Steps to Greater Success for Your Practice
If you’ve established a successful orthopedic practice, you should be congratulated. Succeeding in the 21st-century medical environment is no easy achievement. But you may have reached a position where you’re wondering how you can increase your patient growth, market share, equity, and profitability.
If you’ve never considered joining a management services organization because you believe you will lose too much of your independence, but you want to improve the quality of your practice and achieve increased wealth, you should consider scheduling a consultation with Growth Ortho — a new type of MSO.
Advantages of Joining Growth Ortho
Growth Orthopedics has a novel and dynamic approach to physician practice management companies. We ensure the success of the practice and our MSO through the following steps.
1. Commitment to Physicians
Before we make changes to improve efficiency and improve growth, we need to know that the practice physicians are satisfied with their role in the Growth Ortho organization. In order to ensure physician satisfaction, we are committed to:
- Physician autonomy with all medical decisions.
- Allowing doctors to manage their workload.
- Defining clear-cut income and equity incentives.
- Allowing member practices to maintain their brand.
- Doctor participation in the hiring process for new surgeons.
By guaranteeing physician fulfillment, we believe that we expand our patient roles.
2. Improving Efficiency
In order to ensure patient satisfaction and allow for future growth, it’s essential to coordinate and modernize our systems with regard to call-taking, scheduling, record keeping, and all other support functions. Growth Ortho examines the processes and procedures of our participant practices identifies areas for improvement. We then upgrade the processes to meet demand. Ultimately, both doctors and patients will benefit from a state-of-the-art, efficient practice.
3. Expanding the Practice
An orthopedics office cannot expand beyond the capacity of its physicians. Because Growth Ortho can utilize its size and reputation to appeal to a broader array of physicians, our member practices only interview the best candidates available. We recognize how vital a harmonious relationship is, so our existing physicians are able to participate in this vetting process. Equity stakeholders are also allowed to participate in the Second-Bite Board to help determine offices that we accept.
4. Equity Partnership
Growth Ortho recognizes that MSOs operate better when doctors are helping to make the decisions. That’s why equity in our MSO is available to key personnel in your practice. Additionally, there is a pathway to equity for new doctors.
5. Ongoing Due Diligence
The improvement process doesn’t end after your facilities receive an upgrade. We are constantly examining our member practices to achieve a better understanding of what works and what doesn’t. When a member of our MSO finds a better way to achieve our combined goals, the entire organization benefits.
Advantages of Joining a Management Services Organization
There are many advantages to becoming part of a larger group like Growth Ortho. If you have concerns or are unsure, we encourage you to schedule an initial meeting. Here are some of the key advantages to orthopedists and key equity holders in individual practices.
- Time to Focus on Medicine – By removing yourself from the day-to-day business of the practice, you can focus more on what you do best.
- Improved Leverage – Belonging to a large, multi-practice MSO, you have more bargaining power when negotiating with vendors, payors, and insurance companies.
- Practice Growth – If you’ve seen the expansion of your practice stall, it may be because you’ve outgrown the single-practice model. Growth Ortho can get you back on track.
- Physician Selection – Our size and national recognition allow us to select some of the best orthopedists in the country. You will only receive top-qualified candidates in your practice.
- Improved Income & Wealth – Growth Ortho offers enhanced incentive programs for physicians, including equity participation.
- Autonomy – Most managing physicians started a practice to enjoy independence. Growth Ortho will not get in the way of the clinical treatment of patients. Practices will maintain their branding