I wanted to get thoughts and opinions in my situation regarding possibly starting a private practice. Some background info: I'm in a surgical sub-specialty in a geographical area that could probably sustain a few more in my field. All of the private practitioners in the area are over 55 and looking to taper down. I'm working with one of those practioners now and the schedule is full. Originally the plan was to kind of take over/buy out after he decides to get out, but going through negotiations recently, it became clear that they just want to treat me as a cash cow. I'm weighing options now and am considering starting my own practice after saving up a few years.
I know historically, that the percentage of private practices has been consistently declining - especially given how the ACA is now with the advent of ACO's and moving from fee for service to value based, etc. Right now, it's still kind of up in the air how this will play out in terms of actual pay and how insurances will treat private practices vs hospitals, and that is where my concern lies. I believe I have a good sense of how to actually run a private practice. I am entrepreneurial and would embrace the challenge of making it a success given that it's my own. If I start up in the next few years, I feel I could carve out an area given everyone else is on their way out. I've already established somewhat of a base already. I could provide supplemental income by taking call at hospitals - i'm already covering 2 and getting compensated.
I'm just unsure if the healthcare landscape would support private practices in the future. Would it be too much of a risk to start up given some of those favorable factors, or is the state of healthcare in the future to the point where private practice just won't survive no matter what? Would others in my position open up a new private practice if they had the means?
Thanks!
I know historically, that the percentage of private practices has been consistently declining - especially given how the ACA is now with the advent of ACO's and moving from fee for service to value based, etc. Right now, it's still kind of up in the air how this will play out in terms of actual pay and how insurances will treat private practices vs hospitals, and that is where my concern lies. I believe I have a good sense of how to actually run a private practice. I am entrepreneurial and would embrace the challenge of making it a success given that it's my own. If I start up in the next few years, I feel I could carve out an area given everyone else is on their way out. I've already established somewhat of a base already. I could provide supplemental income by taking call at hospitals - i'm already covering 2 and getting compensated.
I'm just unsure if the healthcare landscape would support private practices in the future. Would it be too much of a risk to start up given some of those favorable factors, or is the state of healthcare in the future to the point where private practice just won't survive no matter what? Would others in my position open up a new private practice if they had the means?
Thanks!
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