The Medical Economics Physicians Report published earlier this year took an exclusive look at the financial state of primary care practices in the United States, including asking physicians if they received a secondary income outside their practice or employer.
But how does a physician, with a full-time practice, for example, become an expert witness, staff extra shifts in urgent care or work in telemedicine?
Healthcare in the United States is truly at a crossroads with practice overhead costs rising, physician compensation falling and many
independent practices pondering their futures amid multiplying mandates.
Medical groups need to spend a lot of money to outfit, maintain and manage health information technology in their practices—more than $32,500 per year in for every single full-time doctor in the practice, according to a recent study.
Before selling your practice, bringing on a new partner or investor or entering into a new practice management relationship or joint venture, you should first determine if there are any business or regulatory risks present in your practice, as they could jeopardize your transaction or put a portion of your proceeds at risk.