Advantages of Privately Owned Medical Practices

Privately owned medical, surgical and specialty practices have a huge advantage when compared to hospital-owned physician practices. These advantages stem from the operational structure and management approach, setting private practices apart in delivering efficient and high-quality healthcare to their patients. The advantages and benefits are realized in the following areas:

• Streamlined Decision-Making
• Customized Operational Strategies
• Patient-Centric Care
• Efficient Resource Management
• Enhanced Staff Engagement and Morale
• Agility in Empowered Leadership Adoption of Technology
• Empowered Leadership
• Ability to control physician referrals

In a privately owned medical practice, decision-making processes are streamlined and agile. A privately owned practice has the ability to make swift decisions to adapt quickly to changing circumstances, implement improvements, and optimize workflows, ultimately enhancing overall productivity. Privately owned practices have the flexibility to tailor operational strategies to suit their unique patient base, healthcare services, and community needs. This customization enables these practices to optimize resource allocation and provide personalized care efficiently. This structure allows a practice to prioritize patient-centric care. With a well-organized cohesive team, a private practice can establish strong patient-provider relationships, resulting in enhanced patient satisfaction and improved health outcomes. In addition, privately owned practices often have a more direct line of sight into financials and operational needs. This insight drives the ability to allocate resources efficiently, invest in the right technologies, and maximize productivity without bureaucratic hurdles that are the cornerstone of hospital systems.

As an added bonus, private practices provide a more intimate work environment and foster stronger relationships among team members, leading to higher levels of staff engagement and morale. This positivity translates into a more productive and efficient work atmosphere. These practices can swiftly adopt and integrate technological advancements that align their specific needs and goals. This agility provides cutting-edge technology to streamline operations, reduce administrative burdens, and enhance patient care. At the same time when it comes to making decisions, private practices are empowered by leadership that is closely connected to both patients and staff. This empowerment allows for informed and decisive leadership, fostering a culture of accountability, innovation, and continual improvement.

One of the most important overlooked advantages of private practice, is the physician being in complete control of the patient referral to the very best sub-specialist of their choice. In the physician owned hospital employee system, hospitals frown against employed physicians referring outside the employed physician network. This is due to the loss of revenue the hospital system will incur. With private practice, the patient greatly benefits by being referred to the very best sub-specialists of the physician’s choice.

As a leading U.S. provider in high performance Electronic Health Records Software, Practice Management Software and Revenue Cycle Management Solutions, MD Logic offers turn-key solutions for healthcare professionals in over 25 specialties of medicine. Our technology allows our clients to excel in productivity, patient engagement and increased profitability.

To learn how MD Logic can reduce your overhead, increase efficiency and maximize profitability, please contact our corporate headquarters today at 800-273-7750.