Increase in Physician and App Productivity According to Latest Study
Virtua Medical Group, a leading healthcare provider, has made significant strides in enhancing productivity and efficiency over the past two years. According to Samuel Weiner, MD, the vice president and CMO of Virtua Medical Group, these improvements are due in part to the group's strategic use of technology and digital transformation.
One of the key areas of focus has been the integration of artificial intelligence (AI) into the group's electronic medical records. This move has not only made the system easier to use but has also expedited documentation and clinical decision-making. AI is now being used to answer questions sent to clinicians through the medical group's patient portal, and an ambient listening tool is being used to record interactions between clinicians and patients, generating a clinical note of the encounter.
These technological advancements have led to a notable increase in productivity for both physicians and Advanced Practice Providers (APPs). Since 2023, physician productivity, as measured by work relative value units (wRVUs), has increased by 12%, while APP productivity has seen a 17% boost. This productivity surge has been a significant factor in the group's overall success.
The group has also bucked the trend of lower medical support staff levels, increasing them by 11% over the past two years. This decision has been crucial for maintaining high-quality care delivery, as increased staff levels have enabled the group to perform more office procedures, particularly with the acquisition of a large musculoskeletal group.
Virtua Medical Group has also experienced a rise in procedures conducted in ambulatory surgical centers. However, there was a slight decrease in surgical and hospital-based revenue, likely due to an increase in outpatient care. Despite this shift, net patient revenue per provider overall has increased, indicating a positive trend in the group's financial performance.
To ensure they are paying market value for medical support staff positions, regular market reviews of support staff salaries are being conducted. Maintaining competitive compensation for medical support staff has been crucial for attracting and retaining top talent, which has been a primary driver of productivity gains at Virtua Medical Group. With a 96% retention rate for the provider workforce, it's clear that these efforts are paying off.
In addition to technological advancements, several initiatives have contributed to the increase in physician and APP productivity. These measures include the implementation of digital documentation systems, standardized assessment tools, and interdisciplinary platforms to improve structured and efficient data capture, interdisciplinary communication, and clinical workflows. These initiatives promote interprofessional collaboration and remote service options to enhance overall care delivery efficiency.
Inpatient surgical volume has increased, but outpatient volume has shifted the percentage of net revenue to the outpatient side. Despite this shift, Virtua Medical Group remains committed to providing high-quality care across all service lines.
In conclusion, Virtua Medical Group's strategic use of technology and digital transformation has led to significant improvements in productivity and efficiency. By focusing on the needs of both patients and staff, the group has been able to deliver high-quality care while maintaining a competitive edge in the ever-evolving healthcare landscape.
