2023 Senior Fellows Program (2nd & 3rd Year) | August 2023-Hou

Hou_ASGELargeGroupPractice

Pdf Summary

This document discusses the changing landscape for graduating GI fellows in the healthcare industry. It highlights that there are now multiple possibilities for employment, including traditional options such as academic and private practices, as well as hybrid academic/private and physician-owned practices. It also mentions the roles of GI hospitalists and locums. <br /><br />The document discusses the consolidation happening in healthcare systems, including payors, hospitals, industry, and labor shortages/cost. It then goes on to address the impact of COVID on the industry. <br /><br />The benefits of consolidation are outlined, including increasing market share, improving bargaining power, increasing access to capital, expanding the business and adding new services, funding necessary IT/EMR upgrades, reducing costs, increasing purchasing power, assuming more risk, and branding/marketing opportunities. <br /><br />The value of time and money is discussed, with an emphasis on the finite nature of time and the ability of money to buy happiness and time-saving services/experiences. <br /><br />The concept of large group practice is introduced, with the pros including resources to manage administrative tasks, spreading the responsibility of clinical coverage, work-life balance, and opportunities for further education and training. The cons include less autonomy compared to independent practice models, less control over scheduling/productivity expectations, policies developed without input, less clinical flexibility, and a potential financial ceiling if employed. <br /><br />The document concludes by highlighting the importance of finding the right balance of long-term professional goals and personal needs, and finding the right fit in a large group practice.

Keywords

changing landscape

employment possibilities

consolidation

COVID impact

benefits of consolidation

value of time

value of money

large group practice

autonomy

fit in a large group practice