What physicians should consider when choosing their path.
The Medical Group Management Association reports that more than 50 percent of physicians are now employed by organizations affiliated with health systems. In some specialties, like cardiology, that is closer to 75 percent. Given the rapid increase in the number of physicians that have chosen this model does that mean this is the right choice? Are there alternatives? How do you decide?
Like everything else there are both pros and cons associated with employment. Briefly they are:
So how do you decide if it is right for you? Use the points below to help make the right decision.
My experience is that your ability to negotiate is very different if you approached them or they approached you. Regardless, don’t assume any deal is "take it or leave it," especially if you are in primary care. Hospital deals are constrained by "fair market value" rules and most systems will use an outside consultant to craft the offer (I know, because I’ve done this). Remember that the consultant is paid by the hospital and not you. Guess where the loyalty sits?
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.