Mgma Small Talk

In this episode of the Ask MGMA Podcast, Cristy Good joins Daniel Williams to discuss physician compensation methodology and the impact of CMS conversion factor adjustments. They explore challenges medical practices face due to lower reimbursement rates and how practices can address these challenges. Resources for monitoring policy changes and planning compensation are also shared.Key Points:- CMS conversion factor adjustments impact physician reimbursement rates- Lower reimbursement can decrease revenue and physician satisfaction  - Practices should update fee schedules, explore value-based models, and diversify revenue- MGMA's variance calculator analyzes impact of CPT code reimbursement changes- Include physicians in compensation discussions and planningResources:- wRVU variance calculator- MGMA DataDive Provider Compensation  - Physician Employment Contract Toolkit  - Provider Compensation Data Report 2023  - Navigating the physician compensation impacts from E/M office visit and 2021 Medicare PFS changes