While Physician Alignment Advisory services focuses on traditional consulting services centering on physician practices and health systems, Physician Alignment Transaction Services focuses on execution of a given strategy. Physician Alignment has direct practical experience in leading physician practices, health systems, and working with capital partners – such as private equity firms. Because of this extensive experience in a variety of different settings, Physician Alignment is in a unique position to appreciate the goals, objectives, strategies, and operation of multiple potential partners – in order to facilitate partnerships that work for the longer-term.
Physician Alignment’s objective is to help physicians explore viable options for the future of their practice. To learn more about how Physician Alignment can support your practice, explore the services below.
Employment By Hospital System
Many physicians have become employees of their local hospital/health system. Generally, this involves selling practice assets to the hospital and transferring practice employees to hospital employment. It also involves a compensation plan for the physicians based upon a dollar amount per Relative Work Unit (wRVU) generated—as well as compensation for medical directorships and compensation related to incentive/performance-based systems. Frequently, employment by a health system will also include a component related to service line co-management. This form of physician affiliation, if constructed properly, can lead to enhanced alignment.
Professional Services Agreement
Professional services agreements (PSAs) operate much like hospital employment, except rather than the physician being directly employed by the health system, they remain in private practice and are paid a fair-market compensation for professional services rendered on behalf of the health system. As a general rule, all physician compensation and benefits are paid through the PSA, and the health system will bill for and collect all professional fees. Generally, practice assets are sold to the health system and practice employees also transfer to the health system.
Affiliation With Physician Entity
Physicians have a variety of options available to them with regard physician practice affiliation, including: acquiring another physician practice; selling to/joining another physician practice; affiliating with an Independent Physician Association (IPA); and other options.