If you are private practice cranial, then you are completely fucked.
Two major ways to attack this: diversifying income as much as Stark and MACRA will let you if you’re in PP or union/guild if you are employed.
Can someone explain to me why would groups take the private equity buyout? The deal seems terrible for the neurosurgeons. In the example of 5 neurosurgeons, prior to the deal the 1 neurosurgeon making a 1.2M salary would convert to a 840K salary post-PE for a onetime buyout payout of 719.2K, which is less than a 1 year salary. Plus you are on the hook for the 9million that the PE firm paid. Why would you agree to this paltry deal with the knowledge your practice loses control? Is the environment so bad that PP neurosurgeons are willing to take what looks like a financially shitty deal? What am I missing?
the decision-makers with equity in the practice who are older are making substantial money.
If you’re retiring and don’t give a shit, you take the payout.
Nowadays med schools and residencies select for sheep. The entrepreneurial types are weeded out early. This is the result.
^^ Agree with this 100%. Similarly we learn nothing about payment structure or practice management.
The older generations were the sheep. They got the pay increase in the 60s to the 80s and sat pretty letting everyone else gnaw away at their power, figuring it wouldn’t be a problem in their lifetime. They did nothing to defend its future because fuck everyone else, and that’s why we’re here today.
At least we are more willing to unionize. Older docs seem to think it’s beneath physicians to take a blue collar tactic. They don’t understand their selling out made us employees so unions are the only way to push for what we deserve in terms of autonomy and pay.
