One of the biggest challenges in healthcare in recent years has been consolidation.
“Hospitals are merging, health plans are merging and there has been a huge flux of medical practices merging into hospital systems or being acquired by private equity,” says Will Latham, MBA, president, Latham Consulting Group. “At one point in time, people thought there weren’t going to be any independent practices out there. ... In the 1990s, there was a prediction that there would be five big medical healthcare corporations and they would own all hospitals and employ every physician. Of course, that didn’t happen.”
Latham started working almost exclusively with medical groups in 1988, and his focus today is in aiding groups in developing strategic plans, assisting in merger processes and helping restructure group governance. In doing so, he sees the “chaos” inherent to navigating this wave of consolidation.