I manage a clinic or practice
Your perspective and interests in healthcare are unique. In order to facilitate easier discovery of topics, we have organized our articles for you here.
They are arranged by the problems others in your position have experienced.
Each underlined word is a link to an article that may help you. Click it to read more.
How can I increase profitability?
First let's review your core function as a provider. Based on your core function and market forces, you'll want to begin developing a long-term strategy.
There's a lot to manage. Utilizing your data and developing targets for your teams will drive performance.
As you work to increase profitability, also work to reduce your risk. Stakeholders could wipe out all your hard work.
Why is this industry becoming increasingly complex?
As rates decrease, there is less and less room for error. This requires that:
1. Provider groups hire more staff to avoid losses
2. Provider groups develop care teams to increase physician reimbursement
Also, the government cannot effectively manage all Medicare lives. In an effort to improve Medicare (and decrease the cost of it), the government is privatizing public care via HMOs, ACOs, MSOs etc.
These groups are increasing the complexity within healthcare and taking a cut during the process.
What is on the horizon, how can we plan for it?
We can only speculate. You'll want to make plans based on where you believe healthcare may go while keeping a few simple principles in mind:
1. Power is real
2. Reduce your risk
3. Manage your functions
4. Data informs decision making
5. Better decision making is the best long-term competitive advantage
6. Stay agile so you can react to the unexpected
What should I focus on during my career for long-term success?
This industry will likely undergo significant change in the next 20+ years as technology sweeps through it.
Understand the core function of the industry. Pick your niche within it that fits the lifestyle you want. Become an expert in your niche.
Here's a great read on career planning.
Depending on the lifestyle you are looking for, consider reaching out to provider groups that meet those requirements and are best-positioned to succeed.
If you need help, fill out the form below.
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I am a physician in a practice or clinic
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I am looking to provide cost-effective care