Physician practices are increasingly closing amid financial hardships and market challenges.
Here's why five physician practices closed this year:
1. Physician departures. TriHealth closed its Cincinnati-based clinic specializing in the treatment of fibromyalgia and Ehlers-Danlos syndrome after the departure of physician Jennifer Lobert, MD, according to a statement shared with Becker's. The health system plans to transition to a new fibromyalgia and hypermobility care model on Nov. 27, ed by patients' primary care physicians.
2. Economic challenges. MercyOne announced it would close a hospital in Primghar, Iowa, and consolidate some physician practices as part of its reorganization efforts amid economic challenges. MercyOne, which is owned by Livonia, Mich.-based Trinity Health, will consolidate the MercyOne Paulina Family Medicine and MercyOne Sutherland Family Medicine practices with Primghar Family Medicine.
3. Physician retirement. Auburn (N.Y.) Cardiology Associates is closing after nearly four decades following the retirement of owner and head physician Rama Godishala, MD. The closure will reduce cardiac care options in Auburn, requiring patients to travel to Geneva, Ithaca, or Syracuse, N.Y. for nearby cardiology services.
4. Evolving hospital partnerships. St. Mary's Health System closed its oncology practice, St. Mary's Center For Cancer and Blood Disorders, on July 1. Lewiston, Maine-based St. Mary’s Health System and Portland-based MaineHealth are "entering into a more streamlined cooperative agreement in response to a fast-changing environment for healthcare delivery in Maine and beyond," a hospital spokesperson told WMTW. Their 2021 joint venture will end, reverting to an affiliate relationship.
5. Contracts and relationships falling through. In March, Nampa, Idaho-based Saltzer Health closed down. The physician group, which Intermountain Health acquired in October 2020, cited financial and economic challenges in a Jan. 18 news release as reasons for closing or selling. Saltzer also referenced "vital contracts and other market relationships" that had fallen through.