salaries, or planning for growth, make your next move with confidence.
Visit MGMA Analytics to learn more.
Are you considering financing solutions to help your patients pay for their healthcare cost? But aren't sure where to start. Synchrony is here to help with the CareCredit credit card. For over 35 years, CareCredit has been connecting patients with financing solutions to pay for the care they want or need in a way that helps fit their budget.
When patients use CareCredit, providers get paid within two business days to learn more about how synchronize CareCredit card. To learn more about how Synchrony CareCredit Card can support you and your patients, visit carecredit.com/mgmapodcast.
Podcast Sponsor MGMA Analytics
Are you making decisions based on gut instinct—or on real data?
With MGMA Analytics, you get the benchmarking and business intelligence tools to drive smarter strategies.
From provider compensation to operational costs, MGMA Analytics gives you access to the most trusted data in the industry.
So whether you’re adjusting staffing, setting salaries, or planning for growth, make your next move with confidence.
Visit MGMA Analytics to learn more.
