Sustainable practice transition strategies could help alleviate burnout

AdobeStock_336202231 [Converted]

A recent study suggests that family practice physicians are especially at risk of experiencing physician burnout. Burnout is not only a mental health issue, it’s an economic one as well. Turnover and reduced clinical hours resulting from burnout costs an estimated $4.6 million a year in the U.S. 


Practice transitions contribute to burnout


Many physicians cite practice ownership transitions as a contributing factor to their overall burnout. Without the proper tools and planning, transitions can be stressful and economically challenging for all parties involved. 


When a provider leaves a practice, it’s often up to the remaining physicians to buy them out of their ownership share. Given that we’re currently experiencing an historic physician shortage, this often puts a substantial financial burden on these providers. It also places pressure on the organization’s cash flow, which for most, is already under significant strain. 


Sustainable solutions


MaxWorth helps create financially sustainable transition strategies for medical practices. This helps to ease financial strain during times of transition, and it allows providers to retire with peace of mind. 


Sustainable transition strategies are also important for the continuity of care across the country. Keeping family practices independent and financially stable helps ensure that our communities will continue to have the access to care they depend on. 



If you would like to receive industry updates and articles like the one you see here, complete the form below

Something went wrong. Please check your entries and try again.

Want to Learn More?

The Anonymous Physician on Retention

The Anonymous Physician:  Physician Retention The Anonymous Physician column provides physicians with a platform to discuss pressing issues in healthcare. From time to time, we pose a question to a doctor, or a group of doctors, and post their answers anonymously, giving them the freedom to be frank and uninhibited.…

Aligning executive compensation can aid in hospitals’ recovery

Aligning executive compensation can aid in hospitals’ recovery Healthcare organizations are looking to their boards to help guide them through the transition into a post-pandemic world. Becker’s recently highlighted the top five concerns healthcare boards have as they plan for recovery and a return to normal. One of them is…

Physician input leads to fairness

Physician input leads to fairness Hospitals often rely on Fair Market Value (FMV) surveys to help them determine how much to pay physicians for services like taking unassigned call. While these surveys are a good place to start, they’re also problematic. Most of the hospitals we visit would only be…

Physician retention hinges on communication

Physician retention hinges on communication The rise in hospital employment, combined with physician shortages, has made physician recruitment more competitive than ever for hospitals. Many are struggling to find ways to distinguish themselves in a crowded and heavily regulated market.    Given the amount of resources going toward recruitment, it…