It’s not news to you that there’s a huge shortage of physicians in many medical specialties, such as in anesthesiology and radiology. With the overall aging of the physician population, shortages in other medical specialties, including those that are office-based, will intensify.
After having represented medical groups with a particular emphasis on hospital-based groups for 30 years, it has become strikingly clear that what distinguishes the most successful groups, from the great majority of the mediocre.
Medical group organizers generally confine their entity’s business structure to a corporate or partnership type entity and then proceed to conduct business through it.
From the medical group perspective, a compensation plan is a part, in fact the largest part, of the practice’s system for driving behavior within the medical group.
I remember, as a kid, walking around Disneyland, noticing yellow “no parking” size signs labeled Kodak Moment. They indicated a great vantage point for taking a photo. Yet today Kodak is in bankruptcy, its core film business gutted by the digital camera.
Watch as Mark explores the lessons in the fall of Kodak while considering which innovations are important for your business to adopt.
I recently read an article about a physician who had sold his practice to a hospital. The physician was quoted as having stated that he had grown disenchanted with running the business end of his own practice, thus his agreement to “have my practice managed by” the hospital.
Take a seat while Mark discusses how the concept of pricing your customers can be applied to pricing your patients in healthcare.
It’s essential that you first consider what’s most important for your group’s success.
Explore the lessons in the fall of Kodak while considering which innovations are important for your business to adopt.