Mission |
Patient care; running a successful business |
Multiple, including patient care, teaching, research, service |
Governance |
Flat; usually a doctor-owned corporation with all owners equal; majority vote of shareholder settles an issue |
Hierarchical; multiple layers between physician and ultimate authority |
Collegial relationships |
Referring doctors and specialists |
Referring doctors plus institutional partners and national collaborations |
Finances |
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Revenue |
Charges for patient care visits, chemotherapy drugs, chemotherapy administration; ancillary services such as laboratory tests, imaging, clinical trial income, and other sources possible |
Public and private grants, patient care, state support, philanthropy, and sometimes hospital; faculty practice plans may incorporate elements of private practice |
Expenses |
Employees, space, chemotherapy drugs, and business expenses |
Similar but (usually) without pharmaceuticals; services and space support shared with others at medical center |
Margin |
Apportioned among owners |
“Taxed” and shared at multiple levels to support the multiple missions |
Reputation |
Local |
Local and national |