Reading Time - 4 min
Why you should spend 4 minutes reading this:
Unsatisfied physicians and over-paid physicians can put your group at legal risk and erode at your bottom line
Your ability to properly manage your physicians will be a major contributor to your success. Among other things, you'll want to:
Track physician performance
Make your physicians increasingly valuable
Develop processes to keep them satisfied (or they may be poached)
Begin developing pipelines for future physicians as the shortage grows
As you review your physicians performance, here are some metrics to track to make sure your physicians are contributing to the practice.
Here's more information on tracking performance within your group.
Increase Physician Value:
In the long-run, your goal is to maximize the amount of revenue a physician can generate via the care they provide in conjunction with their care team.
Develop processes to keep physicians satisfied:
The War for Physicians has only begun and you’ll face increasing pressure to satisfy them. This may manifest itself in:
Improved Work Environment
Develop physician pipelines:
The shortage of physicians will contribute to your practice risk profile. In order to combat this risk, consider investing in developing a physician pipeline.
High-level actions you can take based on this article:
1. Develop physician management processes
2. Determine/improve the profitability of your physicians via analytics
3. Improve physician satisfaction and retention
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Winner: the Data Driven Provider
I am a physician in a practice or clinic
I am looking grow my practice or clinic
I am looking to sell my practice or clinic
I am looking to provide cost-effective care