David Bernstein, MD
Keeping a medical practice strong and independent in today’s turbulent environment can be quite challenging. More and more independent practices are struggling to remain viable, and some have chosen to either close or sell their practice to hospital systems or other institutions. At Woodlands Medical Specialists in Pensacola, Florida, we found another viable path to remain independent. We formed a collaborative relationship with The US Oncology Network, one of the nation’s largest networks of integrated, community-based oncology practices.
With value-based care coming to the forefront, we are confronting even more challenges. We need capital to invest in critical resources required for new care and reimbursement models, especially analytic technologies. We also need better access to reasonably priced oncology drugs. Growing regulations and escalating costs have made securing these lifesaving drugs for our patients an ongoing battle.
Collaboration With The US Oncology Network
We considered many avenues to raise needed capital and address other concerns, and we finally decided expansion would be our best option. Just as we began looking for a solution that would meet our needs, we were approached by The US Oncology Network. They were interested in expanding their footprint in Florida and were attracted to our business model for multispecialty care. During our discussions, they presented an affiliation arrangement that was exactly what we were seeking—a collaboration and not a takeover.
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