7 ways independent practices can thrive today

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As independent practices are tossed by waves of change, there’s more than one way to adjust the sails.

In light of continually increasing administrative burdens, fee schedules that barely keep pace with inflation, and competition from the recruitment capabilities of large hospital systems, many independently practicing physicians are aware that they must change their current model, but they are unsure about their options: build? buy/sell? affiliate/align?There is no one-size-fits-all approach, and there are frequently more choices than physicians realize, with corresponding degrees of autonomy along a sliding scale.Before agreeing to the terms of a transaction or entering into a contractual arrangement, it is important to conduct due diligence to clearly understand the terms of the deal, and to compare the proposal to actual or potential alternative options.

Here is a brief summary of some common maneuvers employed by independent physicians whose practices feel unsustainable in the current climate: