Practice Aggregation and Value Creation: How 3 Different Practices Models Have Grown to Create Value

PROGRAM DESCRIPTION: Private practice otolaryngologists face headwinds related to rising costs and falling reimbursement. Maintenance of strong private otolaryngology practices is of critical national interest to serve our local communities by providing high-quality, cost-effective care. In this panel, we will present the tools that three different practices have used to solve some of the most pressing challenges/issues faced by private practice otolaryngologists including: 1) Decision making and governance structures in mid and large sized practices, 2) Access to capital: use of debt versus outside capital, 3) Related Entities and alignment of financial interests, 4) Physician recruitment and retention, 5) Practice merger and acquisition 6) Payer contracting – has it improved? 7) Inflation - Cost of goods and services, 8) Use of advanced practice providers . We will review the mechanisms used by each of the practices to solve these and other challenges. We will share our histories including our successes and our challenges and describe plans for future growth and the tools we plan to employ to maintain our independence.

OUTCOME OBJECTIVE 1: Analyze top-line practice value based on mixed reimbursement rates to determine mechanisms for acquisition or integration of new physicians or practices.

OUTCOME OBJECTIVE 2: Evaluate different potential options for integration and/or aggregation of physician practices in your unique regional geography.

OUTCOME OBJECTIVE 3: Demonstrate an understanding of the metrics used to determine your practice's enterprise value including an understanding of the calculations used to determine EBIDTA and the levers available to maximize your practice's EBIDTA.

BACKGROUND STATEMENT: Independent otolaryngologists provide care in many regions outside or adjacent to the catchment of major medical centers. Developing and maintaining a strong, independent private practice otolaryngology community will ensure future trainees have a place to practice and care for patients.

Comprehensive Otolaryngology Track Statement :