As more physicians choose an employment model, what will happen to independent physicians? What will happen to those physicians who are still in private practice?
These days, hospitals and health systems are seeing more requests from independent physicians about employment options. Hospitals are acquiring independent physician practices and offering compensation packages that include financial incentives (bonus payments) that are linked to patient satisfaction ratings and clinical performance and health care quality. These types of financial incentives may currently only be 3-5% of total physician compensation, but it is expected to increase to about 7-10% of physician total compensation.
If you are still in private practice, do you see yourself staying in that model until you retire? Or, will you be one of those independent physicians switching to an employment model?
If you are interested in learning more, read the Sullivan Cotter's 2011 Physician Compensation and Productivity Survey Report by Sullivan, Cotter and Associates, Inc.