OrthoTexas : A Private Practice Weathering the Storm of Hospital Consolidation
With the tidal wave of hospital consolidation in healthcare , there ’ s a public perception that patients don ’ t have a choice when selecting a specialist anymore –– this simply is not true . Physician owned , in-network practices continue to thrive and provide the most complete access to the highest quality physicians , therapists , technology , and staff available in the healthcare industry today . OrthoTexas Orthopedics and Sports Medicine celebrates its fifth year as a premier physician owned orthopedic practice , sighting its all-inclusive model as a key differentiator in its success .
Knowing the difference between independent and employed physicians can empower patients to make informed choices . As healthcare reform pushes higher reimbursement rates to hospitals , private practices across the country are being forced to either close their doors , or be acquired by hospital groups . CNN reported hospital purchases of physician owned practices increased 30 to 40 % over the past five years , which has made finding an independent practitioner increasingly difficult . However , locating one of these hidden gems not only ensures a higher level of personalized care for the patient , but it also helps heal our broken healthcare system .
The Affordable Care Act was architected to incentivize quality of care –– not quantity of care , yet hospital acquisition of physician practices has been shown to initiate higher prices . For example , health insurance might pay $ 1,000 to treat an oncology patient in the doctor ’ s office , but $ 5,000 if it ’ s done in a hospital . What is the reason for the drastic difference ? Hospitals have higher operating costs , even if you aren ’ t utilizing their 24-hour ambulatory care , patients are still paying the significant overhead fees . Independently owned facilities , like OrthoTexas , are not only able to operate more efficiently , but patients are able to see their preferred doctor more quickly . “ At OrthoTexas , our patients only pay for what they need ,” says Dr . Keith Heier , OrthoTexas Board President , “ that ’ s a big difference when it comes to deductibles and co- insurance .”
When doctors aren ’ t in charge of their practices , many feel patient care takes the first hit , because to an independent doctor , patients are not just a number to meet a quota . Yes , your physician may be less stressed about administrative hassles , but under hospital management , is constrained by numerous layers of administrative policy . Many doctors are forced to see substantially more patients per day , decreasing the time spent with each patient . This model inherently works against fostering a solid doctor-patient relationship . “ OrthoTexas was
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COLLIN COUNTY Living Well Magazine | MAY / JUNE 2016