Cardiology physician group practices are battling rising costs, according to a Medical Group Management Association (MGMA) report.
The median total medical revenue flattened in cardiology practices from 2005 to 2006, the survey report shows. The $8,126 decline in total medical revenue per full-time-equivalent (FTE) physician represented a 72 percent change.
The change also represented a divergence from the previous two years, which averaged a 4.7 percent annual increase, according to the report.
The survey also indicated that while revenues declined in cardiology groups, operating costs increased 3 percent – from a median of $522,303 per FTE physician in 2005 to $538,135 in 2006.
The combination of decreased revenue and increased cost reflect an increase in practice overhead, with median total operating cost as a percentage of revenue increasing 12.2 percent since 2000, the survey concluded.
MGMA said its 21,000 members manage almost 270,000 physicians practice.