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Attracting New Physicians to Your Private Practice

 

In a world where now one in four medical practices are hospital-owned, there are some challenges to attract the new and talented doctors into private practice. Make sure your practice is well equipped to effectively utilize all the opportunities and benefits of being privately owned. WebsterRogers can help with the operational and administrative demands practices face daily.

While a health system is able to deliver less administrative burdens, private practices afford new and seasoned physicians with more control over patients, flexible compensation models and the ability to determine their own structure of business.

WebsterRogers is able to provide you with the following services so your practice can present these benefits to new doctors in their journey from being residents, to attendings, to owners in your practice:

  • Compensation models
    • Adding incoming employed physicians and owners, removing outgoing physicians
    • Restructuring models based on production, ancillary services
    • Monthly,  quarterly, or annual bonus calculations
  • Up to date metrics and compliance
    • Assessments for revenue cycles,  internal controls, information technology, HIPPA compliance, EHR compliance, benchmarking, meaningful use consulting
  • Analyses
    • Fee schedules, coding, billing, documentation, RVU production
  • Contracts and employment agreements
  • Business valuations and tax considerations for incoming/outgoing partners
  • Mergers and acquisitions
  • Accounting, bookkeeping and tax services offered for the organization as well as individuals
  • Specialization in the healthcare fields  including practices, physicians, ambulatory surgery centers, dentists, and orthodontists
  • Strategic individual financial planning for physicians through our tax services and through WebsterRogers Financial Advisors

You want the best physicians and we can help provide a stable environment to attract and keep the best physicians in your practice. Please contact Nelda Fields or Jaime Brabb at (843) 577-5843 for more information.

 
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Nelda Fields | Debra Turner
Nelda Fields | Debra Turner
Healthcare Services Group | Partners
(843) 577-5843
healthcare@websterrogers.com
40 Calhoun Street, Suite 320
Charleston, SC 29401
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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