Imagine that you are an engineer packing a space vehicle for flight. You’d include what you’d intend be used and toss in some backups – but you certainly wouldn’t include anything that won’t be required.
Tag: contract
Tying Your Medical Group’s Future to a Rock
I counsel my clients to develop broad, deep and wide relationships with the facilities they serve.
Creating Transformational Contracts – Podcast
Top level hospital-based groups cannot merely be concerned about maintaining a relationship; they must be concerned about delivering a transformational experience to their relationship partner.
Independent Anesthesia Group Success in a Segmented Market – Podcast
Independent anesthesia groups must develop strategies tied to the segmenting market.
Independent Anesthesia Group Success in a Segmented Market
It’s estimated that the large national anesthesia companies have around 10 percent of the market. They certainly are on a drive to expand. To a significant degree, this expansion is driven by private equity and in some cases publicly raised money. But outside investors will only stay in the game as long as there are profits. When…
Creating Transformational Contracts
I’ve described exclusive contract relationships between hospital-based groups and facilities as being Relationship Contracts™, not Transactional Contracts™. To recap what I mean by those terms, Transactional Contracts™ are ones in which the parties negotiate for a deal which, essentially, terminates as of the closing. For example, think about the purchase of a car or the purchase…
The Walking Dead: Is Your Group Actually in Business?
You have been coming into work every day for years. Now there’s no need to come in tomorrow because your group no longer exists. You see, although your group collected over $20 million over the past year, and you and your fellow partners earned a tidy sum, it turns out that your group was simply…
Why Stake Your Future on Only One Hospital?
Pretend you’re about to invest years of effort and place your economic future on one of the following: (a) A business totally dependent upon the fact that Gmail will always exist, or (b) A business dependent upon email on any platform. Why is it that “b” is an obvious choice in this pretend exercise, but…
Einstein and Exclusive Contracts
Only slightly tongue in cheek, Einstein’s theory of relativity, E=MC², is also the formula that describes the power of any medical specialty exclusive contract. E = Exclusive (to the exclusion of all other physicians as to the services covered) m = management (of the business function of delivering that service) c² = control and cash.
Why Sometimes the Only Way to Win is Not to Play at All
Just as in sports, many medical group leaders are motivated by “winning isn’t everything – it’s the only thing” thinking. But there’s an important corollary to that rule that often goes disregarded to the group’s detriment: Sometimes it pays to lose or to not play at all. How can that be? Well, imagine that your…