*VALUING YOUR MEDICAL PRACTICE For Sale* | Poll: Selling Your Practice and Retiring — Where/To what type of entity are you planning to sell or getting offers from?
Physician’s Foundation for Health Systems Excellence, (national collaborative project; Source: AAFP)
IDEAL MEDICAL PRACTICES are defined by the following services:
- Care is driven by the patient’s needs, goals and values.
- Access is 24–7.
- The care team uses technology to its fullest (e.g., electronic health records, e-mail, Internet scheduling).
- Patients can see their own physician whenever they choose.
- The majority of the office visit is spent with the physician.
- Overhead is low.
- Patients are seen the same day they call the office.
- Physicians are able to see fewer patients per day.
- Practices are proactive in their care of patients with chronic illnesses.
- Physicians are satisfied and feel in control.
WHITEPAPER: “Ideal Medical Practice Workflow.”
- PATIENT DATA: IMPs VS. USUAL PRACTICES — CLICK HERE to VIEW DATA …
AVERAGE MONTHLY REVENUE AND EXPENSES FOR 12 ONE-DOCTOR IDEAL MEDICAL PRACTICES (CLICK HERE to view AAFP/Physician Found. Data …)
When you redesign a practice around these principles, you can step off the productivity treadmill and focus on excellent patient care.
Fam Pract Manag. 2007 Sep;14(8):20-24.
If you are like most primary care physicians, you probably have had enough of third parties injecting themselves into the front lines of medical care in ways that offer marginal value and drive up costs. Pre-authorization requirements, productivity benchmarks, competing clinical guidelines and pay-for-performance initiatives are just a few of the challenges we face as primary care physicians.
What can we do to return the locus of control to our practices and ensure adequate compensation for our work? We have to redesign our practices to optimize efficiency and show that we can not only deliver superb care but also lower the total cost of health care. The “ideal medical practice” model can move us closer to this goal.
SOURCE: Fam Pract Manag. 2007 Sep;14(8):20-24.; http://www.aafp.org/fpm/2007/0900/p20.html