What about your practice’s stream of business? Is it a single channel, even a very large single channel, or is it supported by multiple streams, streams of income, that is?
Go ahead, I encourage you, think entrepreneurially. But please be smart about it.
Why become a hospital-employed physician?
Competitive advantages are developed, excluding competitors from the equation.
Your business doesn’t exist to control costs. It exists to serve your customers. It’s efficacy in terms of doing the right thing the right way for your customers that’s important.
As much actual tension as there is between physician groups and ACOs, they share a common weakness.
Citizens Medical Center, a county-owned hospital in Victoria, Texas, paid the United States government $21,750,000 to settle, without admitting wrongdoing, a whistleblower suit under the False Claims Act. The whistleblowers, competing physicians, will receive $5,981,250 from the recovery.
A friend told me about his old boss, a guy who thought he was sending a message of his own importance by showing up late to meetings with his clients.
One way or another the hospital controls who’s practicing there. Think the medical staff is totally independent? Despite what is supposed to be, let’s get real.
As much actual tension as there is between physician groups and ACOs, they share a common weakness.