PracticeLink Magazine

FALL 2014

The career development quarterly for physicians of all specialties, PracticeLink Magazine provides readers with feature articles, compensation stats, helpful job search tips—as well as recruitment ads from organizations across the U.S.

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Page 24 of 103

FALL 2014 | 25 What was the most challenging part of the process? I wish I would have taken the time to learn a little more about finance before buying it. I really encourage entrepreneurism to any doctors coming into this new world of medicine. To that end, it is critically important that doctors learn about finance. It's a very important topic for any practice. There are so many things to understand. Was there anything that surprised you about opening a surgery center? What surprised me were the lack of transparency and the high cost of health care. A patient can pay three times as much money going to a hospital. There is no way they could know there is an alternative. I was shocked when I realized how affordable we can make health care. We still became one of the most profitable surgery centers in the state. It is only through transparency that we can foster consumerism and get patients to shop for high-quality, affordable health care. How would a physician go about opening a surgery center? Many turn to management companies to do it for them. That's not necessary; they can bring in a consultant like me, for example. I've been working with doctors helping them get through the stages of developing and opening a surgery center. It's a matter of taking the time to see how the business works. It's not reinventing the wheel these days. There are plenty of models and information available to guide physicians through the process of opening a surgery center. Especially for surgeons, it's a really integral part of your actual practice. Without that extra income, it's getting increasingly difficult to have a comfortable lifestyle as a surgeon. Any other advice? I think the other thing that might be helpful as an alternative is to go out on your own and joint venture with a local hospital. Keep in mind both quality and affordability when you approach the hospital. Although affordability is a scary word, a surgery center can still be profitable and affordable at the same time. A surgery center will help your practice and your patients, which will ultimately better your community. l —By Marcia Travelstead

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