Administrative burdens from paperwork required by insurance companies are a major challenge for physician practice management. This takes time away from patient care and can negatively impact patient-physician relationships. Maintaining high patient satisfaction is also a challenge, as physicians want patients to have minimal wait times and a quality experience. Additionally, physicians must focus on negotiating the best contracts with healthcare payers to improve revenue and create a valuable service proposition based on factors like specialty, location, and available services. Medicare audits further add to the challenges, enforcing quality care and accurate reimbursement while charging penalties for errors or fraud.

1. TOP CHALLENGES IN PRACTICE
MANAGEMENT

2. Introduction
 As a healthcare provider, it is difficult to
manage a successful medical practice without
practice management challenges. Physicians
face some practice challenges. Let us discuss
briefly.

3. Administrative burdens
 Administrative burdens are the most common
challenges in physician practice management.
Insurance companies require paperwork
(documentation) for claim submission. For that,
Physician spends more time on paperwork, not
on primary care. It affects the patient-physician
relationship and also unnecessarily disrupts the
delivery of care. By using the EHR for
documentation, it saves the physician a great
deal of time and keeps the practice set-up
organized.

4. Patient Satisfaction
 Physicians want patient satisfaction that
determines the practice growth and
sustainability based on the quality of service
rendered. If they are in health problems, they
don’t want to spend more time in the waiting
room. In such a case, less waiting time would
be appreciated. By the way, it is important
that every practice keeps the patient
satisfaction score high.

5. Payer Contracts
 Physicians should focus on the best
contracts/plans by payers. It helps them to
improve revenue from other services. It also
enhances and creates a value proposition
based on the following criteria. Such as,
 Patient volume
 Location
 Specialty
 And local availability of services

6. Payers dictating healthcare
 Medicare (National Health Insurance
Program in the US) audits the doctors to
ensure the following things.
 They are doing everything correctly.
 Getting proper reimbursement for their
service.
 High penalties are charged for errors and
fraudulent activities including not providing
quality care.

7. About MGSI
 MGSI is the leading Revenue Cycle Management
company in Florida, US. Our company is an A+
rated medical billing company with the Better
Business Bureau.
 It is HIPAA compliant, ensuring high levels of
security to patient information.
 We have experienced medical billing professionals.
 We provide medical billing and coding
services, physician practice
management services,AR follows up, healthcare
contract management, insurance eligibility
verification, and denial management services, etc.

8. Contact US
For any enquires,
Call us: 877-896-6474
Visit us: www.mgsionline.com to become
partner with us!