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Results for “Practice Valuation and Purchase”

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PubMedDate not supplied

From primary care physician employment to private practice: easing the transition.

In most cases, the practice acquisition and employment strategy of the 1990s has backfired, with acquired physician practices losing in the range of $50,000 to $100,000 or more per physician annually. There are two alternatives for addressing the operating deficits incurred from practice ownership and physician employment: (1) restructuring through the implementation of network-wide and practice-specific initiatives to improve financial performance; or (2) wholesale (i.e., all practices) or selective practice divestiture, depending on the individual practice financial performance and "fit" with the physician network strategic priorities. Unraveling a decade's worth of physician-health system relationships that are grounded by the notion of acquisition and employment is going to be a complex process for both parties. But given the magnitude of financial losses on acquired practices and the inability of health care providers to sustain future losses, there simply are not options beyond restructuring or divesting these relationships.

Career Mobility↗
PubMedDate not supplied

Employment agreement: what every doctor (junior and senior) needs to know--Part 3.

The final article in a three-part series, this article covers what should and should not be included in an employment agreement. For new recruits and hiring physicians alike, it provides a step-by-step guide to the key issues involved in contract negotiations. Four main topics are addressed: compensation, working conditions, termination provisions, and buy-in provisions. Contractual compensation issues include, among others, salary, bonus, insurance premiums, pension, moving costs, and loans. Contractual working condition issues include the term of the contract, vacation policy, call coverage, governance, CME policy, permissible outside activities, office hours, degree of physician autonomy, physical and human resources, and sick leave. Contractual termination provision issues include rights to termination, covenants not to compete, medical record ownership, and assignment. Contractual buy-in provision issues include probationary periods, the assets being purchased, valuation formula and financing.

Contract Services↗
PubMedDate not supplied

To purchase or lease?

Explore the source record for details and available documents.

Dental Equipment↗
PubMed2000

Legal considerations in group practices and physician management.

Physicians are restructuring their practices in response to competition, managed care, and federal and state laws and regulations restricting their practice of medicine. Many physicians have formed group practices with the hope of selling this practice in the future. For physicians to profit from ancillary services, the group practice must meet federal and state requirements. If physicians choose to sell the group practice to a physician practice management company, careful review and negotiation of the purchase agreements are necessary to prevent complications if the arrangement is unsuccessful.

Group Practice↗
PubMed1999

Providing capital for physician group practices: new opportunities for hospitals.

As physician group practices grow and consolidate, they have an increasing interest in developing close capital partnerships to ensure access to capital. Yet as many healthcare organizations have sought to divest poorly performing acquired physician practices, physicians have seen their pool of potential capital partners shrink. Under these conditions, hospitals have a new opportunity to present themselves to physician group practices as attractive capital partners. To understand the nature of this opportunity, one needs to know why group practices seek capital, how groups approach their investment strategies, and what criteria they use to compare prospective capital partners. To build stronger relationships with physicians, hospitals should focus on turning around their poorly performing acquired physician practices and pursue strategies such as collaborating with physician practice management companies and developing new models for partnering with physicians (e.g., special purchase agreements and more advanced management services organizations).

Capital Financing↗
PubMed1999

Buy vs. bye.

At first, the retreat of practice management companies looked like a great opening for hospitals. What better way to acquire prime medical groups from motivated sellers? Trouble is, you still need a motivated buyer. That's why some observers contend hospitals will purchase only a fraction of medical groups being divested by MedPartners and other retrenching firms.

Decision Making, Organizational↗