Succession Planning Whether you are a solo practicing physician or a member in a larger group practice, it’s wise to begin thinking about your business succession plan. I have found in my consulting practice that many physicians seem to wait until the last minute to address the issue of succession. … [Read more...]
Updated Physician Practice Acquisition Study: National and Regional Changes in Physician Employment 2012-2018
Physicians are increasingly leaving private practices to join hospital networks, states a new report from the Physicians Advocacy Institute. From July 2016 to January 2018, hospitals in the United States acquired approximately 8,000 private medical practices. Over the same period, … [Read more...]
More Doctors Choosing Hospitals over Private Practices
April 25, 2019 By: Ashley Herzog Published by The Heartland Institute From July 2016 to January 2018, hospitals in the United States acquired approximately 8,000 private medical practices. Over the same period, 14,000 physicians left private practice to work for hospitals. In … [Read more...]
Physician merger team and practice administrators
Sometimes the question is raised: “Should the administrators or office managers serve on the merger committee or merger team?” My experience shows that it is not advisable to place them on either team, although they will play critical roles throughout the process. Merging groups tend to … [Read more...]
When merging physician medical practices, look at for these – they will derail your merger plan
Continued Resistance Inability to Compromise Lack of “Group-Think” Sacred Cows Hidden Agendas Clashing Personalities Inability to Make Decisions Staking out Leaderships Roles too Early … [Read more...]
Advantages of Forming a Merged Group Practice
In case you have not thought of some of the benefits of merging physician medical practices: Increased Revenues From Same Practice Production Reduced Overhead Managed Care Contracting Technology Upgrade Capability New Revenue Streams Call Coverage Clinical Staff Leverage … [Read more...]