Tuesday, November 9, 2010
WSJ: Employed Physicians on the Rise --- The Beacon Alternative
The article in Wall Street Journal yesterday, "When the Doctor Has a Boss: More Physicians Are Going to Work for Hospitals Rather Than Hanging Up a Shingle" should not come as a surprise to anyone. The accompanying graph also clearly shows this disturbingly strong trend.
A study quoted in the article revealed that the share of practices that were hospital-owned last year hit 55%, up from 50% in 2008 and around 30% five years earlier. Projections show that this trend is likely to continue for a variety of valid reasons that include, but are not limited to:
· Decreasing reimbursement
· Fear of the unknown in regards to Health Care reform
· Rising administrative burden
· Increasing oversight
· Expanding technology requirements
· Shrinking referral base
· Malpractice and health insurance concerns
· Possessing a shrinking voice being increasingly marginalized due to lack of size
If it sounds like I am making the argument for consolidation… you are right, I am.
But you can still come together without becoming an 'employed physician' and maintain your independence and autonomy.
There is an alternative way in which you can keep your private practice and enjoy the benefits of consolidation without joining a hospital or health system. It can also be done effectively without having to rip down the corporation you have built to form one big multispecialty group.
We believe our model is the most attractive for the independent physician in private practice. It is a clinically integrated independent practice association.
We value private practitioners, because we are private practitioners.
Together we can stop this disturbing trend highlighted by the WSJ and well know to every physician practicing medicine today. Be part of our movement, we need each other. Join Beacon IPA.
For more information, please contact us.