Building and Managing a Successful Private Practice

Abstract

Significant benefits for private practice employment exist in today’s medical landscape, despite continued downward pressures against this model. These include freedom of schedule, case volume and/or selection, access to ancillary revenue streams, and control of office personnel. While entering into a private practice exposes a surgeon to more financial risk than hospital or academic employment, it also holds potential for greater entrepreneurial fulfillment, especially for more business-minded physicians. With the constantly evolving medical landscape, it is our belief that there will always be a role for private practice models in delivering quality and economic healthcare for future generations. This chapter serves to outline the potential benefits, as well as risks, of a private practice employment model.