Posted: May 1st, 2025

Discussion Post

Budgeting should be based on the strategic business plan for the medical
group practice. The reimbursement methods used to pay physicians for
services are unique. Financial reporting and budgeting can be more
complicated than in other businesses. Budget development and execution
is the responsibility of the medical practice administrator. What are
the key factors in budgeting, the financial reporting needs and
requirements, and types of management reports needed? Discuss the major
sources of revenue, payor mix and methods of payment that you would
consider in the budgeting process. Explain the new reimbursement
criteria used by CMS. What is value-based healthcare? How do medical
practices provide fiscal transparency?