The medical and surgical supply costs faced by practices per full time physician employee has increased by 82% in a 10-year span, according to a report released in May by the Medical Group Management Association.
In partnership with market research company DataDive, the organization analyzed the costs and revenues reported by physician-owned multispecialty practices from 2021 to 2022 to find the changes in expenses associated with full-time physicians at their respective practices.
Here is a breakdown of the median change in various practice expenses per full-time physician from 2013 to 2022:
|
Expense type |
Percent change (2013-2022) |
|
Median IT operating cost |
54% |
|
Median drug cost |
106% |
|
Median medical and surgical supply cost |
82% |
|
Median building and occupancy cost |
27% |
|
Median furniture and equipment cost |
42% |
|
Median administrative supplies and services cost |
33% |