Hartford Business Journal

21 HARTFORDBUSINESS.COM | March 14, 2022 "Billing is complex and human resources as well," Trusler added. "And, finding the talent and maintaining staff is also tough these days." In addition, Trusler said, with a larger system, physicians have more negotiating power with insurance companies. The downsides for physicians, Trusler said, "is the loss of independence and autonomy with the decision-making process," but many feel like they have no choice. "When I speak to them, they are telling me that there is that burnout factor of trying to manage all of the administrative responsibilities and, instead, they want to focus on seeing their patients," Trusler said. Small practice appeal While many doctors are joining larger groups, others still want their independence. That includes Dr. Khuram Ghumman of the East Granby Family Practice, which has 12 employees, including two part- time doctors and four nurse practitioners. Ironically, Ghumman started his career working at a larger health system, but he said he'd never go back because there is something special and personal about the care small practices can offer. "It's very challenging for small practices to survive and thrive," Ghumman acknowledged. "I still think that you can offer better care in a smaller system. I want to spend time with my patients. I do not want to practice someone else's policies. I want to practice good medicine." Ghumman is a member of the Connecticut State Medical Society (CSMS), which has been warning that it's getting harder to recruit doctors to the state due to the high costs of living, regulatory issues and high medical malpractice insurance costs. That recruitment problem hits smaller practices particularly hard. "I just do not have the same resources as a larger system to attract new physicians," Ghumman said. "I've been actively recruiting for the last five years and it's been a problem for many small practices; a survival problem. The last doctor I hired was in 2016. I'm looking to hire two more, like tomorrow. I think it's just more attractive for them to go to a larger practice. There may be better outreach and they might be offering them more money." Talent woes Dr. Ronald Adelman, president of the CSMS and an ophthalmologist at Yale School of Khuram Ghumman 0 10 20 30 40 50 60 70 80 62.2% 63.8% 64.5% 65.8% 69.3% Jan. 2019 July 2019 Jan. 2020 July 2020 Jan. 2021 Source: Physicians Advocacy Institute Percent Of U.S. Physicians Employed By Hospitals Or Corporate Entities In 2019-21 Medicine, said "there is not a one- size-fits-all" physician practice model. Adelman noted that Connecticut ranked No. 47 in the country in 2021 for retaining physicians trained in- state, according to the Association of American Medical Colleges. He also has seen first-hand young doctors' desires to join larger health networks, he said. "Of the last 20 [young] people I trained, 19 joined larger groups," Adelman said. "Younger physicians are just interested today in finding a job and joining a group, rather than starting their own group." Huntington said the physician consolidation trend shows no signs of letting up. "It will be harder and harder to own a small independent physicians practice with the increasing costs — labor costs, IT costs and regulations," she said. "There is not an end in sight." Putting You on the Path to Success…and to the CPA! MS in Accounting (MSA) Ideal for working professionals: • Flexible, 30 credit, 10 course program • Aligned with CPA academic standards • Curriculum capitalizes on emerging technological trends and analytics • Graduates hired by local, regional, national, and international firms, as well as large public corporations • No GMAT/GRE required in most cases SCHOOL OF BUSINESS The CCSU School of Business is an accredited member of AACSB International – The Association to Advance Collegiate Schools of Business. APPLY TODAY ccsu.edu/apply LEARN MORE ccsu.edu/msa Dr. Ronald Adelman

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