Here are 10 must-read articles for spine surgeons maintaining private practice.
1. 5 Tips for Entrepreneurial Spine Surgeons to Stay Independent
Hospitals are employing specialists today at a higher rate than in the past. Close to 70 percent of physicians are choosing hospital employment as the expenses increase and reimbursement decreases. Some spine surgeons will be happier in the hospital environment, but for more entrepreneurial-minded surgeons other options are available.
"There are good models of employment out there if surgeons are comfortable with it," says Todd Albert, MD, spine surgeon and president of Rothman Institute in Philadelphia. "My worry is that employment contracts will look good in the short term but over time surgeons become a commodity when they are not independent."
2. 5 Ways Independent Spine Surgeons Contribute to Spinal Research
Academicians are often considered the surgeon-scientists who will contribute most to the research and development of spine surgery, but the private practice spine surgeons also have many opportunities to meaningfully advance the field.
"There doesn't have to be a difference between private practice and academics in the advancing of the science," says Andrew Sama, MD, a spine surgeon and spine fellowship director with Hospital for Special Surgery in New York City. "There are more private practice surgeons than academics, so they have more of an impact on how spine surgery is perceived around the world. The academicians write the papers, but private practitioners are also involved in clinical research."
3. 5 Pillars of Independent Spine Groups Today From Texas Back Institute
The national trend for physicians leans toward hospital employment, but many orthopedic and spine specialty groups have remained fiercely independent. While being a single surgeon or small group practice continues to be difficult, larger physician specialty groups are thriving. Stephen Hochschuler, MD, co-founder of Texas Back Institute in Plano, discusses what it takes for strong spine groups to remain independent today and successfully grow in the future.
4. 8 Keys of Success at Sonoran Spine Center
Spine practices can follow one of several different business models with a focus on either surgical cases, non-surgical cases or a mix of both. When founding his group, Sonoran Spine Center, Dennis Crandall, MD, chose a model that emphasized treating all different types of patients.
"We have chosen a model on purpose that embraces all spine disease in adults and children — operative and non-operative," says Dr. Crandall, who now serves as the practice president and CEO. "We don't want our referral physicians to think about whether their patients would fit our treatment style; we want them to send patients to us regardless of their condition and we can guide them to the best treatment."
5. 5 Principles of Rothman Institute's Innovative Orthopedic Practice Business Model
"When we began the practice in 1996, we were making no money and wondering whether one of us should go and get an MBA," says Alexander Vaccaro, MD, PhD, a spine surgeon and one of the founding partners of Rothman Institute. "In reality, all we needed was practical application of basic business principles. We wanted to run our practice like a private company, which meant getting good help from an outside person — our CEO Mike West. He came in and his job was to educate us on business tenants. He sat down with us and talked about everything we needed to know about our business."
6. Top 9 Business Practice Recommendations for Solo Spine Surgeon Practitioners
While today's healthcare environment has become more challenging for solo practitioners; there still remains a great opportunity for spine surgeons to establish a successful independent spine practice today.
"I believe in order to become a solo practitioner in neurological or orthopedic spine surgery, one must first have an idea of how difficult it can be to start a solo practice right out of the gates," says Michael Gleiber, M.D., F.A.A.O.S, a Board-Certified, Fellowship Trained, Spinal Surgeon and Founder of Michael A. Gleiber, MD, PA, in Jupiter and Boca Raton, Florida. "Therefore, most surgeons who go into solo practice and limit their practice to spine surgery do not start out that way. Those who seek the benefits of an autonomous private practice generally demonstrate an entrepreneurial spirit and enjoy learning the facets pertaining to the business of spine. There are day to day operations that can be cumbersome, but the overall benefits certainly outweigh the daily challenges in my opinion."
7. Starting an Independent Spine Practice: Q&A With Dr. Douglas Won of Minimaly Invasive SpineCARE
Douglas Won, MD, is the founder and director of Minimally Invasive SpineCARE, based in Texas. Dr. Won is dual-fellowship trained in orthopedic spine surgery and neurosurgery/spine surgery. Here he discusses how spine surgeons can establish a successful independent practice and how they can ensure their practice flourishes as healthcare continues to change.
8. Private Practice Spine Surgeons Can Survive: Q&A With Dr. Ty Thaiyananthan of BASIC Spine
Spine surgeons across the country are facing a tough decision: how do they make changes to adapt their private practice to the changing healthcare climate or do they join an established system as an employed surgeon.
"I've noticed that a lot of surgeons in private practice have joined foundations or are now being employed by hospitals in anticipation of pending changes," says Ty Thaiyananthan, MD, founder and head neurosurgeon of BASIC Spine in Orange, Calif. "I believe though that there are other options for surgeons who want to continue on their own and practice medicine without the constraints of being employed by a hospital or medical group. A lot of surgeons have decided to partner with a practice management companies to help them adapt and thrive in healthcare's changing environment. It's has been a win-win model for our practice. Our association with our practice partners have lowered our overhead, increased our patient volume, allowed us to track our outcomes, and added ancillary services. They've focused on the business of running our practice and we focus on the medicine."
9. 10 Things for Spine Surgeons to Know About Accountable Care Organizations
Here are 10 considerations and facts about accountable care organizations for spine surgeons considering whether to participate in one.
10. 8 Strategies to Overcome Decreasing Spine Surgery Reimbursements
Spine surgeons have seen reimbursements drop over the past few years, and will likely continue to experience downward pressure in the future. Medicare recently announced a 2 percent reimbursement reduction as part of sequestration spending cuts as well. Here are eight strategies spine surgeons can use to tackle dropping reimbursements with contract negotiations, cost cutting and increasing patient volume.
More Articles on Spine:
The Spine Journal Report: 80% of People Support Surgeon-Industry Relationships
Building Strong Referral Source Relationships: 5 Steps for Spine & Orthopedic Surgeons
5 Steps for Spine Surgeon Succession Planning