trend watch: physician practice acquisitions...part of a physician recruitment strategy maintain a...
TRANSCRIPT
Trend WaTch:Physician Practice acquisitions
Tracking Which Physician PracTices hosPiTals are acquiring
2TREND WATCH: PHYSICIAN PRACTICE ACQUISITIONTRACkINg wHICH PHYSICIAN PRACTICES HOSPITAlS ARE ACQUIRINg
Are hospitals actively acquiring physician practices? If so, which specialties?
In this report, we share the findings of Jackson Healthcare’s first national study of hospital practice acquisitions.
Key takeaways:
®® Nearly half the hospitals surveyed are actively involved in physician practice acquisitions
®® Family practice and internal medicine are the primary targets
®® Hospitals acquire practices primarily for competitive positioning or through physician inquiries
introduction
3TREND WATCH: PHYSICIAN PRACTICE ACQUISITIONTRACkINg wHICH PHYSICIAN PRACTICES HOSPITAlS ARE ACQUIRINg
This survey was conducted via online and telephone surveys with hospital executives from November 1st through December 15th, 2012.
A total of 118 participants completed the survey. Online respondents were self-selected with 68 completing the survey. Fifty participants completed the telephone survey conducted by Survey Sampling International.
The error range for this survey at the 95th percent confidence level is nine percent.
Methodology
4TREND WATCH: PHYSICIAN PRACTICE ACQUISITIONTRACkINg wHICH PHYSICIAN PRACTICES HOSPITAlS ARE ACQUIRINg
52%
56%
48%
44%
are hosPitals acquiring Physician
Practices?
Planned Acquisitions in 2013(n=119)
Yes
No
Actual Acquisitions in 2012(n=118)
5TREND WATCH: PHYSICIAN PRACTICE ACQUISITIONTRACkINg wHICH PHYSICIAN PRACTICES HOSPITAlS ARE ACQUIRINg
2012 acquisitionsby sPecialty
(actual)
SpecialtyFamily PracticeInternal Medicine, GeneralObstetrics/GynecologyCardiologyPrimary CareGeneral SurgeryUrologyHospitalist & RheumatologyGastroenterology, Nurse Practitioner, Oncology, Orthopedic Surgery, Otolaryngology, Pediatrics, General
Emergency Medicine, Endocrinology, Diabetes & Metabolism, Neurology
Neurosurgery, Physical Medicine & Rehabilitation, Psychiatry (Adult), Pulmonary Medicine
Allergy & Immunology, Cardiothoracic Surgery, Infectious Diseases, Maternal & Fetal Medicine, Nephrology, Occupational Medicine, Pathology, Pediatrics, Subspecialty, Radiation Oncology, Radiology, Vascular Surgery
(n=50)54%26%24%18%16%12%10%8%*
6%*
4%*
4%*
2%*
*The percentage represents each specialty individually, not as a group. For example, Gastroenterology=6%, Nurse Practitioner=6%, etc.
6TREND WATCH: PHYSICIAN PRACTICE ACQUISITIONTRACkINg wHICH PHYSICIAN PRACTICES HOSPITAlS ARE ACQUIRINg
2013 acquisitionsby sPecialty
(Planned)
SpecialtyNone/Not Planning to AcquireFamily PracticeInternal Medicine, GeneralPrimary CareCardiology, Orthopedic SurgeryGastroenterology, General Surgery, UrologyObstetrics/Gynecology, OncologyOtolaryngologyNeurology, Nurse Practitioner, Pulmonary Medicine
Ambulatory Care, Hospitalist, Infectious Disease, Pediatrics, General
Cardiothoracic Surgery, Neurosurgery, Rheumatology, Endocrinology, Diabetes and Metabolism, Geriatric Medicine, Orthopedic (non-surgical), Pain Medicine, Radiation Oncology, Trauma, Vascular Surgery
Anesthesiology, Bariatrics, Emergency Medicine, Ophthalmology, Plastic Surgery, Psychiatry (Adult)
Colon & Rectal Surgery, Critical Care Medicine, Dermatology, Hematology, Maternal and Fetal Medicine, Nephrology, Occupational Medicine, Podiatry, Radiology, Sleep Medicine, Sports Medicine
(n=119)48%31%
22%*13%
10%*8%*7%*6%5%*
4%*
3%*
2%*
1%*
*The percentage represents each listed specialty individually, not as a group. For example, Cardiology=10% and Orthopedic Surgery=10%.
7TREND WATCH: PHYSICIAN PRACTICE ACQUISITIONTRACkINg wHICH PHYSICIAN PRACTICES HOSPITAlS ARE ACQUIRINg
reasons for Physician Practice
acquisition
ReasonPhysicians approach hospital/seek to sell their practices
Build a competitive advantagePart of a physician recruitment strategyMaintain a competitive advantageAccountable Care Organization formationImprove patient safety
(n=69)
70%
58%57%55%30%28%
8TREND WATCH: PHYSICIAN PRACTICE ACQUISITIONTRACkINg wHICH PHYSICIAN PRACTICES HOSPITAlS ARE ACQUIRINg
geograPhic distribution of
resPondents
RegionMidwestSoutheastMiddle Atlantic SouthwestMountainPacificNew England
AreaRuralSuburbanUrban
(n=108)28%28%14%9%8%8%5%
(n=110)58%26%16%
9TREND WATCH: PHYSICIAN PRACTICE ACQUISITIONTRACkINg wHICH PHYSICIAN PRACTICES HOSPITAlS ARE ACQUIRINg
resPondent statistics
Bed Size25 or less26-150150-300300+
Respondent TitleCEOAdministratorPhysician Recruiter / Recruitment ManagerCOODirectorPresidentVPDirector Medical Affairs / Provider RelationsBusiness DevelopmentOther (Coordinator, HR, Associate Dean)
(n=110)9%
52%16%23%
(n=110)25%17%9%8%5%3%3%3%2%3%
Trend Watch: Physician Practice Acquisition by Jackson Healthcare, LLC is licensed under a
Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
More Jackson healthcare researchHere are other national research reports released in 2012:
A Tough Time for Physicians2012 Medical Practice & Attitude Report
Vital Signs 2012A National Nursing Attitudes & Outlook Report
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