Today’s hospital administrator understands the importance of close alignment or integration with physicians. Until recently, the relationships between hospitals and physician practices were loose and sometimes competitive. The current trend of practice acquisition by hospital systems has created many opportunities, and has also brought to light many challenges for even the most savvy hospital administrator. They have discovered first hand that the acquisition of physician practices can result in some very challenging management issues. The challenges typically include difficulty creating a synergistic alignment between the goals of the hospital and the practice, challenges in managing “employed” physicians who are accustomed to being entrepreneurs, and loosely defined goals with little or no means to effectively measure and track performance.
The good news is that these challenges are not at all insurmountable. In fact, DoctorsManagement has had numerous successes creating synergy between the practice and the hospital system with quite positive performance results.
Crucial points of failure can be eliminated before they occur by following a proven system that involves:
- Assessment of the current environment
- Strategic planning with clear and measureable goals
- Identify key performance indicators and monitoring revenue cycle
- Training and development channels
- Support and systems for growth through efficiencies and marketing
DoctorsManagement can help you in any stage of acquisition or managemenet of physician-owned medical practice. Whether you need help setting expectations in advance, conflict resolution or team building, we can help you achieve success for both the hospital and the physician practice.