Physicians Practice - January 2008 - (Page 63)

CME CAREER TO PARTNER, OR NOT? BY JACQUELINE M. DUDA IS IT BETTER TO PARTNER OR TO GO IT ALONE? LIKE SO MUCH IN LIFE, IT DEPENDS. Consider the case of Ralph Conti. Upon graduating from medical school in 1990, the pediatrician launched a solo practice in Henderson, Nev. But just four years later, he changed course. His penchant for collegiality and desire to spend more time with family won out over issues like autonomy and ﬂexibility. “I don’t like working alone,” says Conti. “I need to bounce cases off other doctors, and I like it when they bounce cases off me. I love the intelligent banter.” So Conti forged his ﬁrst partnership with three other physicians. The group ﬂourished and quickly grew to include 14 doctors. But disagreements erupted about the compensation structure. When Conti eventually lost his veto power, he left. But he was undaunted and undeterred. Conti is now part of a successful eight-physician partnership with ﬁve ofﬁces in the Henderson area. Has it been worth the time and effort? “I survived,” he says, laughing. And he learned a lot. Here are some things you should consider before making the decision to partner. WHERE THERE’S A WILL LEARNING OBJECTIVES After completing this article, readers will be able to: • List the key factors they should consider before deciding to form a partnership with another physician(s). disadvantages of working as a solo practitioner. can negatively affect a partnership. • Outline the beneﬁts and • Identify two areas where core values WWW.PHYSICIANSPRACTICE.COM Collegiality certainly factors into the decision, says Kenneth Hertz, a senior consultant with the Medical Group Management Association. That, and seizing the right opportunity. “Suppose the doctor from a small town is fresh out of medical school,” says Hertz. “He knows a senior doctor there who’s retiring.” Hertz explains that a smooth transition — the new doctor is ramping up his practice as the senior doctor is winding down — can be one good reason to partner and grow a practice. But you can ﬂy solo and still enjoy collegiality, says Randall Zarin, senior manager with UHY Advisors — a national tax and business consulting ﬁrm that serves the healthcare industry — although you may have to go out of your way to do so. Reach out to other colleagues in the community. Their feedback won’t always be immediate due to varying physical proximity, but the intellectual exchange will be worth it if collegiality is your goal. Call coverage is another major factor. Patricia Raymond, a gastroenterologist in solo practice in Chesapeake, Va., says primary-care physicians generally like to partner because they handle the lion’s share of patient calls — every runny nose, every high fever in the middle of the night. There’s strength in numbers, she says, when handling a boatload of calls. But don’t count out solo practice if that is your calling. You can work with other solo practitioners to provide call coverage. “Sometimes, the only other choice in some areas is to turn to your competition, or join a network of solo practitioners to provide coverage when you want time off,” says Owen Dahl, a practice management consultant based in The Woodlands, Texas. But it may be worth it for Gen Xers, he argues, who place time off and involvement with family high on their priority list. Zarin maintains that solo physicians shouldn’t be deterred by the possibility of losing their patients to JANUARY 2008 | PHYSICIANS PRACTICE | 63 http://WWW.PHYSICIANSPRACTICE.COM

Table of Contents Feed for the Digital Edition of Physicians Practice - January 2008

Physicians Practice - January 2008 Contents The Bigger Picture: Fixing Medicaid Letters Physicians Practice Pearls: You Can Teach an Old Dog New Tricks Noteworthy Cover Story: Fee Schedule Survey: 2007 Results Adding Ancillaries: Bucking the Practice Ask the Experts Idealab: 'How I Got Over My EMR Excuses' Technology: Don't Be Denied The Tech Doctor: Blessing or Curse? The Administrator's Desk: Learning From the Best Coding Career: To Partner, or Not? Management: Controlling Your Inventory Human Resources: How to Fire an Enployee Finance: Beyond Reimbursment - How to Fix Your Mix Classifieds Advertiser Index

Physicians Practice - January 2008

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