Strategies for Retaining Hospital-Employed Physicians and Partnering Effectively if They Leave for Private Practice

Statistics show that around 80% of cardiovascular physicians are employed by or under comprehensive professional services agreements (PSAs) with hospitals, but 40% of them report dissatisfaction for various reasons, and 25% are exploring separating from their hospital arrangements. This session will examine several potential strategies hospitals can utilize to retain physicians, including joint ventures for ASCs and enhancing their role in managing the cardiovascular service line.

The speakers will discuss the variety of options for physicians electing to leave hospital employment and PSAs to support the transition back into private practice, including “pure” management contracts with experienced cardiovascular practice management companies, partnering with private equity platforms focused on cardiovascular practices, or joining an existing physician group in the region.

Further, they will discuss how physicians can stay closely aligned with the hospital if a hospital’s cardiovascular physicians separate and go back to private practice. Approaches include various contractual arrangements and joint ventures (regardless of whether the physicians are supported by a pure master services organization or partner with a private equity platform).