Can Solo Practitioners and Small Group Practices Survive in Today's Challenging Marketplace?

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While practicing medicine has never been easy, today's physicians must struggle with difficult issues that physicians in prior generations never had to address. As a result, physicians still clinging to the traditional model of practicing alone, or in small groups, must fight to survive as operating costs mount, reimbursements decrease, governmental oversight expands, and third-party audit initiatives become more common. Because of these pressures, contemporary physicians are, in increasing numbers, abandoning traditional notions of medical practice and seeking to operate within new business structures that allow them to better compete in today's healthcare market. Others are simply closing their private practices and entering into employment agreements with local hospital systems that have begun to actively recruit more and more physicians by encouraging them to "walk away" from the uncertainties and pressures of private practice in exchange for a steady salary and job security.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Joel Greenberg | Attorney Advertising

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