Ride along with Mark as he warns you about what you must do to prevent breaching your own cybersecurity.
Who actually owns your medical group? It might not be who you think it is.
What are you incentivizing your employees or independent contractors to do? And what if those incentives are driving them to not do other things that are far more essential for your business? What if those incentives are driving them to do things that are clearly detrimental to your business?
Hospitals purchased physician practices, employed and otherwise aligned physicians, and pushed into outpatient care.
Yes, 4.89 billion reasons for you, if you are a physician who owns or is thinking about owning a surgery center (“ASC”). And, yes, each of them is green. Green as in a dollar bill.
And, yes, each of them is green. Green as in a dollar bill.
What if those incentives are driving them to do things that are clearly detrimental to your business?
Look at it like this: You can finally say goodbye to all those folks in suits who have their hands in your pockets.
There was David Isaac Boat Sales. A mile or so away, there was the David Isaac Marina. And, there was David Isaac Toyota. A quick Google search reveals that he has similar car and boat businesses in other towns, too.
Mr. Isaac built a web of interlocking “motorized” businesses, each of which could stand alone, and each of which, some more than others, serves to drive customers to other elements of his ventures.
Over the past decade, much of the web building in healthcare has involved hospitals creating “systems.” Hospitals purchased physician practices, employed and otherwise aligned physicians, and pushed into outpatient care.
But now, with an increasing number of procedures capable of being performed in free-standing facilities, from urgent care to emergency medicine, to free-standing surgical facilities ranging from interventional radiology ASCs to orthopedic surgery ASCs, to, well, almost, you-name-it ASCs, physicians have an increasing opportunity to create their own interlocking webs around the central themes of healthcare and wellness.
It’s true that there’s significantly more regulation of healthcare investments by physicians than there are regulations throttling David Isaac’s motorized empire. But Stark, the federal Anti-Kickback Statute, their state law counterparts and so on are just details. Important details, yes, but not roadblocks to creating you own business structure larger than a single physician practice.
Mr. Isaac could have stopped with his single boat sales lot on Main Street. He didn’t.
Comment or contact me if you’d like to discuss this post.
Mark F. Weiss
Bob, not his real name, was talking about one of his early post college jobs.