What You Should Know:
– Improving financial processes and strategic staffing are top priorities for independent medical practices this year, according to a new survey released by AdvancedMD, a provider of cloud-based healthcare software.
– The survey of private practice owners and staff identified improving patient payments, enhancing payor reimbursement, and automating claims preparation as key high-priority issues.
Financial Viability Takes Center Stage
The survey results underscore a strong focus on the financial health of private practices. Key findings revealed significant attention being paid to both incoming revenue streams:
- Patient Payments: 19% of respondents reported currently offering multiple patient payment capabilities like credit card on file (CCOF), digital wallet options, and payment plans. Importantly, another 39% indicated plans to add these modern payment options within the year.
- Payor Reimbursement: 44% of practices surveyed are looking to renegotiate reimbursement rates with one or more payors in 2025.
“Our surveys offer great insights into the challenges private practices are up against, as well as the opportunities they hope to capitalize on,” said Amanda Sharp, CEO, AdvancedMD. “The fact that so many survey respondents are looking to improve patient payment options, while also wanting to renegotiate payor reimbursement processes, makes clear that the financial health of the practice is a major focus this year.”
Staffing Growth and Enhanced Benefits Planned
Growth appears to be on the horizon for many independent practices, with 67% of respondents planning to hire new staff. The breakdown includes 29% planning to add at least one new physician, 20% adding administrative staff, and 18% increasing nursing staff.
Recognizing the competitive hiring landscape, practices are also focusing on employee benefits. The survey found that 44% of respondents plan to add wellness benefits and mental health resources for employees or already have them in place. Sharp noted this is “a key differentiator for practices competing to recruit top healthcare talent and especially critical for the 67% of practices that said they plan to add new staff.” This finding contrasts somewhat with a previous MGMA survey indicating many medical groups had stagnant or diminished benefits in recent years.
Desire for More Patient Time, Less EHR Burden
When asked about how they hope to allocate their time, clinicians and staff overwhelmingly prioritized spending more time meeting with patients and providing care (nearly 70%). Continued education related to healthcare services was also a desired area for increased focus. Conversely, the most popular response for activities to spend less time on was administrative tasks within the EHR – a task frequently linked to clinician and staff burnout. Respondents also hope to spend less time answering emails and managing claims and payor relationships.
Expanding Service Offerings
Beyond finances and staffing, practices are also looking to broaden their patient services. The AdvancedMD survey found that 22% of respondents plan to add new ancillary services this year, while 13% specifically indicated plans to incorporate behavioral health services into their practice.
Survey Methodology
AdvancedMD gathered insights for this report through a survey distributed via its customer portal and an online form during the first quarter of 2025. The survey was completed by 118 respondents representing various roles within private practices.
