Medical billing and budgeting: What every practice needs to know

Medical billing is no longer merely a back-office task — it’s a critical profitability lever for physician practices. With rising software subscription costs, staffing challenges and increasing payer scrutiny of claims, practices must know not just what they’re spending on software, but whether that spend is delivering measurable value and controlling revenue leakage.

Data from the Medical Group Management Association's (MGMA’s) 2023 DataDive shows that single-specialty groups averaged an 8% first-submission denial rate — a signal that even healthy practices face risk.