Medical Group Leaders Invest in Professional Development
MGMA Stat Poll Report Shows Positive Trends for February 2023
In February 2023 Medical Group Management Association (MGMA) published a special Stat poll report on the statistics of professional growth amongst medical group leaders.
The survey result suggested that most (58%) respondents spend one to four hours per month on professional development. They allocate time to gaining new skills and work experience to reach a new goal.
From the total 431 applicable responses, twenty-four percent (24%) of the survey participants reported spending five to nine hours, whereas 17% could find over 10 hours of quality time to focus on professional growth planning.
The responses were mixed when asked about how to supplement professional growth. However, most medical group leaders used at least one of the following tools: Webinars, Articles, conferences, online networking, and updates from local organizations such as MGMA.
The majority of the leaders cited their resources from various professional development help. Others pursued MBAs, executive coaching, mentorship, and educational media.
Based on its recent stat poll, Medical Group Management Organization outlined ten valuable resources to help medical group leaders with their professional journey.
Some of the MGMA recommended resources for professional growth development for medical group leaders include:
1. Saving time with Lean strategies. 2. Advisor resources for leaders for reference. 3. Two can't-miss emails each week. 4. Find a mentor or coach. 5. Live or on-demand, expert-led webinars. 6. Keep watching your phone each Tuesday and Thursday for MGMA Stat. 7. Streamline your survey participation. 8. Add an ACMPE Certificate credential to demonstrate your expertise. 9. Connect to new ideas with MGMA's flagship publication. 10. Take time away from the office to network and learn.
According to a report from the United States Bureau of Labor Statistics (BLS), those who pursue a profession in the healthcare industry have a great chance of professional growth at the rate of 13%. That is irrespective of their experience or leadership position and relative to the 5.3% growth rate for general job growth.
Indeed, the agency predicts that over 2 million jobs will open in the healthcare arena in the coming eight years. Likewise, the healthcare profession comes with increased earning potential. But, on the downside, medical group leaders risk the burden of continual education and training, as well as work burden and burnout.
In conclusion, the Medical Group Management Association's (MGMA) February 2023 Stat poll report shows that medical group leaders invest in their professional development.
The survey results suggest that most respondents spend 1–4 hours monthly to gain new skills and work experience to reach a new goal. We hope this trend continues and encourages more medical group leaders to invest in their professional development. Thank you for taking the time to read this report.