The number of physician practices owned by hospitals has increased 86% over the past 4 years, which also resulted in a 50% rise in the number of physicians employed by hospitals, according to a recent study.
This is a call to action for all doctors. Practice owners are now facing many of the challenges small retailers in America faced not too long ago. Consumer demand has shifted the landscape in favor of larger product selection with online access. Doctors are being forced to adapt to the new rules of the game or get left behind.
The Medicare Access and Children’s Health Insurance Program Reauthorization Act of 2015 (MACRA) ushers in a new age of “value-based payment reform” and forces the question, “How does one become more interdependent without losing one’s identity?”
Farzad Mostashari, MD, recently sat down with Medical Economics to weigh in on topics ranging from how his former employer can truly make value-based care attainable for solo and small practices as well as the true fate of private medicine.
When physician groups in the Dallas-Fort Worth area started to feel the pressure of value-based contracts, they realized quickly that banding together was the best way to maintain autonomy while staying competitive in a changing market.
The fight against the pressures facing independent primary care practices can take many forms. For some, it has meant joining forces with other practices to attain the benefits that come with size without sacrificing their day-to-day autonomy. Others are taking a different route—minimizing the bureaucratic obstacles to practicing medicine by adopting direct pay practice models.