Medical Practice Costs Creep Higher
"I feel like practices in this era of uncertainty are very cautious. And as a result, they're doing everything they can to control that cost curve growth and they're taking every opportunity, such as [cutting costs for] medical surgical supplies, where they may have had a large inventory of said items; now, they're keeping a just-in-time inventory of those items," said Evenson.
Going back to 2007, Evenson says per FTE physician, doctors were spending $10,853 on surgical supplies, and now that cost is up to more than $13,000 in 2011.
"Concerns over the sustainable growth rate (SGR) and diminished reimbursement are causing uncertainty within the market space and limiting potential investments," he added.
Other cost drivers to managing medical group practices include:
- Business support staff
- Clinical staff
- Information technology (IT)
- Building and occupancy rates
- Drug supply costs
- Two-Midnight Rule Must be Fixed or Replaced, Say Providers
- CDC Warns of Antibiotic Overuse in Hospitals
- AHRQ: Surgical Admissions Bring 48% of Hospital Revenue
- Care Coordination Tough to Define, Measure
- HIMSS: Software Bugs, Shifting Alliances Unsettling for CIOs
- Hospitals Adapting Amid Continued Drug Shortages
- Evidence-Based Practice and Nursing Research: Avoiding Confusion
- Steep Drop Seen in Medically Unnecessary C-Sections
- SCOTUS Review of NC Board Case 'A Very Big Deal' to Providers
- As Allegations Swirl, Baylor Plano Rejects Baldrige Award