3 Tips to Consider When You’re an Independent Physician

Your dream was to open your own practice. While there were challenges to becoming an independent physician, you understood that there were also considerable benefits and rewards. Notably, independent physicians:

• operate with increased flexibility and autonomy
• provide improved patient care
• lower patient costs
• receive higher job satisfaction and higher earnings potential

And that’s only naming a few. So how do you remain independent when it seems most physicians these days are now employed?

Here are 3 tips to consider that could help you manage a sustainable independent practice while still providing the best possible care for your patients.

1. Rethink Your Business Model
   With the healthcare industry changing at a breakneck pace – plus becoming more costly and competitive – it is incumbent on independent physicians to explore new and different business models that may help the communities and patients they serve, and improve their financial success. And remember, if things are not working out with one business model, you can always switch to another one. Bottom line is… STAY FLEXIBLE.
2. Build your brand and digital reputation
   Establishing a personal brand in a community has long been a cornerstone of the independent physician. The number of people who look online and use online review sites to help select a new physician is growing, making it more important than ever to not only expand your online presence (website, social media, blog, etc.), but make sure you have a positive online reputation.
3. Streamline Your Process with Technology
   An inefficient operation is a burden on the providers, office employees and – even worse – the patients. Timely, efficient quality care cannot be provided to patients if the practice is struggling with operations and workflow. Investing intelligently in technology and selecting appropriate software and systems are key drivers of efficiency for a practice. When technology is used to supplement routine office processes, it can save time, frustration, and ultimately money.

It may not be easy to remain an independent physician today, but there are numerous resources available to help improve your business, and alternative business models to explore that can position your practice to become more sustainable and rewarding, both today and in the future.

To help you continue to fly solo — or in partnership with other independent physicians — “A Physician’s Guide to Staying Independent,” further explains these 3 tips and includes additional tips and resources to help you manage a sustainable and successful independent practice while providing the best possible care for your patients.