Is it time to add another physician? We have asked this question quite a bit recently, especially on busy days, which seem to be happening more often. Because adding another full-time physician would be expensive-especially if we guessed wrong-we wanted to make sure that it really was time to expand.
Is it time to add another physician? We have asked this question quite a bit recently, especially on busy days, which seem to be happening more often. Because adding another full-time physician would be expensive-especially if we guessed wrong-we wanted to make sure that it really was time to expand.
Judging from how many studies we were reading per shift and per radiologist, it seemed that the workload could justify another physician. Looking at this work in more detail however, we quickly realized that not all of it was of equal value to us.
Our group has multiple lines of business; some are hospital-based and some are direct contract or teleradiology. Only a careful look at all of our contracts would help us figure out if we might be better off deleting some of that business instead of adding a physician to help handle it. Here’s what we looked at and what we found in our review:
Lastly, we looked at qualitative issues related to each contract. For example, we considered it a negative if the partner we contracted with called us often or made excessive demands.
In the end we kept all of our current contracts, but we gained a lot of insight into how we will approach each line of business in future negotiations. Contracts can be great, but if the business they bring has a high labor cost or substantial lifestyle impact, or if they send work that does not match your staffing, are with a low-paying partner, raise back-office expenses, have no potential to grow, and do not link you to referring MDs with whom you have a relationship, then what is the true value of that agreement? You may want to eliminate that business and the stress it is causing you instead of hiring a new full-time MD and dealing with the potential financial stress and uncertainty of an ill-timed hire.
Dr. Woodcock is medical director for MRI at St. Joseph’s Hospital in Atlanta. He is also a member of the executive board of Atlanta Radiology Consultants and is the practice’s executive officer for finance. He may be reached at rjwatlrad@gmail.com .
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