Options trading. I don’t mean puts and calls. And this post has nothing to do with the stock market. I’m talking about hedges. Hedging the bet you’ve made on your group’s future, “bet” being used in the manner of the strategy you’ve adopted to achieve your group’s focused future. You’ve made that bet, haven’t you?…
A recent trip to a restaurant and the post office illustrate the difference between entrepreneurial medicine and the brave new bureaucratic world of healthcare.
Jumping into action without a clear strategy leads to misfires. Learn why aligning your medical group’s efforts with a focused vision is crucial.
Certainly, patient care within your medical specialty involves many complicated and complex issues. But that doesn’t mean that the way that your practice’s business relates to hospitals, referral sources and patients has to be complicated. And, it doesn’t mean that the way that the arrangements among your practice’s owner physicians, or between your practice entity…
You couldn’t ask for a better analogy to illustrate the difference between entrepreneurial practice and the bureaucratic world of one size fits all medicine envisioned by many pundits as the preferable world of the future. Dinner at the family-type chain restaurant, Rock Fish. Pleasant but not fancy, yet clean and decorated nicely. We were greeted…
Medical practice is complex but your practice’s business should strive for simplicity.
Male hummingbirds, those cute little avian rockets, are absolutely vicious when protecting their turf from other males of their species. They’ll fight to the death. But for physicians, protecting your turf requires a more balanced approach. Especially when it comes to deciding what to protect. For example, some physicians believe that they will be able…
When “practice” becomes employment, physicians lose autonomy and leverage. Learn the structural differences and how you can reclaim control.
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…
Be honest: Do you own your practice or does it own you? If your practice owns you, what you have is a job. You might as well go work for someone else. Less headache. Isn’t that the whole point of physician management companies and hospital employment? But if you want to become successful, and there…