Independent medical practices are not on their way out!
It is old news that privately owned medical practices are on their way out. It is true that financial and administrative burdens are pushing independent practices to the side lines. That keeping the lights on is becoming tougher by the day. But it is also equally true that physicians across the country are beating all odds to stay independent.
Becoming a hospital employee or a part of a huge organization may have its payoffs. But cutting through red tape, being forced to increase patient volume and working under constant scrutiny, act as major deterrents. Physicians who are used to navigating the waters of healthcare alone cannot acclimatize themselves with this environment.
We don’t want to sell!
A recent survey states that 58% of physicians prefer staying independent. Solo medical practitioners in particular are looking to continue as independent entities. Staying independent, physician feel, is the only way to stay autonomous and nurture better patient relationships.
It is patients and not collections that are driving physicians towards running independent practices.
A model that is completely physician driven!
Nobody likes being told what to do. Especially, professionals, who’ve spent a better part of their lives, training and educating themselves, for a career in medicine. And that is why despite mounting pressure independent medical practitioners are fighting the good fight.
Here are 5 ways physicians can continue staying independent…
1. The USP of independent medical practices is the personalized care they offer to patients. Focus on patient communication and engagement to emerge as a profitable medical practice.
2. Don’t miss those appointments! A lot many privately owned independent medical practices are barely staffed. Hire additional staff to handle appointment scheduling or co-source.
3. Several independent physicians are taking the plunge into uncharted waters. Concierge medicine, boutique practices are just some of the other models that physicians are following to remain independent.
4. There is certainly a lot of strength in numbers! Collaborating with other medical practices is one definite way of easing operational burdens.
5. Hire an experienced financial consultant to give tips and insights to offer solutions, strategies and clarity.