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Here's what happened to Richmond Emergency Physicians by dulac89

They have staffed most of the Emergency Depts in Richmond for decades. Well run group, very reasonable charges, have avoided all of the "surprise billing" controversy, good hospital citizenship by the partners (committees membership, donating to foundations, etc). They were told there was a mandatory health system wide safety meeting that all members of the group were required to attend (physician partners, physician employees, and PAs). They show up to the meeting at 8am, and the CEO of the health system with other senior leadership and says "Yeah, this isn't a safety meeting. This is a meeting to let you know that your contract is terminated in 90 days, and _______ will be taking over the contract."

And then a partition in the room opens, and there is a food spread, and executives from the new company are standing there saying "Hi, we've heard great things about you and would love for you to stay on with us".

The health system (Bon Secours/Mercy) had received a nice financial incentive to switch, and suddenly a 40 year old physician practice ceased to exist.