Ten years ago, 70% of orthopedic surgeons were in private practice and 30% were employed; now, the inverse is true. That's a concern, but there is hope.
"In the last two years, we've had three different physicians that have joined us from the health system," said Adam Berry, CEO of Summit Orthopedics in Minnesota, during a keynote panel at the Becker's 21st Annual Spine, Orthopedic & Pain Management-Driven ASC Conference in June. "When you talk about the pendulum swinging one direction or the other, I think there's a lot of different things that are going to be advantageous towards the independent groups."
He said if independent groups have a solid financial footing and run operations smoothly, they'll be a great alternative for hospital-based physicians.
Mike Boblitz, CEO of Tallahassee Orthopedic Clinic, is also seeing a trend of experienced physicians exiting the hospital and looking for another landing spot.
"We're getting a lot of physicians as we speak joining the group that are mid-career, hospital employed physicians that feel like they don't have the autonomy," he said.
The specialization of an orthopedic practice is attractive to those surgeons, who have been one aspect of a large medical faculty at the hospital. The ability to control their own destiny in private practice is also attractive.
"We're finding people that have the desire to have entrepreneurship and ownership in their blood, sweat and tears, which is exciting," said Mr. Boblitz.