For a physician’s office, assessing staffing needs is a difficult task. Follow these three guidelines to better help you make staffing decisions in your practice.
Consult industry benchmarks
Industry benchmarks are widely available. Consulting periodic benchmarking allows you to keep an eye on industry trends and better track your practice’s needs accordingly.
So where do you find these industry benchmarks? Medical Group Management Association (MGMA), the American Medical Association, the American Medical Group Association, and Practice Support Resources (PSR) all offer resources that allow you to continuously assess your needs.
Support staff per full-time physician
How many support staff you have per full-time physician (FTE physician) is an important ratio to pay attention to when deciding how many staff you should have. When comparing this ratio to industry standards, it’s important to factor in your field of practice, your location, and any other unique circumstances that set your practice apart. How efficient are the physicians in your practice? How many patients do you see a day? How many procedures do you do a day? What additional services does your office offer? Answers to these questions will better help you adjust support staff to FTE physician ratio to fit your personal needs.
How many full-time midlevel providers work in your office? The number of nurse practitioners may change the staffing needs of the office. Typically, if you have fewer midlevel providers, your overall staffing needs should be lower. If you have a high number of midlevel providers, your staffing needs should be higher.
Percentage of gross revenue spent on salaries
How much of your annual revenue do you spend on salaries? Staffing expenses are important to keep track of so you do not overextend resources. Calculate staffing expenditures by dividing amount you pay in salaries by annual gross revenue. It is important to factor in part-time employees and employee benefits.
The information contained on this page is for general informational purposes only. It is not legal advice and should not be relied upon in making borrowing decisions. Fundation loans are subject to lender approval.
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