During a physician roundtable session organized by Staff Care, Dr. Andrea Lundell related a story emphasizing how important it is for small practices to partner with staffing providers that fully understand how to help meet today’s advanced staffing needs — so the practice can best avoid the risk of being sold tomorrow.
As the scale of a practice grows, so does the need for additional paperwork and personnel, as well as additional time to process all the new procedures. In addition, as the personnel and scope of the practice increase, the prices to customers rise, as well — essentially changing the nature of the business.
Dr. Lundell's story involved a physician who dealt with these issues by selling her small-sized practice to a larger healthcare system, only to subsequently lose control over the practice and see her career take an unexpected turn. In this light, our panel discusses how to avoid the unwanted effects of selling your physician practice out of financial or administrative necessity.
Check out the video below to get the full story, and be sure to check out other healthcare staffing videos at the Staff Care YouTube channel.
Do you have experience with selling a physician practice to a larger company? Share your experiences in the comments, or connect with Staff Care's locum tenens LinkedIn group here.