Why Cutting Costs Won’t Save Your Independent Practice
Medicare reimbursement rates have declined 33% over the last 20 years while practice costs have skyrocketed. Every year, financial challenges further squeeze independent practices. It’s only natural that managing partners and practice administrators start scrutinizing expenses and slashing costs. But cost-cutting alone won’t protect a practice.
Thriving Independently: Entrepreneurial Opportunities for Physician-Led Practices
How can independent practices navigate financial pressures, regulatory burdens, staffing challenges, and reimbursement complexities—all while preserving clinical autonomy? Managing partner Rohit Goyal, MD of Pulmonary Associates of Fredericksburg takes an entrepreneurial approach to practice leadership that helped him increase annual revenue by 15%—without increasing his workload.
Why Independent Practices Need to Survive — and Thrive
Patients can receive great care in many different settings, from a large national health system to the office of a single rural physician. So why is there so much concern about the decline of independent practices?