Physician practices are facing mounting challenges to stay open as reimbursement rates stagnate and operating costs continue to rise.
Here are six physician practice closures Becker’s reported on in the first quarter:
1. Watertown, N.Y.-based Samaritan Health closed its pain management center Feb. 28. The center, which has 15 employees and one contracted physician, is no longer “meeting the organization’s goals,” a Jan. 28 news release from the health system said
2. Jordan Healthcare, a medical practice in Southwick, Mass., closed Jan. 21 following issues with insurance companies.
“This decision comes after much reflection and is driven by circumstances beyond our control, including ongoing constraints from health insurance companies,” the practice wrote on its Facebook page, according to MassLive.
3. Mobile-based Alabama Orthopaedic Clinic closed on April 11. CEO Barry Porter attributed the closure to multiple challenges, including physician retirements, difficulties in recruiting subspecialists and escalating operational costs.
4. Garden State Orthopedics, a Hoboken, N.J.-based orthopedic practice specializing in sports medicine, closed permanently on Jan. 27 after more than three decades in operation. According to the practice administrator, the closure stemmed from an expired lease and the inability to secure a suitable new location.
5. Pinehurst (N.C.) Radiology Associates closed indefinitely following a cyberattack. The practice has launched an investigation into the security breach, though details regarding the nature and source of the attack remain unclear.
6. Tallahassee Primary Care Associates closed April 25 after nearly 30 years. In January, the practice announced that “select physicians” would be departing, and that other departures and service line closures would also potentially take place.
The post 6 physician practice closures in Q1 appeared first on Becker’s ASC.
