Here are three major reasons physicians are selling their practices, according to the survey:
1. The most cited reason for sale was payment. Nearly 80 percent of surveyed physicians said the need to negotiate higher payment rates with payers was a key reason why their practice was sold or acquired.
2. Managing payers’ regulatory and administrative requirements was the second-most cited reason.
3. The third-most cited reason was improving access to costly resources.
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.