Articles and Speeches
The Pros and Cons of Leaving Private Practice,
May 12, 2016
In an article published on May 11, 2016, Atlanta partner Jennifer Malinovsky provides insight on the reasons why a growing number of physicians are leaving private practice and moving to hospitals and medical groups. Ms. Malinovsky explains that many of her physician clients have considered integration with hospitals for a variety of reasons. “[H]ealthcare reform initiatives regarding bundled payment, medical homes, and ACOs encourage integration among providers,” says Ms. Malinovsky. She notes that the biggest concern for some providers in urban areas is that they will be left standing alone if they fail to integrate. Another reason why many physicians are looking to move to hospitals and medical groups stems from their significant amount of student loan debt “which makes guaranteed salaries from hospitals more attractive than the prospect of ‘making it on their own’ in private practice,” explains Ms. Malinovsky. From a patient perspective, Ms. Malinovsky says that there are both positives and negatives to physicians moving away from private practice. One negative is that reduced competition can lead to higher prices. “[H]ospitals tend to take longer to make decision about various matters, and there tends to be significantly more levels of bureaucracy when your provider is associated with a larger health system,” she said. On the other hand, larger health systems provide greater access to a variety of services and are better coordinated for patents with multiple medical conditions. For the full article, please click here.