Dr. Larose is speaking on a panel titled “Key Thoughts on Thriving in a Consolidating World” at the Becker’s 15th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference + The Future of Spine on June 22 to 24, 2017 in Chicago. Click here to learn more and register.
Q: How are spine, orthopedic and pain physicians navigating the challenges associated with consolidation in healthcare?
Dr. Daniel Larose: Our main strategies to remain relevant in the era of consolidation are a) diversify referral basis, relying only on few groups of physicians for referrals is risky; b) market directly to patients and increase the percentage of your patients self-referring; and c) make sure to offer high quality care and up-to-date treatment that patient are more and more asking for and researching.
Q: In what situations is it smarter for independent physicians to merge or sell? When should they stay independent?
DL: Certainly it’s a case-by-case, market-by-market decision. So far we have favored internal growth where we can mold new physician to the practice’s culture. The timing of a merger is critical but at this point our group’s strategy has been internal growth therefore avoiding the merger’s potential pitfalls.
More articles on orthopedic practices:
Medscape: Which books do physicians want their patients to read?
How an orthopedic clinic for the underserved cut appointment wait times from a year to a few weeks
Dr. Michael Kellams: How to navigate consolidation in healthcare as an independent physician
