77th ASSH Annual Meeting - Back to Basics: Practice and Education-IC52: Rumors & Lies About Private Practice (AM22)

Video Transcription

Video Summary

The video transcript discusses the rumors and lies about private practice in the medical field, particularly in the field of orthopedics and hand surgery. The speaker emphasizes the importance of educating residents and fellows about the different aspects of private practice. They also discuss the control and flexibility that comes with private practice, as well as the potential for variability in income streams and overhead. The video addresses various topics related to private practice, such as the optimal density of hand surgeons, call responsibilities and compensation, being in or out of network, surgery centers, and marketing. In conclusion, the speaker points out that private practice is not for everyone, but it offers opportunities for control, income diversification, and personal growth. They also discuss the importance of partnerships and consider the costs and considerations of leaving a practice. The video provides insights into the financial aspects of private practice, such as understanding overhead costs and the financial implications of buy-in and buy-out agreements. The speakers also discuss ancillary services, private equity ownership, and the need for independence in practice. They stress the importance of relationships and trust in joining a practice. Overall, the video offers a comprehensive overview of the financial considerations and challenges faced by orthopedic surgeons in private practice.

Meta Tag

Session Tracks Practice Management

Speaker David F. Ratliff, MD

Speaker Gregory D. Byrd, MD

Speaker H. Brent Bamberger, DO

Speaker Orrin I. Franko, MD

Keywords

private practice

orthopedics

hand surgery

education

control

income streams

overhead

partnerships

financial aspects

ancillary services

challenges