Self-Referral is referral by a physician to an entity with which the physician or a member of the physician's family has a financial relationship. The relationship is such that the physician would earn a financial return based on the success of, for example, a speech and hearing clinic in which the physician invested.elf-Referral is referral by a physician to an entity with which the physician or a member of the physician's family has a financial relationship. The relationship is such that the physician would earn a financial return based on the success of, for example, a speech and hearing clinic in which the physician invested.