Albeit the ups and downs of the medical field, doctors are still considered hot property by many companies. Specialists in general, internal medicine and pediatrics are being sought after by large physician management groups. In this age of medical reform, an investment banker states that most big companies and its investors believe that these medical practitioners specializing in primary care are the gold in the industry.
As the country suffers from a shortage of primary care practitioners, the new trend in the medical reform arena will certainly speed up the pace in primary care doctor demand.Some of the advantages that managed care groups bring can be seen by how they make primary care doctors the gatekeepers of the medical trend that dictate how certain costs such as medicine, consultation fees and tests can be minimized. Many large companies and state and federal governments already rely on managed care to cut medical bills.
Consumers and their employers are the main market targeted by the hospitals and health maintenance groups which are the physician management firms’ main clients. 1980 was the year that the physician management trend began and it still continues to grow as seen in the last few years. Among the professional investors who banked in doctor management firms are medical doctors, health insurance companies and risk-taking capitalists. A steady climb has been apparent among most publicly traded care management firms amid the depreciation of most general medical stocks.
Physicians are aware of the many advantages that can be derived from joining these companies. One is a signing bonus that is not less than several hundreds of dollars. Afterwards, they enter into an agreement that would be advantageous to them as it guarantees an annual income of at least 100,00 dollars a year which could be up to 30 years, and financial security from uncertainties in health reform programs. Doctors under managed care find their income as estimable as independent doctors and sometimes even much higher.
Management companies take on even the taxing roles of hiring new staff, marketing to clients, billing, check writing, leasing of office space and copier machines as well as malpractice insurance needs and other matters. Managing schedules of physicians so that they work around eight hours per day, and lessen their work around the clock is also one of the tasks of these firms. A common fear is that corporate supervision might not enable the patients to have the best kind of service in order to make more for the company.
These physicians are now encouraged to focus on their duties under the supervision of their superiors who are tasked to make sure that costs are minimized as quality of service is retained. Many doctors clearly can’t relish the idea of having a boss that will be making sure they don’t exceed budgets. Only in time can the efficacy of the physician management firms be tested especially in their pledge that doctors won’t have their patients piling up otherwise they hold back on proper cure and that earnings will not reduce the quality of care.