128 Is Pediatric Private Practice Still Worth Buying? Chip Hart

Is Pediatric Private Practice Still Worth Buying? Insights from Industry Expert Chip Hart

This discussion with Chip Hart from the Physician's Computer Company (PCC) explores the viability and potential challenges of buying a pediatric private practice. Issues like the effect of private equity firms buying up practices and the potential pitfalls of inadequate business preparation for medical practitioners are discussed. Suggestions for doctors considering buying a practice include gaining business experience first and carefully evaluating the financial and operational aspects of the practice they plan to acquire. Hart argues that while independent pediatric practice remains viable for the foreseeable future, it requires significant dedication, planning, and business acumen to ensure success.

00:00 Introduction and Guest Arrival

00:28 Discussing the History of PCC

01:24 Reflections on Recent Events and Industry Trends

02:27 The Impact of Private Equity in Pediatric Practice

21:24 The Role of Hospitals and Medicaid in Healthcare

26:23 The Challenges of Starting a Practice

31:53 The Pros and Cons of Buying a Practice

35:03 Planning for Practice Transition

36:07 The Importance of Early Planning

37:07 The Power of Written Agreements

38:06 The Role of Emotion in Business

39:18 The Challenges of Practice Acquisition

40:36 The Value of Mentorship in Practice Transition

47:32 The Importance of Knowing Your Numbers

52:35 The Role of Technology in Practice Transition

59:21 Work-Life Balance in Different Practice Models

01:04:36 The Future of Independent Pediatric Practice