The many financial challenges of remaining independent are all too familiar to private practice physicians. Decreasing reimbursement, increasing costs, navigating ongoing healthcare reform are the top threats to profitability reported in the Practice Profitability Index.<\/p>\n
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This national survey also revealed that 39% of 5,000+ participating physicians predict eroding profits in the year ahead, and nearly 1 in 4 respondents (24%) say they would consider selling their private medical practice.<\/p>\n
However, more than half of physicians want to stay independent, the question is: how? For many practices, banding together as a mega group is the right tactic to boost profits, buck the trend toward hospital employment and remain independent for years to come.<\/p>\n
Bringing a diverse group of private practices together under one tax ID number can yield distinct benefits, including:<\/strong><\/p>\n