Experience Monopoly The Business of Healthcare

Tying Your Medical Group’s Future to a Rock

November 21, 2012

I counsel my clients to develop broad, deep and wide relationships with the facilities they serve.

But what if your group serves only one facility?

Consider a group that is more successful than most in developing that strong relationship and in providing what I call an Experience Monopoly™ to the facility, to the referring physicians and to the patients. But, they do so only in regard to one facility.

They consider themselves safe:  After all, the facility is a large hospital, prominent in the community and, they believe, in good financial condition.

But consider that no matter how you dress up that relationship, the truth is that if the group does business at only one facility, the group is at huge risk in the event something happens to the facility or to the contract.

Sure, they’ve tied themselves extremely well to that one facility which they see as strong as a rock: But what happens if that rock ends up in an ocean of red ink and pulls the group along with it to the bottom? Or, what happens if that rock breaks the ties that bind?

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

Mark F. Weiss

www.weisspc.com

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