This is a sorry day in our industry, to see a long-standing network of over 30 years go this way. Although, with the many negative press articles, a website specifically highlighting the issues and forum posts, it isn't altogether a surprise. Undoubtedly, any affected firm will feel uncertain about their future given the prior coverage and now this.
Openwork, 2Plan and LSL are strong offerings and businesses, but with very different propositions to Tenet, that said, I would urge any affected firms to listen to what they have to say before doing anything. Whatever it looks like, each firm principal will need to understand the changes imposed, the implications of the proposition changes and read the contracts fully, so they know what they are offering their customers and what terms are being offered to them individually, along with any covenants or penalties.
No-one has yet told me directly any detail of penalties, exit fees or run-off cover, but if this is the case, it needs to be fully understood before anyone takes any action.
It has to be said that many may see this as an opportunity to take stock of what they actually want, at the end of the day, this is an enforced change and if it doesn't suit their business model or values then they should look to change on their own terms. However, they must understand what is offered first before making a knee-jerk reaction.
Right now, every other network available will be in contact with Tenet AR's trying to lure them away, telling them they are the best network. Before making any move, any affected Tenet firms must think about what they want versus what is being offered and ask themselves; what do I definitely want? What do I definitely not want? What can I compromise on? This will help steer them to a decision that is right for them be that, stick, go to a different network or go DA.
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