Manage Your Practice

A Tear in the Fabric of Medical Groups

December 17, 2012

Have you ever tried to stretch pizza dough? Pull it too much or too thin, and you end up with a tear.

Many medical groups suffer from the same effect as a result of differing camps within their ownership ranks.

Some members are focused on immediate returns: the amount of their paychecks and the workload required. They are not interested in investing money back into the business of the practice. Other members realize that unless their medical group takes steps to build its future, someone else will be dictating that future.

As a result, like in pizza dough, a tear develops in the fabric of the group.

Groups need to determine why they are in business. Then, when they bring in additional owners, they need to assure that they share the same mindset.

If the mindset is to create a business that’s larger than simply “serving” a hospital, then they’ll strategize for a future that includes growing a strong, independent practice.

If it’s simply to maximize current income, then there’s not much need to strategize for the future, because the group won’t have one.

Comment or contact me if you’d like to discuss this post.

Mark F. Weiss

www.weisspc.com

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