Your viewpoint about the state and future of independent medical practice may depend on whether you see a glass half empty or half full.
A recent ISMA symposium, which addressed the issue, featured some of the state’s top health care leaders and attorneys who discussed the impact of regulatory, industry and competitive forces on medical practice. Their overall message was that hospital employment is inevitable unless physicians prepare to compete with hospitals.
“Fear of the great unknown drives physicians to hospital employment because it is familiar,” explained Thomas Neal, J.D., from Krieg DeVault.
Income and referral security, and stable hours are among some of the reasons physicians seek employment. However, it is possible for doctors to remain independent if they meet certain requirements, such as:
- Size and adaptability
- Capital
- Resources, such as leadership, experience and expertise
- Comprehensive services
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| Frank Kolisek, M.D. |
Frank Kolisek, M.D., president of the 71-physician OrthoIndy, urged physicians to think outside the box. He suggested keeping the younger partners in mind so that the business model is sustainable in the long run and doesn’t fall apart when older physicians retire.
He also said that it is easier for small group practices to survive if they merge with other small groups.
“Quality of care should be first, then efficiency so you are not wasting time,” he said. “Then you can have control over delivering the highest quality of care that you can to your patients. If you achieve high quality, efficiency and control then everything else will take care of itself, and you will have a better chance at being successful and remaining independent.”
Brent Mohr, M.D., from the multi-specialty South Bend Clinic, explained that patient care is the driving force of his organization. He advised attendees to be flexible with what patients want, which may include consideration for electronic medicine like e-mail and virtual consults.
If you do decide to become employed, consider the following:
- Determine your worth
- Research the market
- Always consult an attorney
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| Brent Mohr, M.D. |
Political involvement
Speakers emphasized that the future of medical practice depends on physician involvement in the political process. Dr. Kolisek urged participants to educate their congressmen about issues facing medicine.
Dr. Mohr, who is ISMA’s chairman of the board, added, “Physicians are often reactionary instead of proactive. We have to put aside our differences and join together if we are to survive. We need to belong to our specialty societies, the ISMA and the AMA.”
Here’s how you can affect change. Become involved in ISMA’s Key Contact Program. Find information here.
You also may support legislative efforts through ISMA’s IMPACT. Read more here.
Read how AMA membership benefits you and your medical practice here. |
