ValuSource Software, a provider of medical practice benchmarking software, and Medical Group Management Association (MGMA) have released two, free web-based dashboards to allow physicians and group practices to enter variables about physician compensation and production and costs and compare themselves to U.S. standards.
“Too often smaller practices have put off performance benchmarking because they perceive it as too complex or too expensive. Today’s web dashboards change that. Now any practice can quickly, easily and visually see how their physicians and the practice are performing,” said David Fein, ValuSource’s CEO.
To gauge physician compensation and production, practice managers select their specialty from a pull-down menu, enter information about compensation, collections, gross charges, ambulatory encounters, surgery/anesthesia cases and work RVUs, according to ValuSource and MGMA. The dashboards compare that data to national norms and produce a series of six gauges that measure physician performance in specific areas (using a simple red-yellow-green visual score).
The dashboards can be accessed at www.mgmadashboards.com.