In a recent article at Becker.com, Charles Bush-Joseph, Professor at Rush University Medical Center in Chicago, Associate Director of the Rush Orthopaedics Sports Medicine Fellowship Program, and an OrthoForum member, discussed three major challenges for growing orthopaedic practices today:
- Vertical integration of care. The greater demands of bundled pricing require the orthopedic surgeon to monitor and control all elements of care.
- Finding the optimal model of growth. Orthopedic practices need to find the optimal size for market coverage and efficiency. We are evaluating whether partnerships/mergers, strategic investment, or simple organic growth is the best path forward for our group.
- Finding the best model of compensation/ownership to attract and retain the highest quality practitioners. As we drift away from individual clinical productivity as a method of driving revenue through the organization, the challenge of maintaining individual and group incentive is critical.
Bush-Joseph goes on to discuss opportunities for growth and technologies on the horizon. Read the full article here.
