Survey finds physicians satisfied with practice acquisitions.
In 1995, Healthcare Financial Management and Physician Services of America conducted a national survey on practice acquisition to determine the types of practices hospitals were buying, the amount they were paying, and whether the hospitals' financial expectations of the practice were being met. A follow-up to this survey was recently completed to evaluate practice acquisition from the physician's perspective. Approximately 500 physicians who had sold their practices to hospitals were surveyed to determine their degree of satisfaction with the sale of their practices. Sixty-seven percent of the responding physicians indicated that they were somewhat satisfied or extremely satisfied with all aspects of the acquisition experience, 60 percent said they would recommend acquisition to a colleague, and 77 percent stated that they were satisfied with how the details of the acquisition process were handled. Of the respondents, 77 percent were primary care physicians. Most of the responding physicians had the characteristics of physicians whose practices are sought by hospitals--that is, they were nearing retirement or wanted to continue practicing for a number of years but were seeking relief from administrative duties and wanted to obtain the equity from their practices.
Wild
J W
JW
PSA Consulting Group, LLP, Harrodsburg, KY, USA.
Hill
J E
JE
D001291:Attitude of Health Personnel; D003625:Data Collection; D004526:Efficiency; D006801:Humans; D010067:Ownership; D010820:Physicians / Q000523:psychology / Q000706:statistics & numerical data; D011216:Practice Management, Medical / Q000706:statistics & numerical data*; D011682:Purchasing, Hospital / Q000706:statistics & numerical data*; D014481:United States