solo practice doctor joining a group, how to do it without a lawyer

Should I join a group practice or solo private practice?

Group Practice Vs. Solo Private Practice? Which Is Right for You? Should I join an established group practice or start my own solo practice? As with many things, my answer was “It depends”.. It depends on your personality and your individual goals. Group Practice Vs. Solo Practice It is hard enough to make the decision to go into private practice.

What is it like to work in a solo practice?

In a solo practice, you are the janitor, the plumber, the accountant, the marketing specialist, etc. So, it can be hard to fit in the same number of clients and do all of those other tasks.

What is the role of an HCP in solo practice?

Total responsibility: In solo practice, the HCP carries the burden for all the issues that arise — from setup, staffing, management, and overhead to the provider functions. This can be an overwhelming amount of work at times.

What is it like to be a lawyer in private practice?

The truth is that in private practice, most people are busy seeing clients for the entire day and there is not as much “water cooler” talk as you will find in a traditional work environment. Most people go home if they do not have clients to see or if they have free time due to a no-show, you are busy seeing your own clients.

Before you hire your first clinician

Check with your state (you can ask other practice owners in your state as well) on any laws regarding how you can pay your clinicians. There are various pay structures, from paying a flat rate to clinicians, paying a percentage, or salary.

As you hire your clinicians

Decide on what you need with regards to who you hire before interviewing your first person. This way you know what you are looking for. Do they need to see a certain population or have a specific background? Is there a gap to be filled? Check out more here and here.

Here are the resources and guides we recommend based on this article

Do you have an in-office or virtual intake coordinator? Do you want to increase your conversion rate, create a smooth intake process that works, and empower your intake coordinator to feel successful and perform better? Therapy Intake Pro is a unique program that is designed to help your intake coordinator level up their skills and feel increasingly confident & effective in their role.

Why is it important to join a large group?

All of these factors lead to an increase in profitability. Other advantages to joining a large group include brand awareness.

What should I do before merging with another company?

Before agreeing to a merger of affiliation with another group, you should perform proper due diligence, examining the potential partner’s financial health, leverage in the market, experience with managing care, service line strength, performance expectations, and your organization’s decision-making power.

Do providers have to give up control of operational decisions?

In most cases, providers will have to give up some (if not all) control over operational decisions. In a hospital setting, for instance, physicians may have limited input in hiring scheduling staff or selecting a billing service provider. Succession planning is another factor to consider.

Is a physician considered an employee?

In cases in which the physicians are considered employees—such as in a hospital system —there is often an annual salary, with or without additional incentive compensation. The incentive pay may be based on productivity, quality, or other factors.

Going solo

The pros: The freedom to set your own schedule, dedicated staff and resources, and fewer distractions — solo practice can be appealing if you want to be your own boss. It’s also a learning experience, offering you a crash course in everything from marketing and human resources to facility management and contract negotiation.

Joining a group

The pros: Most new family physicians choose to join an existing group practice (or start one with other professionals) to take advantage of shared overhead expenses. Other benefits can include a lower staff to physician ratio, shared fixed costs like the purchase of medical equipment, and better price negotiating power for purchasing supplies.

Deciding which business model is right for you

Besides pondering the pros, cons and costs outlined above, answering these questions will also help you decide what type of practice will best fit you and your situation:

Supporting you in the decision-making process

As you can see, different practice models offer both advantages and disadvantages. With a careful analysis of your long-term goals, and a detailed assessment of your financial situation with help from an MD Advisor *, you’ll be well prepared to make the career decision that best fits your needs.

How to join a practice?

You can consider this as a 4-step process : 1. Getting the interview. 2. The interview process. 3. Negotiating the agreement. Each step has its own challenges.

How long is a practice interview?

If you want to hone your interview skills you can go on "practice interviews" at professional association job banks. These may be 10-15 minute interviews, but they can help you work on your skills at sizing up the practice and having a professional discussion that is not riddled with obvious anxiety.

Is the search for a practice to join based on fear and insecurity?

The search for a practice to join and the interview process does not have to be one based on fear and insecurity. It is a process of each side assessing their perceptions of fit. Understanding that there is a lack of fit is as important as being clear that the practice is absolutely one in which you want to work.

Do mental health attorneys cost money?

The attorney may be especially familiar with issues related to restrictive covenants, ownership of clinical records, responsibilities of each party if the agreement is terminated. Yes, these services do cost money.

Can you have more than one drink?

If you drink alcohol do not have more than one drink. If they are treating do not pick the most expensive item on the menu. The interview process is your opportunity to put your best foot forward and to show them what value you bring to their practice, beyond that of the other candidates. The Numbers Game.

Do you have to be ashamed to say you are thinking of joining a practice?

You don't have to be ashamed to say you are thinking of joining a practice and that you are trying to talk to a number of local practices, even if they don't have a particular position open at this time. Sometimes that kind of statement might get you a 15-30 minute meeting.

Can you be recruited without applying for a specific position at a practice?

Many practices often have their radar up for opportunities to bring someone on board they believe will be a good fit. If they think you might be one of those somebody's, you may be able to be recruited and in the door for an interview without applying for a specific position at the practice..

Group practice

There is currently no standard definition of what makes up a healthcare group practice. Practices may contain anywhere from two to hundreds of providers. In a 2021 qualitative descriptive analysis of 98 papers, patients of group practices were more satisfied with their quality of care.

Solo practice

Smaller practices have been demonstrated to see lower costs, as well as incur fewer preventable hospital readmissions and lower readmission rates overall. Additionally, studies have determined that providers working in small or solo practices experience less burnout.

Finding the right fit

How do you determine which style of practice will be best for you? There are a few things to consider that can help you in the decision-making process.

Making your choice

As we’ve seen, both group and solo practice have their pros and cons. Most challenges can be addressed in either setting. Knowing your personality and practice style will help you decide which setting will best suit your needs.

Can you open another practice within a specific number of miles?

You might get stuck in a group and be unable to leave! Most group practice contracts have a non-compete clause that says that you cannot open another practice within a specific number of miles from their practice.

Do you go home if you have no clients?

Most people go home if they do not have clients to see or if they have free time due to a no-show, you are busy seeing your own clients. Now, many group practices still have staff meetings, professional development, and holiday parties. So, it’s still more than solo practice, but it takes work to get it. Finances.