Eugenio Hernandez, MD, the group’s vice president of clinical affairs, discussed the draws of private practice with Becker’s ASC Review.
Editor’s note: This interview was edited lightly for brevity and clarity.
Question: What will draw the next generation of physicians to private practice?
Dr. Eugenio Hernandez: To attract the next generation of top physicians, private practices will certainly need to remain competitive with overall compensation and work-life balance. Beyond compensation, private practice may offer important benefits that other employment models cannot, such as a higher degree of autonomy in clinical decision-making and work schedules. Furthermore, private practices can show value by providing a culture of active mentoring. Experienced physicians can demonstrate how to build relationships with referring physicians, operational management of staff and understanding the financial skills necessary to run a business. Private practices can offer additional income opportunities with partnership in ASCs, imaging centers, pharmacy services, real estate and even potential equity in a larger private practice organization. Given the current competitive labor market and the anticipated physician shortage, the total value of private practice is more important than ever.
Q: Where does physician education fall short?
EH: The primary goal of physician education should always be to provide quality and compassionate medical care, regardless of the setting. Instruction on the different employment models, business finance and long-term career planning will help better prepare future physicians for an increasingly complex healthcare system.
