In this episode of the MGMA Insights Podcast, host Daniel Williams speaks with Sharon Sagarra, MBA, FACMPE, owner of Sagarra Medical Consulting, and an MGMA Consultant. Sharon shares her extensive experience in healthcare management and provides actionable strategies for medical practice leaders to optimize compensation and benefits plans for their employees. Her insights are particularly relevant for those attending the upcoming MGMA Staffing Conference, where she will present on this very topic.

Practical Takeaways for Medical Practices 

1. Develop a Comprehensive Budget 
Maintaining a detailed budget is essential for managing financial challenges such as rising minimum wages and decreasing insurance reimbursements. "Make sure you're doing a budget. I was surprised the last two practices I was at did not have a budget," Sagarra emphasizes. A comprehensive budget helps practices monitor expenses, identify cost-saving opportunities, and allocate resources efficiently​

2. Streamline Operations and Utilize Group Purchasing 
Streamlining operations and leveraging group purchasing organizations can significantly reduce costs. Sagarra advises, "Look at supplies that could be streamlined with maybe one or two vendors or group purchasing organizations." This strategy helps negotiate better rates and simplifies inventory management, reducing both costs and administrative burdens​.

3. Automate to Improve Efficiency 
Implementing automation can help reduce payroll and overtime expenses while enhancing staff efficiency. Sagarra notes, "Automation of tasks can make things easier for your staff, reducing costs in payroll and overtime." Automating billing, appointment scheduling, and other administrative tasks frees up staff time for more impactful activities​.

Resources Mentioned 
MGMA Staffing Conference Information 
Sagarra Medical Consulting 
Sharon Sagarra on MGMA
Sharon Sagarra on LinkedIn

Consultants Corner: Key Strategies for Optimizing Compensation and Benefits with Sharon Sagarra

Medical Group Management Association (MGMA) equips practice administrators and executives with the knowledge and tools to head high-performance physician group practices in a complex and evolving healthcare environment.