Physician practice options - Independent vs Hospital- Foundation Affiliation

"The Times They Are A-Changin”   There are many practice opportunities for physicians to consider for the future.   Will you remain in solo practice? Merge with others to form a bigger single specialty, multi-specialty group or ACO?  Join a Foundation or University Affiliation?   This workshop will present a balanced discussion of options and issues for physicians to consider before making these important practice decisions.  This workshop has been presented for the California Medical Association /Western Leadership Academy for the last three years. 

WHY SHOULD YOU ATTEND?

This workshop will be presented by experienced consultant, Debra Phairas, President Practice & Liability Consultants, LLC who has advised physicians in making these critical transitions including shoring up solo/small groups, merging practices, consulting on being acquired and negotiating compensation for physicians.  She has worked with over 1,800 practices since 1985.  Debra has also performed due diligence for acquisitions and devised physician compensation formulas for Foundations and Universities.

AREA COVERED

 Topics Include: 

• Is solo or small group practice viable for the future?
  •  How to survive and thrive by savvy management and marketing
• Merger Mania – Should you merge with others?
• • Single Specialty or Multi-Specialty – pros and cons
• Joining a Foundation, University Affiliation or Hospital Outpatient Clinic Model
• • When to consider an offer and How to assess an offer
  • Will goodwill or intangible asset value be included or excluded and how will this be valued?
  • How will tangible assets including equipment be valued?
  • How many years should the contract be guaranteed?
  • New models such as affiliation with Universities – Private Practice but with University Contract Rates
  • Governance and decision making ability? 
  • Compensation models including base salary and $ per WorkRVU – How this works
  • What will it be like being an employee?
  • What if I want to leave?
  • Will I be restricted from advocating for my patient? Malpractice Risks for Physicians

LEARNING OBJECTIVES

• Attendees will learn how to compare “apples to apples” with present compensation versus WRVU formula offers
• Attendees will learn  how to negotiate the sale of the practice to a hospital
• Attendees will learn important elements to negotiate in contracts to avoid malpractice conflicts of interest

WHO WILL BENEFIT?

Physicians, Clinics, hospital executives, Medical practice administrators