20
PRACTICE
MANAGEMENT
Hospital Employment vs. Private Practice — Orthopedic
Surgeons Taking Note of Pros and Cons: 8 Observations
By Adam Schrag
T
ime Magazine reports that orthopedists
earn the highest salaries of anyone in
the medical field, with an average annu-
al salary of $443,000. However, a physician's
decision to enter a private practice or seek
employment at a hospital will ultimately
impact his or her salary and career path.
Here are eight things to know:
1. Orthopedic surgeons who are partners in a
private practice earn roughly $480,000, while
orthopedic surgeons working in hospitals
earn $396,000.
2. Louis F. McIntyre, MD, of Westchester Or-
thopaedics in White Plains, N.Y., argues that
having complete control over his operations,
schedule, staffing and other decisions related
to patient care may outweigh any potential
downsides of private practice.
3. Dr. McIntyre pointed out that while initial
hospital job offers offer orthopedic surgeons
high pay and good incentives, the surgeon has
little to no leverage once under contract, and
oen doesn't receive the same incentives in fu-
ture renewal contracts.
4. He argues that surgeons can strive to be
outcome-driven in their private practices,
whereas hospital administrators may priori-
tize a process-driven system that does not do
enough for the surgeon or the patient.
5. Ian J. Alexander, MD, of Ohio State's Wex-
ner Medical Center in Columbus explained
that current and upcoming changes to the
reimbursement system are likely to reduce
surgeon pay, jeopardizing private practice's
existence and success.
6. Dr. Alexander noted that hospitals are the
largest employers in many cities across the
United States, thereby reducing the impact of
future healthcare legislation.
7. He believes that the security afforded to
hospital-employed surgeons is critical in the
ever-changing world of healthcare.
8. American Academy of Orthopaedic Sur-
geons assists doctors who are currently eval-
uating employment options via their practice
evaluation inventory. n
Booming M&A Activity
Spurring ASC Market Growth:
4 Points
By Mary Rechtoris
T
hrough 2020, the ASC market is likely to contin-
ue expanding, a Market Reports World analysis
found.
Here are four points:
1. The report authors note the surge in healthcare merg-
er and acquisition activity is driving ASC market growth.
2. Other factors contributing to market growth include
more minimally invasive surgeries, with MIS cardiac pro-
cedures experiencing a great deal of growth in recent
years.
3. Unfavorable reimbursement may hinder ASC expan-
sion, as insufficient reimbursement impedes centers'
ability to operate and profit.
4. The report states reimbursement changes pose a
challenge for ASCs to "maximize their revenue." n
A monobloc
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