7 key challenges to practice profitability

A majority of physicians report declining reimbursements are the biggest challenge to physician practice profitability, according to The Third Annual Practice Profitability Index Report by CareCloud and QuantiaMD.

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•    Declining reimbursement — 62 percent
•    Rising costs (e.g. medical supplies, staff) — 55 percent
•    Transition to ICD-10 — 52 percent
•    Ongoing impact of the Affordable Care Act — 44 percent
•    EHR/meaningful use — 35 percent
•    Efficiency of staff — 26 percent
•    Patient privacy and information security requirements (e.g., recent HIPAA changes) — 16 percent

 

Note: The report includes responses from 5,024 physicians.

 

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