Ophthalmology Business

MAR 2014

Ophthalmology Business is focused on business topics relevant to the entrepreneurial ophthalmologist. It offers editorial, opinion, and practical tips for physicians running an ophthalmic practice. It is a companion publication of EyeWorld.

Issue link: http://digital.ophthalmologybusiness.org/i/273499

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Page 7 of 27

8 Ophth almo logy Business • March 2014 by William B. Rabourn Jr. Important questions for important decisions Y o u're an ophthalmol- ogist in practice for many years, and during that time, you have seen many changes. With roughly 80% of cataract surgery now taking place in ambulatory surgery centers (ASCs), you probably perform most or all of your cataract procedures in an ASC; you may even have an ownership interest in that ASC. As necessary, you have invested in new technolo- gy and adapted your practice to new requirements imposed by insurers and government regulation. If you perceive the rate of change as accelerating these days, you are not alone. Electronic health records (EHR), the Affordable Care Act, and new ICD-10 codes are prob- ably all on your plate right now, and you may not be prepared to make important decisions at this point in your career. If retirement is visible on your horizon, your choices will no doubt be different than if you were considering a longer timeline. While it may seem that the future is back- ing you into a corner, you do have options. You could: • Meet the challenges head on by continuing to invest in the practice as needed. • Opt out of the brave new world of medical practice by retiring early. • Sell your practice and let someone else worry about it. • Merge your practice and share the financial risk and responsibility for decision making with others. You may be too close to the situ- ation to make a wise choice in your own best interest. This would be a good time to seek an expert opinion from someone who has helped You may be too close to the situation to make a wise choice in your own best interest. continued on page 10 02-19_OB March 2104_Layout 1 2/19/14 11:07 AM Page 8

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