Ep 177 Private equity and medicine with Dr. Adrienne Towson
Summary
In this interview, Dr. Adrienne Towson, an orthopedic surgeon with 21 years of experience, shared her professional journey and insights about the changing landscape of healthcare. Dr. Towson discussed her career progression from hospital employment to private practice, and ultimately to a private equity-backed management company. She described her early career challenges as a single mother with two young children, and her evolution through various practice models. Dr. Towson expressed concerns about the impact of private equity on healthcare delivery, particularly regarding patient care and physician autonomy. She emphasized the importance of maintaining the patient-physician relationship and discussed her plans to transition from her current practice while remaining committed to healthcare reform efforts. The conversation highlighted the challenges faced by physicians in the current healthcare system, including insurance company restrictions, administrative burdens, and the need for systemic change.
Chapters
Introduction and Background of Dr. Towson
Dr. Towson introduced herself as an orthopedic surgeon with 21 years of experience, having completed her medical training and residency in Philadelphia and Pittsburgh. She described her career journey from hospital employment to private practice, and eventually to a private equity-backed management company.
Early Career and Hospital Employment
Dr. Towson explained her decision to join a hospital-employed position shortly after fellowship, citing proximity to home and support for her young children as key factors. She described the challenges of being the only orthopedic surgeon at the hospital and managing on-call responsibilities.
Transition to Private Practice
Dr. Towson discussed her move to a private practice where she became the fifth surgeon in a well-established group. She highlighted the positive aspects of the practice, including supportive colleagues and a family-like atmosphere, as well as the group's commitment to patient care.
Evolution to Super Group and Private Equity
Dr. Towson described the transition to a 'super group' model, where smaller practices combined for better negotiating power and ancillary services. She discussed the benefits of this model, including improved insurance contracts and the establishment of physical therapy and MRI services.
Concerns About Private Equity Ownership
Dr. Towson expressed concerns about the impact of private equity on healthcare delivery, describing how these firms typically aim to improve productivity for short-term profit before selling. She shared her experience of how the practice's operations and patient care quality have been affected since the acquisition.
Future Plans and Healthcare Reform Involvement
Dr. Towson discussed her plans to leave her current practice in June and pursue locum tenens work while remaining active in healthcare reform efforts. She expressed her desire to return to private practice in her community within one to two years, either in a small boutique practice or potentially reuniting with former colleagues.
Action Items
Dr. Towson plans to complete her current practice commitment by June and begin locum tenens assignments
Dr. Towson will continue working with healthcare reform organizations while exploring temporary assignments
Dr. Towson aims to return to her community in one to two years, either in a small private practice or potentially reuniting with former colleagues
