North Carolina Family-Owned Practice Shuts Down Due to Financial Difficulties

Quasar Family Medicine Closes Greenville Practice Due to Financial Struggles

In a surprising turn of events, Quasar Family Medicine announced the closure of its Greenville, North Carolina facility effective September 3, as reported by WITN. This latest development marks a significant shake-up in the local healthcare landscape, leaving many patients without the holistic care they have come to rely on.

Dr. Sean Feinberg, the founder and president of Quasar Family Medicine, explained that the decision was not made lightly. The clinic faced considerable financial hurdles while attempting to grow the business within a holistic family practice model. “We’ve been working to make the practice financially viable despite significant challenges. Our team has been relentless in trying to operate the practice in line with our core values and to make it financially sustainable,” Dr. Feinberg stated in a news release disseminated to Becker’s.

Quasar Family Medicine took over the Greenville practice from Carolina East Family Medicine in December 2023, intending to introduce a patient-centered, value-based care model. This approach is designed to prioritize the needs and preferences of patients in a more personalized manner, ensuring that they receive comprehensive and empathetic healthcare. However, despite these noble intentions, the practice has struggled to find financial footing.

The Rise and Fall of Quasar Family Medicine

The acquisition by Quasar was initially met with optimism among local residents who appreciated the focus on holistic and patient-centric care. This model emphasizes the importance of treating the patient as a whole—considering emotional, social, and physical factors in their treatment.

Unfortunately, the challenges associated with the transition and the inherent costs of maintaining a comprehensive care model have proven to be formidable obstacles. Operating a practice under these principles not only requires a dedicated medical staff but also sustainable financial backing to cover overhead costs such as salaries, utilities, and medical supplies.

Financial viability is a major concern for many family medicine practices across the country. A study published by the American Academy of Family Physicians highlighted that many practices experience revenue struggles due to reimbursement challenges from insurance companies. Quasar’s closure in Greenville reflects a broader trend affecting the healthcare industry, where the financial sustainability of providing high-quality, personalized care is increasingly becoming a formidable challenge.

Impact on the Community

The closure of Quasar Family Medicine in Greenville will undoubtedly impact the local community, disrupting care for many patients who may now be forced to seek healthcare elsewhere. Patients who prefer a holistic approach may find it particularly challenging to locate alternative providers who can meet their specific needs.

For many, family medicine practices represent more than just a place to receive treatment; they are foundational to maintaining long-term health relationships and continuity of care. The loss of such a facility can create gaps in care, especially for patients with chronic conditions who require ongoing attention and management.

The Future of Family Medicine Practices

As family medicine practices navigate a tumultuous healthcare landscape, it raises questions about the future of holistic and patient-centered care in the region. What solutions exist to ensure that similar practices can thrive instead of shuttering their doors?

Some experts suggest that focusing on diversified revenue streams—such as telehealth services, wellness programs, and preventive care initiatives—could provide essential financial support while maintaining a focus on holistic care. Others advocate for partnerships with larger healthcare systems that can offer the financial backing needed without compromising the core values of personalized patient care.

Conclusion

The recent closure of Quasar Family Medicine’s Greenville office is a poignant reminder of the financial realities facing family practices. It serves as a clarion call for healthcare reform that supports holistic care models while ensuring financial sustainability. As patients seek alternative healthcare options, the community must come together to advocate for better solutions that prioritize patient needs without sacrificing the viability of local practices.

As we look forward, the healthcare landscape remains uncertain, but the importance of accessible, compassionate care must remain at the forefront of any discussion on the future of family medicine in North Carolina and beyond.