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Turnaround distressed physician practices. 20 tips for success.

L F Wolper1

  • 1L. Wolper, Inc., Great Neck, NY 11021, USA. lwolpinc@aol.com

Medical Group Management Journal
|February 8, 2000
PubMed
Summary

Physician practices face unprecedented financial and operational distress due to rapid growth without infrastructure changes. This article proposes solutions for struggling medical groups navigating organizational challenges.

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Area of Science:

  • Healthcare Management
  • Medical Practice Operations
  • Health Economics

Background:

  • Physician practices are undergoing significant restructuring via mergers, acquisitions, and sales.
  • Internal expansion through physician recruitment and new office openings is also prevalent.
  • Many practices struggle with operational and financial distress stemming from growth outpacing infrastructural development.

Purpose of the Study:

  • To address the unprecedented financial and operational distress in physician practices.
  • To propose solutions for medical groups experiencing failure due to rapid organizational growth.
  • To offer insights for practices facing challenges from practice management company withdrawals and bankruptcies.

Main Methods:

  • Analysis of current trends in physician practice restructuring.
  • Examination of operational and financial distress factors.
  • Review of market withdrawals by practice management companies.
  • Identification of root causes for practice failure.

Main Results:

  • Rapid organizational growth without infrastructural change leads to distress.
  • Withdrawal and bankruptcy of practice management companies exacerbate practice instability.
  • An unprecedented number of physician practices are in financial and operational distress.

Conclusions:

  • The current landscape presents unique challenges for physician practices.
  • Effective solutions are urgently needed to support struggling medical groups.
  • Addressing infrastructural deficits is critical for sustainable practice growth.

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