At a time of so much economic and demographic uncertainty, many doctors are considering practice acquisition strategies that are less “risky.” That is why there is a renewed interest in “Practice Franchises.”
Ultimately, a doctor will opt to purchase a practice that follows a marketing and management model that was developed by a management company or a doctor acting as a consultant, This video has both pros and cons to this idea.
Do I believe it can work? Certainly! But I believe that it is not a perfect solution. In nearly 40 years of consulting, I have rarely seen it work. It is not because the franchisers are incompetent or dishonest. It is because doctors have a deep-seated fear of being directed by another. They just love their independence. This trait can doom their efforts. Independence is a strong ethic in their lives.
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