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Flashcards in Medical Group Management Deck (14)
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1
Q

MGMA

A

Medical Group Management Association

2
Q

ACMPE

A

American College of Medical Practice Executives

3
Q

AMGA

A

The American Medical Group Association

4
Q

HOG

A

Hospital Owned Group

5
Q

DOG

A

Doctor Owned Group

6
Q

RVU

A

Relative Value Unit

7
Q

Medical Group Management Definition

A

Medical group practice is the provision of health care services by a group of at least three licensed physicians engaged in a formally organized and legally recognized entity: sharing equipment, facilities, common records, and personnel involved in both patient care and business management.

8
Q

Medical Group Management Association

A

The premier membership association for professional administrators and leaders of medical group practices.

9
Q

Challenges of Working With/For Physicians

A
  1. Money is usually one of the most important things to physicians, so first and foremost, learn how to control the revenue cycle
  2. Make sure that scheduling is maximized
10
Q

Creating a better relationship with Physicians

A

Walk the halls and communicate with doctors

11
Q

MGM Laws and Certification

A
  1. By law, you must be licensed by the state.
  2. Certification isn’t mandatory but if you want any sort of reimbursement from CMS, then it is a must.
  3. Accreditation can also be acquired by the Joint Commission.
12
Q

Can MGM get certified?

A

Yes, by American College of Medical Practice Executives. They have an exam that you can take

13
Q

Entrepreneurship in MGM

A

Networking and education are the base. There is a lot that you have control over as a manager as you are typically over all of the business aspects rather than just like one or two.

14
Q

What is the Medicare Sustainable Growth Rate Formula

A

The sustainable growth rate is a measure of how much a firm can grow without borrowing more money. After the firm has passed this rate, it must borrow funds from another source to facilitate growth.