Independent Heartbeats:
Welcome to your monthly pulse check on all things independent cardiology.
How is your summer going? At CardioOne, we’ve been busier than ever. Last month, we welcomed our newest practice partner, CardioNow, our second group to transition from hospital-owned to independent.
From our vantage point, it’s clear that cardiologists nationwide are ready to reclaim their clinical autonomy. But you wouldn’t know it by scrolling through your news feed. Grim headlines this summer have painted private practice as “dying” and “unsustainable.”
In the field, we see a different story. Independent cardiology practices are finding creative solutions to financial challenges, regaining control of their destiny, adding new value-based care agreements, and strengthening patient care.
Let’s look at this month’s top headlines and explain why they don’t tell the whole story.
What Everyone’s Talking About
- At a glance: This recap of a recent AMA Policy Research Paper warns of a “dire threat” to private practices, citing data showing that the percentage of physicians in private practice dropped from 60.1% in 2012 to 42.2% in 2024
- Key takeaway: While the report is right about the numbers, it’s wrong about the momentum. Independent practice is on the verge of a comeback, driven by cardiologists’ widespread dissatisfaction with hospital employment. My latest blog post explains 5 reasons why independent practice is thriving, not dying.
- At a glance: This Cardiovascular Business article offers a balanced view on the “great PE debate” in healthcare, spotlighting the pros (additional capital and organizational know-how) with the cons (business imperatives that may conflict with optimal patient care). A core finding: patient-reported care experience scores have fallen following PE takeovers of U.S. hospitals.
- Key takeaway: Regardless of whether a hospital or PE firm owns a practice, physicians ultimately end up with less control over their own destiny than if they choose independence. This article offers some of the new realities facing employed cardiologists and how to combat them.
- At a glance: Harsh economic realities force many independent cardiology practices to operate very lean, but these training tips from Physicians Practices can help your practice’s new hires become more productive faster. Two of our favorites tips: write an onboarding playbook and pair each newcomer with a seasoned mentor.
- Key takeaway: As we enter summer vacation season, it’s also wise to cross-train staff so key roles don’t wind up empty while employees are out of the office. This simple five-step approach can help practices implement cross-training successfully.
- At a glance: This Black Book Research survey found that 70% of independent physicians do not expect to maintain autonomy beyond the next 18 months without major changes. Steps practices are taking to weather the storm, say survey respondents:
- Signing new value-based care contracts (28%)
- Outsourcing key administrative and revenue cycle functions (24%)
- Joining independent physician associations (IPAs), management services organizations (MSOs), and accountable care organizations (ACOs) (16%)
- Key takeaway: This is exactly why we built CardioOne: to give independent cardiologists support with administrative tasks and additional leverage in the shift to value-based care. One of the biggest hurdles for independent practices is answering this question: “I’m losing money, but I don’t know where.” Start finding answers with these 5 revenue cycle management challenges most practices overlook.
- At a glance: This MGMA Stat poll reveals that medical assistants (MAs) are the hardest role to fill in 2025. The talent crunch won’t end soon; MA demand is expected to grow 15% faster than the average for all jobs through 2033.
- Key takeaway: Independent practices may not be able to match the MA salaries of hospital-owned groups, but they can gain an edge by creating an empowering practice culture. Here’s our step-by-step guide to attracting top MA talent and building loyalty with recognition programs that make MAs feel appreciated.
CardioOne in the News
Meet CardioNow in Lynwood, Wash., a group of five physicians who left hospital employment. Why did they choose to partner with CardioOne? “What I was trying to do by myself — they solved all of that,” their CEO, Mahesh Mulumudi, MD, told Becker’s.
Want to know the tradeoffs between employment and independence? Listen to this MedAxiom HeartTalk podcast featuring our own Alex Struck, Chief Growth Officer, and Dan Jenson, Chief Financial Officer for actionable tips on how to reclaim autonomy while maintaining financial and operational sustainability.
Referrals and word-of-mouth alone won’t grow your practice today. The new growth engine: an integrated digital marketing strategy. Find out how to win online and learn the tactics that helped one independent practice attract 60% more new patients.