Can an FP buy an IM practice in any state?

[chiki124]

I have a quick question, does BC/BE Family Practitioner can buy a Internal Medicine private practice (out patient practice only) and work as a FP legally?? if yes, what are pros/cons like malpractice insurances, patient flow, any legal websites???

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[deleted87716]

I have a quick question, does BC/BE Family Practitioner can buy a Internal Medicine private practice (out patient practice only) and work as a FP legally?? if yes, what are pros/cons like malpractice insurances, patient flow, any legal websites???

Sure, why not? What are you concerned about? The only potential legal aspect would be to avoid advertising yourself as an internist if you're an FP (e.g, if the practice is called "Sunnyville Internal Medicine" when you buy it, I'd change the name to something like "Sunnyville Family Medicine" or "Sunnyville Medical Associates.") Aside from that sort of thing, there shouldn't be any real issues, aside from patient perception and confidence, which is more up to you than anything.

 

[chiki124]

OK, got it.. thanks for your quick reply..)

Sure, why not? What are you concerned about? The only potential legal aspect would be to avoid advertising yourself as an internist if you're an FP (e.g, if the practice is called "Sunnyville Internal Medicine" when you buy it, I'd change the name to something like "Sunnyville Family Medicine" or "Sunnyville Medical Associates.") Aside from that sort of thing, there shouldn't be any real issues, aside from patient perception and confidence, which is more up to you than anything.

 

[chiki124]

Sure, why not? What are you concerned about? The only potential legal aspect would be to avoid advertising yourself as an internist if you're an FP (e.g, if the practice is called "Sunnyville Internal Medicine" when you buy it, I'd change the name to something like "Sunnyville Family Medicine" or "Sunnyville Medical Associates.") Aside from that sort of thing, there shouldn't be any real issues, aside from patient perception and confidence, which is more up to you than anything.

As a follow up to the question above, the collections from the insurances can be differ between Family Practitioner vs Internal Medicine practitioner??? I know the insurances will reimburse lower for GP's vs FP (MD's)...any idea???

and I am sure IM practitioner can not see all the patients like FP can see...but if the bottom line makes different then who cares right ;-)))

appreciate your thoughts...

 

[deleted87716]

As a follow up to the question above, the collections from the insurances can be differ between Family Practitioner vs Internal Medicine practitioner??? I know the insurances will reimburse lower for GP's vs FP (MD's)...any idea???

It doesn't matter what field you're boarded in...if you're billing the same codes, you will be reimbursed exactly the same, at least as far as Medicare is concerned.

Commercial payers may extend different fee schedules to different specialties, but there probably won't be a huge difference, if any, between the primary care disciplines.

 

[chiki124]

It doesn't matter what field you're boarded in...if you're billing the same codes, you will be reimbursed exactly the same, at least as far as Medicare is concerned.

Commercial payers may extend different fee schedules to different specialties, but there probably won't be a huge difference, if any, between the primary care disciplines.

ok, thanks a lot...can I IM with few more quick question(s)...thanks..

 

[deleted87716]

ok, thanks a lot...can I IM with few more quick question(s)...thanks..

If it's possible to keep things in the forum where others could benefit from the answers, that would be preferable. Thanks!

 

[chiki124]

If it's possible to keep things in the forum where others could benefit from the answers, that would be preferable. Thanks!

Sure..thanks...I am just updating over here..

Quote:
Originally Posted by chiki124
Of course for the above two practices there might be so many variances that I need to compare why the difference is...
The difference is likely overhead. Two doctors will typically require more overhead (e.g., employees, square footage, etc.) than one. Coding accuracy could play a role, as well as the average complexity of each office visit. It's tough to say for certain with limited information.

Quote:
I heard If a FP's do a Paps test the insurer gets paid a different amount the same if some OB/GYN practitioner do the same test.
It's possible. Third-party payers can set their own fee schedules for different specialties.

Quote:
are u a physician who is running a practice??
Yes. I'm the managing physician at my site, part of a larger physician-run multispecialty group.

 

[dralex]

It doesn't matter what field you're boarded in...if you're billing the same codes, you will be reimbursed exactly the same, at least as far as Medicare is concerned.

This is absolutely correct.
Remember, your license is for the practice of medicine and surgery, nowhere is there mention of your specialty.
Specialty training and certification is a way to state that you officially completed training in a particular field.
Heck, as an FP you can start doing neurosurgery if you wanted to (you better know what you are doing though. You probably wouldn't get any OR provileges or get insurance reimbursement for this either, but you can do it legally)

 

[Doctor Peloncito]

I agree with KentW. As an aside, anyone can own a medical practice. You don't have to be a physician. I know a podiatrist who owns a huge multi-specialty clinic and employs upwards of 20 docs. If you practice medicine, you should advertise based on your training.