Physicians Private Practice – Overview
Whether you have recently graduated from medical school or you have been practicing as a health practitioner for a while, the decision to work in a hospital or transition into private practice can be a hard one.
Each has its advantages and disadvantages but surprisingly enough, there is no significant difference when it comes to the income earned from both. That then means that the pay cannot be the determining factor when trying to decide where to practice.
Most physicians would opt to work in a hospital because it is harder to establish a private practice but here are some reasons why you should consider getting into private practice.
1. You Get More Autonomy
If there is one thing that you know as a physician, it is that in a hospital, you are required to adhere to guidelines and regulations when it comes to your service provision. The same is not true when it comes to private practice.
For instance, you will have complete autonomy regarding decisions like whether to offer payment plan options or which software to use for your operations. In a hospital, you have little control over how things run.
2. You get to Learn Across the Board
As a private practice health practitioner, you have the chance to learn beyond clinical work. That’s because you will be able to expand your knowledge continuously as you learn about the various aspects of operating a business including finance, marketing, and management.
3. You Can Create your Preferred Work Culture
When you get into private practice, you automatically open yourself up to building your business from the ground up. That means that you get to set the tone on how you will care for your patients from the beginning rather than joining a working environment with an already established culture.
4. You get Job Security
Generally, being in private practice means job security for you. That’s because you are either a partner or the boss unlike in a hospital where you are subject to your employer who can terminate employment under certain circumstances.
That said, you want to note that private practice earnings usually fluctuate depending on how many patients you get.
5. You get to Provide Quality of Care
This may come as a surprise but private practices generally provide better quality services and health care compared to larger health care facilities. This is because private practice physicians have more autonomy just as we have previously mentioned.
Because they are not under the bureaucracy controlling hospitals, they can make decisions in patients’ best interest.
As a private practice healthcare worker, you get to advocate for your patients and administer treatment based on your professional expertise.
Above all, you have the same access to the same resources like imaging and testing just like hospitals do.
6. You Set your Work Hours
One of the main things that workers in the public health care system detest is the exhausting hospital shifts. In private practice, you get to set your work hours as well as decide when to take days off or go on holiday.
This leads to increased productivity because you will be less stressed and tired.
7. You get to Build Meaningful Relationships
In the course of your private practice, you get the chance to foster relationships with your patients over time. This is because you will probably be the only one, they will come to for their medical needs unlike in hospitals where they deal with different physicians based on availability and changes in shifts.
8. Reduced Patient Costs
Hospitals and other large health care facilities have high operating costs that are imposed on patients. With your private practice, you can reduce these costs for your patients because you are in charge of the overhead and so you can control it.
Choosing between owning a private practice and earning depending on the number of patients you get or working in a hospital and getting a steady income can be hard.
Ultimately, it is a question of how much financial responsibility you are willing to take on as well as what kind of environment you want to work in.
That said, being in private practice comes with a host of benefits and it is certainly worth considering.