So…are you watching the health care world consolidate…get BIGGER ALL around you? Hospitals merging and acquiring medical practices and forming big integrated care systems or ACOs. Small to mid-sized medical specialty practices like orthopedists and neurologists are merging to form BIG independent practices.
At Therapy Partners, we are transforming the value of physical therapy in our health care market and how our members are rewarded for delivering that value.
How is a small, independent therapy practice to survive?
Some practice owners are selling their practices. A few are merging with other practices. But most therapy practice owners are standing back and watching as hospitals and physician groups come together to form large, powerful medical organizations. These BIG entities are dominating the health care market and will for many years to come. But can you afford to stand back and wait? While the health care market changes around you, can you afford to assume it’s ‘business as usual’ for private practice physical therapists? Probably not a very good strategy.
Our health care world is really changing. But how can I change? Or do I even want to?
Seems like I have to either dig in my heels, stay the course, and hope this is just a passing trend. Or else I will have to sell my practice.
But hold on a minute…You love owning your own business, running it your way; you are proud of the reputation you have created and the culture you have built. The last thing you want to do is sell. But you know within the next 2-3 years, it’s going to be really tough to ‘go it alone’. That is just not a smart strategic approach. Size matters and BIG gets the attention.
Therapy Partners (TPI) offers you another solution – a Management Services Organization, or MSO, for independent therapy practices. As an MSO, TPI allows you to attain the benefits of truly being BIG while allowing you to maintain ownership and control of your therapy business.