Practices are acting now to ensure future growth and meet the requirements of today’s patients. A recent Medical Group Management Associate (MGMA) poll found that 90% of medical practices reported that their costs have risen faster than revenues, while only 10% said their revenues are keeping pace or are ahead of rising costs. Facing economic uncertainty, the healthcare environment is also preparing for, “rising inflation, diminishing reimbursements, and increased supply and labor expenses.” Combined with rising costs, these external challenges are set to have significant impacts on budgetary strategies across the healthcare industry.

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