Many doctors consider joining a Medical Group Practice instead of establishing their own solo practice.

A medical group practice is a collection of physicians who have come together contractually or in partnership for the purposes of managing a practice and sharing the care of patients. Once they have established themselves as a legal entity, the medical group can also contract with third party payers (ie. insurance companies).

Why do doctors choose to join a Medical Group Practice?

In the medical group practice setting, you have less control over your schedule and the team you work with. You build up no equity in your practice, and you will have no ability to sell your practice when you retire.

So what would make a doctor consider joining a Medical Group Practice.

In one word: freedom.

Doctors can take solace in the fact that no decision is permanent, and that they can change the type of practice they work with or for in the future.  They can move to another location easily, and leave a location if you feel it is not to their liking.

Perhaps most appealing is that your salary continues no matter whether your productivity decreases or fluctuates. You will also get all the various types of insurance coverage you need, plus retirement benefits.

What to consider before joining a Group Medical Practice

You should find out as much about a prospective group as you can by asking other doctors, both those within the practice and those in the surrounding areas. You should meet every member of the group ideally on several occasions. First impressions can be deceiving, especially if you are excited or the practice seems appealing to you.

You should respect and ideally enjoy the company of the doctors in the group. You will spend many hours with the team and fellow physicians, and yo will be expected to fit into the culture of the practice. If you see something you don’t like, as a new member and it is very difficult to change the rules to suit your needs or ambitions.

How is your prospective group regarded by the community at large? What is its reputation in the medical community? This key factor may be difficult for you to discover, but it’s important. You will have to ask a number of doctors and listen carefully. In these litigious times, people are reluctant to speak frankly, especially to say negative things.

You should ask members of the prospective group what they regard their reputation to be. If it does not match your ethics or sense of purpose, then consider another option. Group behavior becomes known in the medical community and all members of the group become connected in the eyes of doctors and the public they serve.

A tour of the office can reveal potential problems such as worn out furniture or out-of-date medical equipment. Consider this as a matter of cost, as well as whether the style and environment matches your ideal working environment.

One final factor to consider is the group’s business efficiency and overhead. A well-run group with lower overhead will reward you financially over the years. Financial stability of the group medical practice is typically tied to the management of overhead.