What is a Physician Owned Hospital?
A physician-owned hospital is a hospital-owned and operated by physicians. Generally, it is a group of physicians that own the hospital and regulate its operation. They have the final say in the staffing and the overall function of the hospital. Did you know that Treasure Valley Hospital is a physician-owned hospital? Many larger cities have hospital systems that own several hospitals but are encumbered by red tape, and frankly, many paid staff members are not necessarily vital.
The Benefits
Physician owned hospitals are beneficial to residents for many reasons. Usually, the first reason is less financial and insurance aggravation. A physician-run hospital will dictate what insurances are accepted because it's necessary, but can easily decide to treat an uninsured or underinsured individual. They do not have to rely on financial bigwigs or corporate heads to decide who or what can be treated at the facility. This may seem to generate more costs, but in effect, it reduces costs by eliminating wasteful executives with large salaries and bonuses.
The Costs
Saving money is important in running a hospital, of course. Physician-run hospitals understand that unnecessary testing is wasteful, but at least they are involved in the decision. Physicians at public and system-run hospitals get the most frustrated when they are told by nonphysicians what tests or diagnostics they can or cannot run. It is very easy to begin to resent teams of individuals who are only looking out for financial benefit without much thought to helping the community medically.
Patient Care
Physician run hospitals can take more time with patients and not worry about how much time is being spent with each patient. Doctors understand that most patient visits to hospitals are not resolved in 15 minutes or less. Listening to the patient's complaints, a physical exam, and, at times, the concerns of family, are vital to a diagnosis.