Practice Management Summit to Address Changes in CT Surgical Practice

Vinay Badhwar, MD | Chair, Workforce on Practice Management

STS News, Winter 2014 -- The current health care environment is in the midst of major changes that may herald a shift in the practice and delivery of cardiothoracic surgery. Broad activity in hospital acquisition of US physician practices over the last 12 months has spawned substantial increases in the numbers of newly employed cardiologists, general surgeons, primary care providers, hospitalists, and cardiothoracic surgeons. Cardiothoracic surgical employment has surpassed 50% and continues to rise.

Alternative arrangements just short of employment are also being made with health systems, such as co-management, where surgeons enter into an exclusive arrangement with a hospital while keeping their autonomy intact. Regardless of the arrangement—co-management or full employment—the issue of how to judge fair market evaluation is ever present. How is fair market valuation performed, and how do you know your practice or personal value? Come to the Practice Management Summit at the STS 50th Annual Meeting in Orlando, where this will be discussed.

The Affordable Care Act and the reformation of the Sustainable Growth Rate (SGR) are key issues to the very viability of our future practices and the health care system as a whole. The SGR and Medicare debt scenarios require some guidance and direction. As part of the Summit, the Society’s Immediate Past President, Jeffrey B. Rich, MD, will explain the SGR proposals currently in Congress and describe how they may impact CT surgery.

Additional key topics that will be discussed at the Practice Management Summit include:

• New ICD-10 codes;
• An important update on STS Public Reporting; and
• Lessons for navigating a cardiac service line as a newly minted employee in the important hospital infrastructure.

Given the increased demand and attendance in recent years, the Summit’s content has been expanded to better suit attendee needs. The Practice Management Summit will be held on Sunday, January 26, from 7:50 a.m. to 12:00 p.m. The topics addressed will be relevant to physicians in either academic or private practice, as well as to practice managers/administrators. Our practice administration colleagues are encouraged to attend, and special registration provisions, such as the option of a Sunday-only pass, have been made to welcome their participation.

As always, the focus of the Practice Management Summit is to facilitate a vibrant and open discussion with ample time set aside for questions. While onsite registration is possible, online pre-registration for this important ticketed event at www.sts.org/annualmeeting is strongly encouraged. The Workforce on Practice Management looks forward to your participation and welcomes your discussion.

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