Almost all physician groups are mired in mediocrity. Only 3 to 4 percent are in the category of top performers, of those who have seized their own futures. Those few are the groups that I call the strategic groups. There’s a choice, an intersection – the great intersection – and you’ve come to it today….
Tag: physician
Who Is Driving Your Practice’s Bus? – Podcast
Many medical practices operate as if no one is driving the bus.
The Problem With Compensation Surveys – Why Assume That You’re Average?
Let’s assume for a moment that physician compensation surveys are statistically significant. What’s the problem with them? Well, I suppose they’re fine, that is, if you’re content with being average. OK, I can hear it now, some reader yelling that physician compensation surveys indicate more than just what’s average; they show the 70th, 80th and even…
Simple Change: Complex Transformation
Many contracted medical groups, both those in the traditional hospital based specialties as well as those in office based specialties, quite improperly view themselves as providing a commodity service. They themselves do not believe that there is a qualitative difference between their group’s “Dr. A” and another group’s “Dr. B,” such that there is no strategic value from obtaining services from their group as…
Keeping Up Appearances: Verisimilitude and Success – Podcast
The perception of the truth plays an important role in group and individual physician success.
Who’s Driving Your Practice’s Bus? II
For many medical practices, it appears as if no one is driving the bus; that is, no one is in charge of the group’s business. Instead, the practice operates like a runaway bus — yes, the providers are seeing patients, but where is it headed?
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.
I Don’t Even Know Where to Begin – Podcast
How to develop the skills and strengths to guide your group’s future.
It’s Human Nature: Incentivizing Performance
In 1919, New York hotelier Raymond Orteig announced the Orteig Prize: $25,000 to the first aviation team to fly nonstop between New York and Paris. In 1996, the X Prize, later named the Ansari X Prize for its major benefactors, offered $10 million to the first private, reusable manned spacecraft to fly into space twice…
Keeping Up Appearances: Verisimilitude
Verisimilitude: The appearance of being true or real. Unfortunately, it’s not the fact that your medical group is actually the “best,” which, indeed, it might well be, that governs your group’s success. Rather, it’s whether the hospital, or referring physicians, or patients believe that you’re the best. Create that perception. It does not happen by itself. This also is…