Like other medical professionals, urology practices face a number of operating challenges that strain their resources and reduce profitability. These include shrinking reimbursement rates, burdensome overhead and administrative costs, and an ever-changing regulatory environment.
Seeking to escape these pressures, some practices have joined a hospital or health system. However, once acquired by a hospital, physicians become hospital employees with little independence or ability to profit from their performance and productivity. Their contracts can also be terminated at any time.
For practices seeking an alternative to hospital acquisition, partnering with a group like U.S. Urology Partners can help support the business aspects of the practice while freeing urologists to focus on patient care.
“We see partnering with U.S. Urology Partners as a great opportunity for urologists who wish to retain clinical independence but also want greater management support and financial strength,” said Mark Cherney, CEO, U.S. Urology Partners. “The healthcare environment continues to become more complex and demanding for physicians. Our goal is to allow physicians to focus on clinical care while our skilled experts optimize other business aspects of the practice.”
U.S. Urology Partners has compiled Cherney’s answers to some of the most common questions from practices considering partnership opportunities. U.S. Urology is focused on supporting urology practices through operational expertise, management skills and deep financial resources. The firm’s physician partners retain their independence, avoid hospital employment, and drive clinical leadership and patient care. The Q&A can be found at www.us-uro.com/questions-answers/
Among the questions are:
- How do practices benefit operationally?
- What are the financial benefits?
- How will it help physicians close to retirement?
- What will be the outcome for middle-aged and younger physicians?
About U.S. Urology Partners
U.S. Urology Partners offers an alternative to hospital acquisition, allowing urology practices to retain their independence while benefiting from operational support, management expertise and deep financial resources of a partner. The strength and experience of U.S. Urology Partners enables practices to concentrate on what they do best – delivering the highest level of care to patients. U.S. Urology Partners is an affiliate of Central Ohio Urology Group and NMS Capital with plans to expand nationally. www.us-uro.com