S.C. hospitals are part of national practice acquisition trend

It’s happening in South Carolina and across the nation—hospitals are acquiring more physician practices as they prepare to move away from a fee-for-service reimbursement system that pays for services and treatments to one that focuses more on quality outcomes and containing costs. South Carolina’s Greenville Health System has 750 employed physicians and another 250 nurse practitioners and physician assistants. Bon Secours St. Francis has about 250 employed physicians and expects to hire more, according to The State Media Co. of Columbia, S.C.

The Greenville County Medical Society estimates that 70% of its 900 members are employed by a hospital now. Though the trend has been gaining steam, some experts say the push may be driving up healthcare costs. However, hospitals and other experts say it’s an investment in a new way of doing business that will eventually lead to smaller cost increases.