Vital Signs is a monthly newsletter from AdvancedMD highlighting the healthcare industry’s top trends and insights. It’s our way of helping you stay informed.
In our final installation of Vital Signs this year, we’re sharing insights on everything from healthcare provider salary info and the impact of group purchasing organizations (GPOs) to revenue cycle management strategies, practice-payer relationships, and personal development goals.
Here’s a quick recap of everything we learned:
- A Medical Group Management Association (MGMA) survey revealed 85% of medical group owners report they are budgeting the same or more than usual for cost-of-living and merit-based pay increases in 2025.
- After analyzing more than 2.5 million preventative care claims, researchers from the University of Massachusetts Amherst and the University of Toronto discovered minority groups and patients from lower-income households were “significantly” more likely to have healthcare claims denied.
- Another survey conducted by MGMA revealed that finding qualified candidates remains a top staffing challenge for medical group owners. According to the report, “For practices struggling with finding candidates, 59% of practice leaders said this challenge worsened.”
- Nearly 75% of medical group owners use a group purchasing organization (GPO) to secure better pricing and terms on medical supplies, equipment, and services. According to MGMA, “Leveraging the benefits of a GPO can transform medical practices by providing strategic solutions to combat rising expenses. This enables them to maintain high-quality patient care while achieving greater operational efficiency and sustainability.”
- A recent survey conducted by the healthcare consultant firm SullivanCotter revealed physician salaries have increased more than 16% during the past four years. “After significant increases in 2023, TCC [total cash compensation] has returned to historical average growth of 3.5%,” writes Medical Economics editor Richard Payerchin.
- MGMA revealed more than a third of medical group owners plan to outsource or automate at least part of their revenue cycle management strategy next year, while 14% of the survey participants said they are unsure.
- According to a recent Intelligence Report published by PYMNTS, 90% of the healthcare executives surveyed for the report said that they have achieved positive returns on their GenAI investments.
- Telehealth flexibilities that were schedule to expire at the end of 2024 will be extended through 2025, according to Healthcare Dive. The extension will ensure patients have access to medications prescribed virtually.
- A Medical Economics report revealed that 70% of U.S. patients want their primary care providers to ask about mental health issues in addition to their physical health during healthcare appointments.
- When asked what percentage of patients use self-scheduling tools, three-fourths of medical groups owners surveyed by MGMA reported less than 25% of their patients take advantage of digital tools to schedule visits.
- A Physicians Practice Payer Scorecard shows there is much room for improvement when it comes to practice-payer relationships. When asked to rate their largest payer’s customer service capabilities—things like response times, willingness to negotiate rates and on-hold times—practices gave payer organizations a lackluster score of 1.84 out of 5 stars.
- Two visionary nursing leaders are taking action to ensure nurses have a role in the development and governance of AI healthcare solutions: “The truth is we’re solving for physicians with AI at a much greater rate than we are solving for nursing.”
- One in three medical group owners surveyed by MGMA say time management is at the top of their list of personal development goals. Twenty-three percent said communication and another 23% said becoming a coach or mentor. Just over 15% of survey participants listed team-building as their top personal development goal.
- According to Healthcare Dive, doctors will see their Medicare reimbursement rates drop 2.9% next year: “Physician practices tend to operate on smaller margins, so rising costs make it more difficult to keep a practice going, according to experts.”
Vital Signs is brought to you by AdvancedMD. It’s our way of helping you stay informed on the trends and insights that shape our industry. Each month, we publish a roundup of healthcare headlines so that you are in-the-know when it comes to the topics that matter most to you, your staff, and your patients.