Cardiology and cardiovascular/thoracic surgery... -
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Published on: 3/17/2004
Last Visited: 2/8/2006
,As expected, many of these groups are reporting deteriorating or declining margins,, said Frederic Simmons Jr., CPA, CEO, Clearwater (Fla.) Cardiovascular and Interventional Consultants, and chair of the MGMA Survey Advisory Committee. ,Medical group practice administrators are searching for ways to counteract increases in costs and declining reimbursement.,
More effective A/RAccording to the report, cardiology groups experienced a median decrease of 5.98 days in accounts receivable (A/R) to 47.10 days, suggesting that medical group practices are collecting more of the money owed to them.
,Decreases in A/R days are primarily due to billing effectiveness driven by better professionally managed medical groups and increases in technology , especially electronic medical records and billing systems,, said Simmons.