The median revenue per physician hit $719,901, which is up even 9.1% from pre-pandemic levels, while the median expense per physician soared 14.7%, hitting $1.03 million for the year.
System-affiliated medical groups reported an annual loss of $249,000 on average, according to the survey of more than 15,000 providers. Labor costs and changes to the CMS fee schedule in addition to other policy updates have driven financial trends for the last 12 months.
Medical group leaders are looking for more sophisticated tools and benchmarks to improve the revenue cycle and assessing payer mix, according to the report.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.