Two PYA experts, Zach Doolin, Principal, and John McIntyre, Senior, recently published an insightful article in Medical Economics, the leading practice management and finance multi-channel resource for physicians.
In the article, “Key Considerations for Physicians Joining or Forming a Group Practice,” Doolin and McIntyre provide essentials for physicians:
“Hospital-employed or private practice? More physicians are reexamining where—and how—they want to build their careers. While many opt for positions within hospitals or health systems, others are drawn to the autonomy and entrepreneurial spirit of private medical group practices. Reasons for creating or joining a private practice may include the desire to maintain or obtain independence, have better control of personal income, and fulfill an entrepreneurial desire.
“Regardless of the motivation, significant consideration should be given to the various financial, legal, and operational matters of the private practice. Of the many important aspects to consider, some of the most imperative are the operating agreement, income distribution model, and the buy-in and buy-out process. Building or joining a practice with these considerations as a foundation will ensure a collaborative and sustainable practice for years to come.”
Read or listen to the full article in Medical Economics.
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