Mgma Small Talk

Welcome to the MGMA Week in Review podcast. Hosted by Daniel Williams, Senior Editor at MGMA, and Colleen Luckett, Editor and Writer at MGMA. This episode covers the latest healthcare news and trends, including strategies for managing rising operating costs, solutions for staffing challenges, and innovative ideas for repurposing closed rural hospitals. Key Takeaways:Rising Operating Expenses (03:21 - 05:20)Stat Poll Results: 92% of medical group leaders report increased operating expenses in 2024, up from 89% in 2023.Cost Drivers: Major expense drivers include rising salaries (cited by 60% of respondents), medical supplies, and utilities.Financial Strategies: Practice leaders are combining offices, renegotiating contracts, and switching vendors to manage costs.Staffing Challenges and Solutions (05:21 - 08:50)Compensation Trends: Administrative staff saw a median total compensation increase of 4.7%, while nursing staff saw a 3.2% increase.Regional Variations: Western Region salaries are higher, with administra