Across the country, the evolution of managed care has posed serious threats to the economic survival of many medical practices. To remain competitive in their local markets, many solo and group practices are merging with their neighbors.
One of the critical issues is "to structure a merger that is conducive to meld each party's culture," says David A. Wong, MD, chairman of the Academy's course, "Options and Opportunities in Consolidating Markets: Orthopaedic Mergers and Buyouts." Speaking at the first in a series of the courses held on May 30-31, 1998, Dr. Wong, who is a board member of the Denver Orthopedic Specialists, a 42-surgeon, full-asset merger of six practices, noted the importance of understanding the scope of the merger and identifying important issues that both parties agree and don't agree upon.
"The future of small practices is going to be tough and to be able to provide group coverage, you need to have a reasonable plan for the future in order to survive," stresses David M. Ott, MD, who is part of a four-man group and medical director of the Orthopaedic Surgeons Network of Arizona, an Independent Physician Corporation (IPC).
The course includes an overview of various integration models such as an IPC; a full-asset integration model; the advantages and disadvantages of a management service organization and a physician practice management company; and a debate on the virtues of the different integration models.
"The Academy's mergers and buyout course thoughtfully presents the basic background information and a contemplative process that will better prepare an orthopaedic surgeon for practice and market assessment," said William J. Robb III, MD. "If you are considering a merger or selling your practice, this course is a must and will return a dividend many times over."
For more information and registration about future courses, contact customer service at (800) 626-6726.
|Sept. 12-13,1998||Rosemont, Ill.|
|Oct. 3-4, 1998||Atlanta, Ga.|
|Nov. 14-15, 1998||San Francisco, Calif.|
|Dec. 5-6, 1998||Phoenix, Ariz.|