Dear Health System Executive: Imagine your patients’ surprise when they learn the emergency physicians at your hospital are owned by private equity! And when they want to learn more and Google, “PE-firms buying up emergency physicians” the search results are extremely concerning.

Beyond this surprise, the message clearly tells us that we’re overpaying for this care and it’s not because of higher quality. I also learned that these “owned” emergency physicians and anesthesiologists have some of the highest turnover rates in medicine and very low practitioner morale compared to other practice models. How is this in anyone’s best interest?

Are you comfortable with PE firms making decisions in your hospital? These decisions greatly impact your facility’s reputation and are made by the same vendors that spawned the No Surprises Act (NSA) with their predatory fee schedules and billing practices. One of the largest PE-owned physician vendors went through bankruptcy reorganization in 2023. Another failed on a 2-weeks’ notice creating absolute chaos for hundreds of hospitals and thousands of physicians and other providers.

The PE-backed firms left standing are struggling to manage their enormous debt. With revenue seemingly capped by the NSA, only expenses are left for them to “manage”. And since most of these departments have already had their providers “managed” to near exhaustion levels with staffing and compensation cutbacks, what’s next? We’ve reached a critical tipping point.

Hospital executives are in the unique position to put an end to this madness. Practice Wax will introduce you to outstanding physician leaders in your area that are seeking new locations and life opportunities for the owner-operator physicians in their practice. No more big business with hidden agendas and ulterior motives; just a physician partner focused on outstanding patient experiences and a safe place to practice at your hospital.

Are you interested in identifying a local group with which to contract?

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