A new MGMA compensation survey shows that CIOs and information systems directors received median pay increases of more than 7 percent since 2011, as demand for health IT services continue to rise.
The report, Management Compensation Survey: 2013 Report Based on 2012 Data, is based on data gleaned from a survey of CIOs and IT directors in 1,350 medical practices.
According to MGMA, CIOs and IT directors have a variety of projects on their plate: implementing electronic health records, enhancing the functionality of practice management system software, employing new technologies, such as patient portals, and complying with complex new federal programs and mandates, such as meeting meaningful use criteria and transitioning to ICD-10.
“There are a variety of emerging technologies for medical practices, and many are exploring how to use these tools effectively,” said Susan L. Turney, MD, president and CEO of MGMA, in a statement. “As practices are rapidly adding technologies that are increasingly complex and interwoven, having technology-focused staff in the practice is becoming even more necessary. It’s critical that practices have the personnel in place to fully leverage sophisticated HIT tools and, subsequently, to analyze and utilize data they provide in a meaningful way, which could ultimately improve patient care and produce higher efficiencies.”
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The healthcare industry’s upcoming transition to the complex new ICD-10 code set is one of the largest technological transitions CIOs and IT directors have confronted in recent decades, according to MGMA. As the October 2014 deadline for practices to covert to ICD-10 approaches, even more staff time and resources will need to be devoted to upgrading or replacing EHR and PM systems, training clinical and administrative staff, and conducting testing with trading partners, MGMA executives note.
Recent Association research indicates that ICD-10 readiness is lagging, with only 4.8 percent of practices reporting that they have made significant progress when rating their overall readiness for ICD-10 implementation.
[See also: ICD-10 readiness lagging, says MGMA.]
“With the transition to ICD-10 being extremely costly and challenging for medical groups, a well-trained CIO and ISD will be a critical component to success,” Turney said. “Our association continues to arm practices with the knowledge, tools and resources to minimize the potential of significant cash flow disruption following the compliance date.”
