When he joined his practice right out of residency, he was practicing exactly how he expected to. As a physician, he could take care of his complex patients, had flexibility in his schedule, and enjoyed autonomy in his practice. He relished the ability to make independent decisions and manage his time effectively to ensure the best care for his patients.
However, this ideal situation took a drastic turn when his practice was bought by private equity. Suddenly, he experienced a significant pay cut and faced relentless productivity pressures. The new management imposed strict guidelines and targets that prioritized quantity over quality, making it increasingly difficult for him to provide the level of care he believed in.
Moreover, the acquisition came with a non-compete clause that would have required him to move over 100 miles away from his current location to continue practicing. This clause threatened his professional and personal lives, as he was deeply rooted in his community. He felt constrained in every way, with limited options to regain the control and freedom he once had in his career.
The drastic changes left him disheartened and questioning the future of his profession under the growing influence of private equity in healthcare.
Wendy Dean is a psychiatrist.
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