This article was first featured in Becker's Orthopedic, Spine, and Pain Management and was written by Laura Miller.
Today's healthcare news is ripe with medical service consolidation. With the changes to healthcare legislation, more small orthopedic practices are choosing whether to become employed by hospitals or merge with neighboring practices to form bigger groups.
"There is so much fear and uncertainty right now related to healthcare reform," says Dave Wold, CEO of Health Information Services, who played a critical role in eight successful mergers to grow Illinois Bone & Joint Institute. "You see physicians wondering if the complexity of running their medical practice might be too much. Others want to remain independent and they emphasize coming together with other groups for strength in numbers. Fifteen physicians have more influence when dealing with hospitals and payors than four or five."
Mr. Wold and Wayne J. Miller, Esq., a healthcare transaction and regulatory attorney and founding partner of Compliance Law Group in Los Angeles, Calif., discuss 10 things every orthopedic group should know for a successful merger.
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Photo courtesy of nokhoog_buchachon