IC206-2021: The Business of Medicine: Hospital-Based, Academic, Private Practice - Learning How To Succeed-The Business of Medicine: Hospital-Based, Academic, Private Practice

The Business of Medicine: Hospital-Based, Academic, Private Practice - Learning How To Succeed (1/5)

Video Transcription

Video Summary

In the video, the speaker discusses various topics related to building verticals and organizational structures in medical practices. They mention that the biggest challenge for doctors is balancing the business side of running a practice with patient care. The speaker also talks about the importance of value-based care and the shift towards the outpatient setting. They highlight the significance of ancillary services and the potential for increased revenue from these services. The speaker provides insights on different compensation models and ownership structures, including physician employment, group compensation formulas, and the benefits of consolidation. They also touch on the importance of patient capture rates and the potential revenue generated from each patient. The speaker emphasizes the role of ancillary services, such as MRI and physical therapy, in generating additional income. They conclude by briefly discussing private equity and the option of aggregation as an alternative to partnering with private equity firms.

Asset Caption

Brian Cole, MD, MBA

Keywords

medical practices

patient care

ancillary services

compensation models

revenue generation

private equity