MGMA Podcasts

In this episode of the MGMA Insights Podcast, host Daniel Williams speaks with Sharon Sagarra, MBA, FACMPE, owner of Sagarra Medical Consulting, and an MGMA Consultant. Sharon shares her extensive experience in healthcare management and provides actionable strategies for medical practice leaders to optimize compensation and benefits plans for their employees. Her insights are particularly relevant for those attending the upcoming MGMA Staffing Conference, where she will present on this very topic.

Practical Takeaways for Medical Practices 

1. Develop a Comprehensive Budget 

Maintaining a detailed budget is essential for managing financial challenges such as rising minimum wages and decreasing insurance reimbursements. "Make sure you're doing a budget. I was surprised the last two practices I was at did not have a budget," Sagarra emphasizes. A comprehensive budget helps practices monitor expenses, identify cost-saving opportunities, and allocate resources efficiently​

2. Streamline Operations and Utilize Group Purchasing 

Streamlining operations and leveraging group purchasing organizations can significantly reduce costs. Sagarra advises, "Look at supplies that could be streamlined with maybe one or two vendors or group purchasing organizations." This strategy helps negotiate better rates and simplifies inventory management, reducing both costs and administrative burdens​.

3. Automate to Improve Efficiency 

Implementing automation can help reduce payroll and overtime expenses while enhancing staff efficiency. Sagarra notes, "Automation of tasks can make things easier for your staff, reducing costs in payroll and overtime." Automating billing, appointment scheduling, and other administrative tasks frees up staff time for more impactful activities​.

Resources Mentioned 

Zoll Data Systems
This podcast is brought to you by ZOLL Data Systems software and data solutions for healthcare financial professionals. ZOLL A-R Boost is the comprehensive, automated R-C-M optimization solution suite that automatically finds, corrects, and verifies patient and payer information ​to capture more revenue, reduce administrative burden, and improve the patient financial experience. The #1 Black Book rated Insurance Discovery tool can discover active, billable coverage for more than 40% of claims. Visit www.ZOLLData.com/A-R Boost to learn about the complete solution suite.

MGMA Analytics
In the ever-changing world of healthcare, it's important to leverage data to make informed decisions and quick adjustments to your business, especially regarding your revenue cycle strategy and operations. MGMA Analytics is an advanced cloud-based analytics tool that delivers immediate access to real-time business insights derived from your internal financial, operational and telehealth data, which you can use to keep your practice running at optimal performance. Visit https://www.mgma.com/analytics to learn more.