Here are 10 opportunities for independent physicians and ASCs to build their business from Fred Davis, MD, president and CMO of ProCare PainSolutions and a clinical assistant professor at Lansing-based Michigan State University.
Dr. Davis will be speaking at the Becker's 16th Annual Future of Spine + The Spine, Orthopedic and Pain Management-Driven ASC Conference. To learn more and register, click here. Contact Maura Jodoin at mjodoin@beckershealthcare.com or Kristelle Khazzaka at Kkhazzaka@beckershealthcare.com for further information about sponsorship and exhibitor opportunities.
Question: Where do you see the biggest opportunities for independent physicians and ASCs to build their businesses?
Dr. Fred Davis:
1. Choosing locations that are not overcrowded by competition.
2. Settling in communities served by older physicians who will be retiring soon.
3. Maintaining strong ties to the community they practice in.
4. Having a personality that is compatible with practice building and visibility.
5. Keeping a strong focus on patient services and value based care.
6. Choosing service lines smartly.
7. Collaborating with other likeminded professionals
8. Building functional relationships with clinically integrated networks that control the patient populations they serve.
9. Shifting from a provider-centric to patient-centric model of care.
10. Seeking ways of meeting the needs of the patients they serve, including a change in hours of operation or treatment location.
For both of these situations another option is to become part of an MSO with other independent practices or ASCs. This allows for large scale professional management resources, marketing, business development, contracting, IT services, compliance with regulatory changes, revenue cycle management, credentialing, recruitment, human resources and a higher level of administrative skills than can be obtained individually.
This model is being used in our pain medicine network in Michigan where ProCare Pain Solutions manages three separate independent practices with a total of 13 clinical locations across the state.