Wow, Are Today’s Doctors Diverse

By Charles L. Feitel

Emergency medicine. Sleep laboratories. Lab draw centers. Pulmonary and cardiac rehab centers. Time share space. Physical therapy clinics, etc. These are just a few of the ancillary businesses I have seen physicians become involved in over the recent couple of years. Specifically, doctors are playing an active role in the management and operation of medically related services
Why? Until recently, these types of businesses I mentioned above were run by business or hospital people. Doctors owned and operated medical offices not healthcare businesses. Managed care has changed the conventional ways of doing business. A doctor today could conceivably have his/her income reduced by more than 30% from what it was a few years ago. Severe cutbacks in reimbursements and set negotiated fees with insurance companies has dramatically reduced the amount doctors can charge for their services. If a doctor was used to a certain income several years ago, they cannot achieve that income just running his/her practice.
So, like any other prudent businessperson, they find themselves branching into other venues to replace the lost income. Unless the current system changes significantly, I suspect this will be a pattern for physicians. The purpose of this article is not to editorialize but rather to point out factually what is happening in todays medical climate. There are those who will think it is good for the following reason having medical doctors involved in these healthcare businesses will improve the quality of care, and give the patient a comfort level that a doctor is in charge rather than a business person. The other point of view is that doctors should stick to the practice of medicine. They did not go to medical school to be involved with all these ancillary businesses.
Whichever opinion you may have, clearly the docs of today are diverse in their ventures. Gone are the days of a doctor simply hanging out a shingle and practicing medicine. Once again, managed care has changed things and created new opportunities and adventures for medical professionals.