Profitability index checks financial health of practices

Profitability index checks financial health of practices
An overall downward trend in profitability has been identified based on a practice profitability index, developed to assess the financial health of U.S. physician practices, according to a report published by CareCloud.

(HealthDay)—An overall downward trend in profitability has been identified based on a practice profitability index, developed to assess the financial health of U.S. physician practices, according to a report published by CareCloud.

In an effort to investigate the financial health of , researchers from CareCloud together with QuantiaMD gathered insights from 5,012 physicians with an interactive online survey and related discussion groups during April 2013. The respondents included and internists (77 percent) as well as smaller numbers of pediatricians, psychiatrists, cardiologists, obstetricians and gynecologists, and .

The researchers found that among U.S. physician practices there was an overall in profitability, with declining reimbursements leading physician concerns. Physicians reported that reform effects create the biggest operational burden, with administrative requirements often coming at the expense of patient care. However, many independent physicians want to stay independent and are not looking to be acquired by larger practices or hospitals. Operating changes are being targeted across the board to improve performance. Old practice management systems are likely to be problematic, with more than 40 percent of physicians unsure as to whether theirs can accommodate regulatory requirements and changes.

"The Practice Profitability Index was created to provide a voice to physician practices across the United States regarding issues that impact their financial and operational health," the authors write. "It reflects the belief that better for Americans are more likely to be achieved when practices themselves are thriving and efficient."

More information: More Information

Related Stories

More than two-thirds of surgeons are 'employed'

date Apr 20, 2013

(HealthDay)—There is a substantial shift in practice environment occurring among surgeons in the United States, with more surgeons becoming employees, according to a study published in the April issue of ...

Healthy doctors make healthy patients, study finds

date Apr 08, 2013

Patients are more likely to follow preventive health practices like getting a flu shot or mammography if their doctors do likewise, researchers at the University of British Columbia and in Israel have discovered.

Recommended for you

Text messaging useful for reaching 'at-risk' teens about sex

date 7 hours ago

Text messaging that connects teens with sexual health educators is effective for delivering sexual health information, according to a recent study in The Edward R. Murrow College of Communication at Washington State University.The ...

Optimum style for running a marathon?

date 14 hours ago

Most of the brave and hardy runners in Sunday's London Marathon will have put themselves through a lengthy training programme to build up strength and stamina as well as physical and mental fitness.

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.