Here's a fun fill in the dots...
Envision (EMCare) owns both Hospitalists and Anesthesia. Besides HCA, they're like the Walmart of EM...take small, rural contracts, supplement salaries with other campuses in order to pay them. It's a boom on paper for hospitals, for reasons noted above. Until they see the quality of doctors is often (though not always) lacking. To compensate, they're now paying for ED Residnency programs w/ HCA (a future big trend, given that CMS is stuck in 1991 dollars to fund residencies)
TeamHealth same. They're owned by one of the largest
private equity firms in the world.
For fun, see who owns share (though not majority) USAntesthesia Partners. See if you can notice a link between them and another group noted throughout this thread (besides eerily similar name). Also note emergency medicine is not in name...prob. not an accident.
SDG's are a dying bread. On paper, an SDG can't compete with a large, private equity run managment firm. If you don't have a multiple-hospital group with a kick-ass billing/management, chances are your SDG will either eventually (1) lose contract or (2) be bought out (eg for the pseudo-SDG's which are actually owned by groups' senior partners, see FEP). Hospital employment is equally bad--if you think admin is hard on your group, wait till they are your actual employer. Soon to be grads take note--be very wary of doing multiple years of sweat equity, as the risk increases on a yearly basis and you probably won't get the difference in pay back. Forget that "40 year history with hospital" non-sense, as this example shows. Corporate america is taking over medicine.
I could see a situation where groups that own FSED's can survive, but otherwise, small SDG's are in big trouble, as they just can't compete with the fire-power that the big groups bring. Skills count for something, but administrators think dollars/sense, not relationships, and management firms with links to Wallstreet will bring bazookas to your knife contract fight.
Welcome to the corporate raid of medicine. It was only a matter of time b/4 they figured out there's lot of money to be made in medicine