Is Private Practice an Endangered Species?

 

The number of private medical practices is shrinking in the US.  Some say this is an unintended consequence of the Affordable Care Act, as insurers have been increasing premiums and deductibles to individual policyholders and have dramatically slashed reimbursements to physicians.

The loss of private practice physicians and other healthcare specialties impacts the community.  While it’s understandable that private practice owners might want to sell to a hospital in the current climate, there are ways to grow our practice and remain independent.

A private practice is a small business and it takes business skills to make it grow and thrive.  Just as you studied to master your medical specialty so you can help your patients thrive, so too must you invest tie and energy in learning how to grow your business.  One of the most important aspects is controlling your reimbursements and revenue.

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