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.
Last month, we learned that nearly 40% of medical group owners have seen an increase in their no-show rates. Meanwhile, the CDC reports that the number of uninsured Americans is growing. When it comes to burnout among nursing professionals, the most often cited contributor to work-related stress was staffing challenges. This may be why virtual nursing programs are trending and 20% of medical group owners are planning to add more remote and hybrid roles this year. The American Medical Association (AMA) shared findings from its physician survey and Physicians Practice offered tips on avoiding common medical billing errors.
Here’s a quick recap of everything we learned:
- A Medical Group Management Association (MGMA) survey revealed 37% of medical group owners reported an increase in no-show rates this year, despite sending automated appointment reminders and implementing various tactics geared at reducing the practice’s number of no-shows.
- Based on a survey of more than 75,000 nurses, KLAS Research found that staffing challenges, chaotic work environments and too many bureaucratic tasks were the most often cited contributors to burnout among nursing professionals, according to Healthcare Dive.
- After hitting a historic low of 7.2% last spring due to COVID-19 era policies that eased access to coverage, the CDC reports that the rate of uninsured Americans climbed to 8.2% in the first quarter of this year. “The rate started ticking up in the back half of last year as states began removing ineligible beneficiaries from safety-net Medicaid coverage,” writes Healthcare Dive senior reporter Rebecca Pifer.
- Another MGMA survey found that more than 20% of medical group owners say they will be adding more remote or hybrid roles this year—a hiring tactic that enables practices to cast a wider net for talent.
- Physicians Practice offered a slide deck covering five common medical billing mistakes, along with strategies to avoid expensive errors that often lead to bottlenecks across your practice.
- Medical Economics provided great insights on the benefits of hiring virtual nursing professionals, outlining critical factors practice owners should consider before implementing a virtual nursing program.
- Healthcare Dive covered a report from the market research firm PitchBook that showed private equity-backed healthcare deals have continued on a downward trend, dropping 16.5% in the second quarter of this year. But, according to Healthcare Dive, the market may be poised for a turnaround: “Bankers have noted their acquisition pipelines are filling up, and sellers’ price expectations are beginning to decrease — signaling that a gradual increase in dealmaking could be coming.”
- According to a physician survey conducted by the AMA, nearly 90% of survey respondents reported that prior authorizations lead to higher overall utilization of health care resources, resulting in worse patient care while simultaneously increasing costs for patients, employers, physicians, hospitals and health systems.
- The U.S. Department of Health and Human Services (HHS) released a new ruling on website content and mobile app accessibility for individuals with disabilities. Medical Economics provided a thorough overview of the latest legislation, along with specific steps private practices can take to avoid potential digital accessibility lawsuits.
- MGMA found that 57% of medical group owners have no formal succession plan in place for leadership roles: “Many respondents noted they only plan for president and/or chief executive officer roles,” writes MGMA. “Several other medical group leaders noted they only have succession planning for physician leadership and no plans for other executives.”
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 patients.
