By Bradley Coffey, MA on Sep 30, 2019 7:35:41 PM
Indianapolis, IN - The AAOE Benchmarking Results for Data Year 2018 were released on Friday, September 27, 2019 with 156 total practices participating in this year's version of the survey. Practices from 44 states submitted data for the 2018 data year.
For the 2018 data year, several new questions were added to the survey including sections on call data, physician retirement, and value-based payments. The survey results are inclusive of 2,280 musculoskeletal physicians and surgeons and 1,340 physician extenders.
AAOE has been collecting benchmarking data for 20 years but this is the first year the association has been able to present five full years of trend data in the annual results release. "It's exciting to look at the results and see how the data has changed over five years," said AAOE Senior Director of Data Solutions and Operations Vicki Sprague, PhD. "It helps paint the picture that healthcare is a constantly evolving field and that what was true last year isn't necessarily true this year."
In addition to five years of trend data, the AAOE Benchmarking Committee incorporated seven new "Essential Reports" to give practice executives a quick glimpse at the financial health of their practices. These reports can be helpful not only as a measuring stick of a practice's financial health but also at illuminating larger trends with the healthcare ecosystem. For example, the Cost per Patient report (to the right) shows a steady decline in the cost to treat patients since 2014 only to increase in 2018, possibly as a result of increased costs associated with two-sided risk models.
Additional Essential Reports include Accounts Receivable per FTE Physician, Adjusted Chages per Day, Collection Ratio, Individual Category Expense Ratio, Overhead Ratio, and Revenue per Patient.
The 2018 data year results include improved access to help tools on the report pages themselves including links to our new Knowledge Base to answer some of the most commonly asked questions about the reports and the portal functionality.