Contact: Fred Haag, 703-838-0033, [email protected]
ALEXANDRIA, VA--The American Medical Group Association released its 2001 Medical Group Financial Operations Survey, which contains revenue and cost data from its member groups. Among the more interesting findings are that financial performance varied significantly by region and that percent of capitated revenue appears to have an influence on financial performance.
When examining the median profit and loss per physician for medical groups according to region, Northern and Western groups reported large declines in financial performance, while the groups reporting from the Southern region improved from a median loss of $3,823 in 1999 to a net $0 in 2000. As in last year's survey, a positive relationship exists between percent of capitation and financial performance. The Western region has some of the highest percentages of capitated revenue, while the Southern and Northern regions have some of the lowest percentages. The financial performance in the Western region declined, yet remained profitable at a $3,500 profit per physician.
The purpose of the report is to assist medical group management teams in operating their practices by providing pertinent and timely cost information from a variety of medical groups throughout the U.S. The 2001 survey, conducted by RSM McGladrey, Inc.'s National Health Care Consulting Group, generated responses from 181 medical groups, representing approximately 21,500 physicians. The report presents data on support staff salaries and benefits, physician salaries, staffing profiles, and other key management issues. Data is summarized by capitation level, geographic region, and specialty grouping. The capitation level summary is on a per physician basis with the geographic region summary being reported on both a per physician and a per square foot basis. The specialty grouping and specialty detail pages present a financial profile on a per physician and per work RVU basis.
The AMGA strives to publish a report that meets the needs of medical groups emphasizing cost management and looking to benchmark cost data from comparable medical groups. The 2001 Medical Group Financial Operations Survey was created through a partnership between RSM McGladrey, Inc. and the AMGA, which also produced AMGA's 2001 Medical Group Compensation & Productivity Survey.
The American Medical Group Association represents medical groups, including some of the nation's largest, most prestigious integrated health care delivery systems. AMGA's mission is to shape the health care environment by advancing high quality, cost-effective, patient-centered, and physician-directed health care. The members of AMGA deliver health care to more than 50 million patients in 39 states, including 15 million capitated lives. The average AMGA member group has 186 physicians and 12 satellite locations. Headquartered in Alexandria, Virginia, AMGA is the strategic partner for medical groups providing a comprehensive package of benefits, including political advocacy, educational and networking programs and publications, benchmarking data services, and financial and operations assistance.
For more information, please call Thomas Flatt at (703) 838-0033, ext. 328. A limited number of copies of the survey are available for working press. Surveys are also available for purchase for $175 to AMGA members and $250 to nonmembers.
RSS