Study: Cardiology costs rising faster
New data from the Medical Group Management Association suggests that some key specialties--particularly cardiology--are continuing to face financial pressures.
One new study of cardiovascular/thoracic surgery and cardiology practices found that median total medical revenue flattened in cardiology practices dropped $8,216, a drop of just under 1 percent. This is a striking change from previous years, which averaged 4.7 percent annual increases. This came, in part, because operating costs have increased 3 percent, from $522,303 per FTE physicians in 2005 to $538,135 in 2006. Orthopedic practices, meanwhile, saw costs and revenues per FTE physician stay flat from previous years, with costs per FTE increasing at 2.4 percent during 2005 and 2006 and revenue climbing $1.12 million to $1.14 million.
Anesthesiology practices, meanwhile, actually did better in 2006 than previous years. Practices saw operating costs drop sharply, about 10 percent, while revenue climbed 5.1 percent from 2005 to 2006 after two years of decline.
To get more data from the study:
- read this MGMA press release
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