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Internal Medicine Associates: The Going Concern of Independent Physician Practices in an Era of Healthcare Reform

Fri, April 28, 1:45 to 3:25pm, Hilton Miami Downtown, TBA

Abstract

Internal Medicine Associates is based on the real situation faced by many independent physician practices across the country. Following legislation in which Medicare fee schedule cuts threaten the bottom line, coupled with increasing expenses and malpractice insurance rates, rapidly escalating technology requirements, the shift from a volume- to value-based business model, uncertainty surrounding the Affordable Care Act, and the advent of a new generation of physicians who have different work and lifestyle expectations, the practice must evaluate their ability to continue as a going concern. Students assume the role of a consultant called upon to advise the client. They encounter a situation in which financial, operational, and strategic factors must be carefully considered. The case is suitable for use in: undergraduate intermediate financial accounting or auditing courses; an entrepreneurial course in family business; an introductory financial accounting class at the M.B.A. or E.M.B.A. level, or a course addressing healthcare financial management. The case further provides students with an understanding of healthcare payment models, meaningful use of electronic health records, the financial and strategic impact of healthcare reform, and business risk

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