Legacy is committed to supporting physicians in the practice environment that best meets their preferences and needs; however, the movement towards value-based care presents challenges to independent physicians.
Our system of health care has become more integrated and the requirements to succeed in the world of value-based care can be daunting for smaller practices. The investment required for IT, quality and safety compliance is burdensome. Research also shows that the younger generation of physicians prefers to join larger practices or hospitals, rather than to own (see recent article).
The pace of consolidation seems to have accelerated, too. Recent examples include:
- Legacy’s recent integration with Westside Internal Medicine, a seven-provider primary care group
- The recent investment in Bend Memorial Clinic by a large national for-profit (Summit Health)
- While Optum, a part of United Healthcare, has no presence here in Oregon, the national for-profit is actively buying more clinics. Recent examples include Boston and Denver.
Despite market consolidation, independent physicians still have options to help them succeed in today’s health care environment. Whatever model works best for you, Legacy is committed to partnership with our providers. Below is a comparison of different practice models and considerations for each. You can also review these additional resources: