How Private Practices in Tennessee Can Get Ahead

Est. Reading Time: 3 Minutes

In our “Physician Voices” podcast series, doctors share their unique stories, expert perspectives, and helpful insights. In this episode, we welcome Ty Babcock, MD, who is board-certified in emergency medicine and the CEO of Complete Health Partners, which has two locations in and around Nashville and is part of Privia Medical Group — Tennessee. Our conversation examines the challenges private practices in Tennessee face, such as getting started with value-based care, finding a community of engaged doctors, and improving already high-performing practices’ operations.

This excerpt of our conversation is edited for length and clarity. You can listen to the full episode below and find us on your preferred platform.

Q: As a graduate of Vanderbilt’s medical school and local practice owner, you certainly have a deep understanding of the issues impacting private practices in Tennessee. What were the main challenges your practice — and likely others in the region — faced before partnering with Privia?

Prior to joining Privia, we had declining or stagnant reimbursements, which is not uncommon for a lot of independent practices. We also have this value-based care landscape that’s incredibly complex and difficult to understand. And, specifically in our market and around Nashville, we’re small fish in a big pond; there are very few private practices in Tennessee. We found ourselves getting shut out of a lot of Medicare Advantage plans and even independent physician associations. So it was really hard to get a seat at the table, so to speak.

We’re moving into a risk-sharing environment. Knowing that’s the future but then seeing yourself either locked out or unsure how to do that — or both — made it hard. It was scary to look at the next five or six years wondering, “Okay, how do we survive in this environment?” That’s when I felt like we needed to look for a partner.

 

Q: I can see how any single one of those challenges would lead you to consider a partner, but especially when you take them all together, a partner becomes a necessity. Once you started your search, what drew you to Privia?

We looked at a lot of different options. We knew we needed a partner and a way to organize with other physicians. But we were not looking to sell our practice, and we certainly weren’t interested in any private equity or venture capital ownership.

The fact that Privia was all about respecting the autonomy of physicians and our desire to own our own business was one of the most important aspects. At our practice, we feel like patient care should be driven by physicians, not by business people.

Privia’s mission is building physician-led medical groups to preserve the autonomy of private practice. I think a lot of companies pay lip service to that. But the fact that we found it to actually be true — from introductory conversations through onboarding and going live — has been refreshing. We as physicians know how to do the medical side of taking care of patients. But oftentimes the business aspects of practice are hard. Having a partner who can help but does not dictate how things are run and who does not value profits over the care of the patient has been refreshing and, I’d say, necessary.

 

Ty Babcock, MD, is board-certified in emergency medicine. In 2013, Dr. Babcock founded Complete Health Partners and, motivated by his passion for helping people improve their health and treating chronic disease through diet and lifestyle changes, obtained board certification for obesity medicine. Today, he runs two private practices in Tennessee. Outside the office, he enjoys lifting weights, watching football, and cooking barbecue.

Learn more about Privia Medical Group — Tennessee.

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