As a leader in specialty procedures, cardiology is a growing field that is in demand from patients, as well as from hospitals looking to acquire practices. While some cardiologists are interested in being employed by hospitals, about 67% others, according to a Price Water House Coopers 2011 Report, prefer the private practice route.

When looking at an ASHE 2010 Construction survey seen in the December issue of Health Facilities Management, 9% of hospitals are currently constructing cardiology service and department projects, and 10% of hospitals plan to build cardiology service and department projects in the next three years.

Not only are cardiac procedures and cardiology acquisitions attractive to hospitals because they are highly lucrative and generate profitable referrals, but a good cardiology department resonates especially well with the surrounding community. A strong cardiovascular department supports a strong hospital reputation which in turn increases patient volume. With aging baby boomers, and unfortunately, heart disease a very prevalent condition, the cardiology department at a hospital can have a large impact on how the community views a hospital.

3 Reasons to Consider Hospital Employment

Better Reimbursements:

Fearing loss of income is a very real threat for physicians, especially as Medicare reimbursements dwindle. Currently, Medicare often reimburses more for procedures and treatments performed at hospital owned facilities than same services performed at facilities owned by doctors.

Capital Advantage:

Being backed by a health system comes with benefits, such as capital resources, which allows for investment in new equipment, technology and information systems. Independent cardiologists, as well as other independent physicians, are entering into a new era where they’ll need to have the capital for new technology in order to say afloat.

Security:

As a private practice physician, impending healthcare reform changes and business management can be hassles, but as a hospital employee, those worries can be put to rest. For physicians seeking to protect their income and reduce financial pressures, hospital employment may be the preferred route. Hospitals, meanwhile, would like to foster relationships with physicians as healthcare delivery is evolving into an accountable-care model which rewards efficiency and care coordination.

While some autonomy may be lost, cardiologists looking for a steady paycheck, enhanced capital capabilities and more security might consider hospital employment.

James Ellis, CEO, Health Care Realty Development Company, is a nationally recognized successful real estate investor and developer of medical office properties with a comprehensive knowledge of sophisticated real estate transactions, cost effective designs, and efficient property management.

Aaron Razavi is Associate Marketing Director at Health Care Realty Development.

Visit their blog at http://www.hcrealty.com/medicalrealestatedevelopment/