Instructional Course - Requires Course Pass or Individual Course Ticket, Additional Registration Required
The environment in which urologists practice has changed dramatically over the past few decades and the pace of this transformation is accelerating. Urologic practices were once generally comprised of small to medium sized groups and university-based academic practices. Increasingly, however, non-academic urology groups are coalescing and folding into larger and larger single or multispecialty practices, hospital-owned practices or medical groups owned and managed by large national entities such as Kaiser Permanente. Additionally, university-based academic practices are now forming extensive networks, aligning with or acquiring community urology practices and consolidating their clinical practice on a regional basis. Finally, private equity investment groups are monetizing, acquiring and coalescing individual urology practices, fundamentally altering the compensation structure of the practices and potentially impacting patterns of care in the surrounding urologic community.
These developments have radically altered how urologists are compensated, how patients are referred, the logistics of joining or leaving a practice, opportunities for professional development and a host of other factors that relate directly to personal satisfaction, quality of life and professional longevity. In many instances, urologists who are joining a practice or negotiating a change in their practice model find themselves pitted against business professionals who have a great deal of experience and extensive financial resources at their disposal.
This course will discuss the changing terrain of urologic practice with an emphasis on the risks and advantages inherent in each of the major employment models. We will also discuss typical methods of calculating and negotiating professional compensation, how the value of existing practices can be assessed, how non-competition clauses may enter into employment negotiations and what to look for when considering a merger or acquisition of your urology practice. We will also discuss what is driving the increasing influence of private equity acquisition in the urologic community and identify issues to be aware of when negotiating with private investment groups.
The course should be of interest to practicing urologists who are considering their employment options and want to gain a clearer understanding of current and future trends in clinical urology as well as urology residents who are evaluating employment opportunities. The course should also be helpful to academic urologists who are seeking to expand their clinical programs into a community setting.