Independent practice. Joint ventures/clinical co-management. Full employment. Hospitals and health systems are opening up a number of options to align with physicians. All of this can leave a busy physician to wonder: "Which is the right type of business relationship for me?" Partnerships can create significant windfalls, not just for your business but also for the patients you serve. At a high level, it comes down to reviewing the pros and cons of each business model, notes John McHugh, a Washington, DC-based consultant with Navigant. Whether the hospitals in your region have an appetite for investment will determine if these options are available to you.