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VIDEO: Options physicians can use to manage practice foundation, contracts
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LOS ANGELES — In this exclusive video from GI Outlook 2019, Joseph Vicari, MD, MBA, FASGE, of Rockford Gastroenterology Associates in Illinois, discusses a pre-conference workshop on how to build a foundation, manage contracts and navigate transitions in a practice.
“We focused on contracts, the transition from associate and partners contract,” he told Healio Gastroenterology and Liver Disease. “We discussed the importance of proper vetting contracts both from the potential new physician employee as well as the organization.”
The workshop also focused on some emerging topics, contract dilemmas and discussions on the rise in the United States before exploring the trends of ancillaries, buy-ins and buy-outs and outsourcing.
To close the day, Vicari said they discussed how to work through the retirement of a partner by transferring responsibilities and recruiting new physicians.
“We talked about practice transitions, phasing in and out for physicians,” he said. “We talked a lot about different models of phasing out and the importance of phasing out for the organization’s emotional and financial health, as well as the physicians financial and emotional health.”
Disclosures: Vicari reports no relevant financial disclosures.