decisionhealth Newsletters, Part B News - 2008 Issue 12 (December)
Consider consolidation, to weather recession, save money
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Article Overview
This article covers the financial and operational pressures affecting solo and small physician practices, including declining solo-practice prevalence, rising expenses, and reimbursement challenges. It is aimed at physicians, practice managers, and healthcare financial advisors who want a high-level view of why consolidation is being discussed and what practice-management issues come with it.
Why This Topic Matters
The piece helps readers understand broader practice-organization trends during economic stress and why consolidation may be considered as a business response. It is relevant for evaluating whether a solo or small group practice model remains sustainable.
Article Sections
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Solo practices decline
This section reviews trends in the number of solo and two-physician practices and places them in the context of broader changes in the practice environment.
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Consolidation considerations
This section discusses business and operational factors that influence whether smaller practices consider sharing resources or merging.
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TIP
This brief section offers a general practice-management suggestion related to the consolidation process.
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NOTE
This brief section highlights a caution about practice consolidation and related business considerations.
What You Will Learn
- Why small physician practices are facing pressure to consolidate
- How changing economics can affect solo and two-doctor practices
- What broad operational issues may arise when practices share resources
- Why practice consolidation is often more than a financial decision
Who Should Read This
- Physicians
- Practice administrators
- Medical group managers
- Healthcare financial advisors
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