1. Solo practice owner
Pros: Physicians have full control and autonomy over the practice and can learn strong business skills.
Cons: There is often a large administrative burden for solo practice owners. There are also high startup and overhead costs and unpredictable work hours.
2. Group practice owner
Pros: Physicians will gain an established patient base and will share patient responsibilities. They have more predictable hours and income when burdens are shared between several physicians.
Cons: With partners, autonomy is more limited than as a solo practice owner. Physicians could have less say in income distribution, management and other issues.
3. Employee in group practice, hospital or health system
Pros: Physicians have an established client base through the health system and more income stability. The schedule is more predictable, depending on the number of physicians within the organization.
Cons: Physicians have less autonomy and less continuity with patients. There is little to no control over income distribution.
4. Employed physician in academic institution
Pros: Salaries might be lower than in other practice settings, but there are often added benefits, including more time off and better retirement options.
Cons: Attending faculty often have to fill in patient-care gaps for residents and trainees who are governed by work-hour limits.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
