Resources for Surgeons in Private/Small Business Practice

Rewards and Frustrations of Rural Surgery Practice

By Michael Sarap, MD, FACS, and Alisha D. Reiss, MD, FACS

Nearly 60 million people reside in rural America, while only 10% of US general surgeons are providing care for these individuals. Michael Sarap, MD, FACS, and Alisha D. Reiss, MD, FACS, shares the rewards and frustrations of being a practicing rural surgeon as well as how the ACS is helping support rural surgeons.

Surgeon's Guide to Selling a Practice

By Bhagwan Satiani, MD, MBA, FACHE(R), FACS, and Jessica L. Bailey-Wheaton, Esq.

While the life cycle of a surgical practice may vary, many surgeons at some point will consider selling all or part of their practice. The average age of retirement in the United States is 64 years old. Other than retirement, there are several reasons for selling a practice, including the owner's wishes to grow, financial reasons, or burnout. The Surgeon's Guide to Selling a Practice module features a video and white paper that both provides tips and considerations when considering selling a practice. 

Surgeon's Guide to Buying a Practice

By Bhagwan Satiani, MD, MBA, FACHE(R), FACS, and Jessica L. Bailey-Wheaton, Esq.

Owning a private practice offers many benefits for surgeons, including clinical autonomy, adaptability to the changing landscape, closer relationships with patients, and more. If you are considering buying a practice, factors such as the practice type and culture (if buying a share in the practice), geographic location, patient population, and size specific to the surgical subspecialty are important to consider. The Surgeon's Guide to Buying a Practice module features a video and white paper that both provides tips and considerations when buying a practice. 

Considerations for Closing a Practice

When closing a medical practice, one must engage with numerous entities and consider various components to ensure a smooth transition. The ACS provides resources and answers to common questions to help in this process. 

ACS Resources for the Practicing Surgeon, Volume II: The Private Practice Surgeon

While many markets continue to see increases in the institutional employment of physicians, there still remains a substantial number of surgeons in private practice, and many of those surgeons are operating successfully in that environment. How do they do it? What is the "secret sauce" that helps them maintain a successful business? The ACS Division of Advocacy and Health Policy (DAHP), along with the General Surgery Coding and Reimbursement Committee, collaborated with Fellows and practice management experts to capture valuable lessons, tips, and insights that can help surgeons thrive in private practice. This primer provides an overview of various private practice business arrangements, financial management and revenue cycle processes, relevant health care laws and rules, and methods to ensure the ongoing prosperity of a practice.

ACS Resources for the Practicing Surgeon, Volume III: Contracting with Private Payors

The days when one could enter the practice of surgery with only a passing knowledge of the business climate and extensive regulations that come with running a surgical practice are long gone. The ACS Division of Advocacy and Health Policy (DAHP), along with the Practice Protection Committee, collaborated with Fellows and experts in health law, managed care, and revenue cycle to highlight some of the important economic principles underlying health insurance markets, which are essential for any surgeon to understand when entering into and negotiating contracts with private payors on behalf of their practice. This primer provides guidance aimed at helping Fellows develop productive relationships with payors, evaluate insurance contract agreements, and improve practice management processes to optimize reimbursement from commercial health plans.