Smaller practices will need to adapt in order to be successful in the wake of healthcare reform, according to an editorial from KevinMD.
Bob Doherty, senior vice president of governmental affairs and public policy at the American College of Physicians, wrote that the successful physician practices of the future will demonstrate that they are able to provide measurable "value" for the money being spent, defined as good or better outcomes at lower cost. "With the right mix of supportive public policy and trusted advice and practical resources to help them succeed, I believe that the future for smaller practices may be much brighter than conventional wisdom suggests," he wrote.
While adapting and transforming is considered risky by many physicians in small practices, Mr. Doherty said there is no alternative. "The movement to more integration and bigger sized enterprises has affected every other part of the American economy — how many locally-owned 'Mom and Pop' restaurants or pharmacies are there in your neighborhood? And the small businesses that do survive have had to adapt."
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Bob Doherty, senior vice president of governmental affairs and public policy at the American College of Physicians, wrote that the successful physician practices of the future will demonstrate that they are able to provide measurable "value" for the money being spent, defined as good or better outcomes at lower cost. "With the right mix of supportive public policy and trusted advice and practical resources to help them succeed, I believe that the future for smaller practices may be much brighter than conventional wisdom suggests," he wrote.
While adapting and transforming is considered risky by many physicians in small practices, Mr. Doherty said there is no alternative. "The movement to more integration and bigger sized enterprises has affected every other part of the American economy — how many locally-owned 'Mom and Pop' restaurants or pharmacies are there in your neighborhood? And the small businesses that do survive have had to adapt."
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