Astute Physician

When a disaster strikes—whether it be a hurricane, earthquake, flood, terrorist attack, or some other devastating event—many businesses are eager to volunteer and assist those in need. They want to help rebuild the damaged homes and businesses, and they often donate the necessary materials and manpower to do so. Unfortunately, the resources that are brought in on a volunteer and donation basis typically run out much sooner than expected. And very often, those businesses who gladly gave their time and resources to those in need feel guilty charging for additional services, so they pack up and leave the area, proud of their good deed, yet leaving those in the disaster area with few recovery options.

The healthcare debate is on and mud is being slung in all directions. Physicians have managed to keep their white coats clean, but they won’t stay clean for long. Mud will be slung in our direction. The October 26, 2009 issue of Time magazine has an article that made me realize that some journalist have no idea what they are reporting. They need a story, they have a deadline, and the story needs to sound good. The problem is that many of these stories are filled with inaccuracies and fail to dissect the complex problem that our nation is facing.

Physicians are constantly looking for ways to increase profits due to lower reimbursements and higher overhead costs. Today physicians are seeking out ancillary services like dispensing as an answer to their financial woes.

If you’re a physician and considering dispensing for your practice, then pay close attention. There are some very important things you should consider before getting involved with a repackager. Some repackagers have high upfront fees, long-term contracts and proprietary systems that make it very difficult to break their contact.

by Relief Jones, III, M.D.
Founder & CEO, Astute Physician

(Astute Physician) — I am always surprised to hear of physicians who are willing to work for a fraction of what they should be earning. This is probably a more common occurrence in larger, more competitive cities like New York or San Francisco. But recently, I’ve started hearing of physicians being severely underpaid in somewhat smaller cities and rural regions of the country. I recall a conversation with my healthcare attorney not long ago. She said that she had seen physicians accept employment contracts offering them less than some nurses and physician’s assistants had been offered. This really got my mind going, and I started to wonder why physicians were so apt to severely undervalue themselves in the healthcare marketplace?

Healthcare was previously viewed as a recession-proof industry. Physicians believed that illness would continue to present despite the economic woes of the country. A recent BusinessWeek article echoed these thoughts by stating that “folks could opt for mortgage payments over health insurance.” It seems that as money grows short in the home, people tend to delay preventive healthcare and fail to pay for care already received. With the population becoming older and obesity becoming rampant, this combination could spell disaster for healthcare professionals.

Long before an employment contract will be presented to you, you will be forced to go through what I call “the dating ritual.” This is very much like going out on a date with a new love interest. You will be forced to use all of your senses to obtain a stereotyped image of what you believe the practice in question represents. This is not the time to be shy, as you may be making the decision to “marry” this practice (although divorce is always an option, but something you might want to avoid). The practice will attempt to get to know you and possibly your family during this process. Likewise, you should use this time to learn more about the practice. You will want to know: