Public physician practice management companies. Present issues and recommendations for future viability.
For years, physician practices have been perceived as a "cottage industry". Like the old fashioned grocery stores, the opinion of some was that they were ripe for incorporation into organizations which could take advantage of economies of scale and other synergies. Today, many physicians and organizations are beginning to rethink their approach to physician practice management companies (PPMCs). Is it a viable long term strategy for physicians? Does it promote optimal patient care? Can investor-owned companies realistically respond to the health care needs of patients while meeting the financial demands of investors? This article seeks to explore these issues, to examine the current nature of the physician practice management industry, and discuss what PPMCs might do to add value to the practices they manage.
Barnett
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Institute for Healthcare Advancement, Whittier, CA 90603, USA.
D003284:Contract Services / Q000592:standards*; D003657:Decision Making; D005376:Financial Management; D006279:Health Maintenance Organizations / Q000458:organization & administration; D018578:Hospital-Physician Relations; D015279:Organizational Culture; D010067:Ownership; D011216:Practice Management, Medical / Q000191:economics / Q000331:legislation & jurisprudence / Q000458:organization & administration*; D017150:Public Sector; D012456:Salaries and Fringe Benefits; D014481:United States