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Medical practices merge to lower costs & increase capacity, but diversification, survival during tough times, and competitive advantage play a role as well.
Payers are already rolling out initiatives to address Social Determinants of Health (SDoH). Some are also incorporating SDoH into value-based payments models.
Medical practices that consistently apply a disciplined approach to strategic planning are better prepared to evolve as local markets change and industry undergoes reform.
When a medical practice decides to outsource billing, a key priority is choosing a reputable vendor they can trust with their patient’s medical information.
Succession planning is one of the most important decisions a physician will face, yet many neglect to plan their exit until they're ready to retire.
It is imperative that all physician owners have a shared vision and that all staff members are aware of the desired future direction of the practice.
Placing the burden on doctors to restore their own work-life balance overlooks burnout’s structural causes over which physicians have little control.
US healthcare is booming. In 2017, healthcare overtook both retail and manufacture as the nation’s foremost employer– not just of physicians and nursing staff,...
Forming a joint venture with another healthcare organization may be seen as a plausible solution. The success of a joint venture though highly depends on thorough research and analysis of the objectives. Here are some pros and cons of joint ventures for medical practices.
The decision to merge should be fully vetted before physician groups decide to go ahead given the risks and the average performance of returns.
Nomad has created a digital platform that helps healthcare professionals looking for work connect with healthcare facilities looking for staff without the need to go through a third-party recruiter or broker.
A joint venture is an agreement between two or more healthcare entities usually entered with a specific goal in mind. Each party is invested in terms of capital contribution, the time and effort put forth to complete the defined tasks. The partners pool their resources and expertise and share in the risks and rewards.