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Deteriorated Insulation From the Hassles of Running a Medical Practice
If you haven't read it already, take a look at my August 5, 2019, blog post, Physician Discontent With Hospital Employment Beginning To Boil. In that post, I discuss the epidemic of discontent among hospital-employed physicians. Instead of seeing the outbreak as a negative, my post explores some of the opportunities that this trend presents.
In a subsequent email exchange, my friend Devona Slater of ACE (Auditing for Compliance and Education), commented that she, too, sees the exit of hospital employed physicians as an opportunity. But then she made a very interesting observation, which I’ve edited slightly for presentation: “It’s just part of the cycle of ‘the grass is always greener,’ but, truly, there are weeds in every yard.”
Many physicians opted for hospital employment, some straight from residency and others from independent practice, because they bought the line that hospitals fed them: “You didn’t go to medical school to run a business. We’ll run the business. You get to practice medicine!”
But the word “hospital” means “bureaucracy.”
I’m seeing several interesting trends. Over the past four or five months, I've worked on four or five consumer focused medicine projects with physicians, both office practice and hospital-based, who were leaving hospital employment. And, I’m beginning to work with internal medicine physicians pulling out of hospital-affiliated clinic settings to establish rather unique group practices.
Certainly, some physicians will remain hospital employees and, for newly minted physicians with an employee mindset, it will continue to be a viable option. That is, until the worsening financial condition of hospitals renders them unable to support employed and affiliated physician groups.
But for most physicians, having to fill in requisition forms, attend moronic meetings, and report to the clinic medical director, who reports to the regional medical director, who reports to the chief medical officer, who reports to the CEO, isn’t exactly hassle free.
Riffing off of Devona’s “weed” analogy, the layers of bureaucracy that were supposedly meant to insulate the doctors from the “hassles of running a medical practice” out hassled the actual “hassles of running a medical practice.” Go figure. |
| | | Wisdom. Applied. 130: A Not-So Love Triangle: When PE Met AKS Who Met Stark
It’s not quite when Harry Met Sally.
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| | | And it just stopped right in front of me. A black Suburban with a bike on the roof rack and a “coexist” sticker on the bumper.
What in the hell was going on? A medical emergency?
When there was finally a break in the traffic heading toward me on the two lane road, I pulled around the SUV. The driver's window was open and I came to a stop.
“Are you OK?” I asked.
“Yes,” she answered, face planted in her cell phone, “I’m just looking for directions.“
Do you have people working for you who are doing the same thing, metaphorically speaking? Have they simply stopped moving forward in their careers, dependent upon so much outside guidance that they are blocking others' progress as well?
Offer them some assistance. But if they continue to block traffic, just pull around them and leave them behind.
Sure, there are some alternatives, neither of which are acceptable: You can waste energy pushing them forward. Or you can just stop, too.
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| | Podcast Compilation Greatest Hits - Strategy Edition 1.0
We've curated our most popular podcasts on strategy into our first compilation album.
Sit back, enjoy, and think about your future.
Listen here. |
| | | | Stay tuned! Our new website is launching soon!
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| | | | | We all hear, and most of us say, that the pace of change in healthcare is quickening. That means that the pace of required decision-making is increasing, too. Unless, that is, you want to take the “default” route. That’s the one is which you let someone else make the decisions that impact you; you’re just along for the ride. Of course, playing a bit part in scripting your own future isn’t the smart route to stardom. But despite your own best intentions, perhaps it’s your medical group’s governance structure that’s holding you back. In fact, it’s very likely that the problem is systemic. The Medical Group Governance Matrix introduces a simple four-quadrant diagnostic tool to help you find out. It then shows you how to use that tool to build your better, more profitable future. Get your free copy here.
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| | | Whenever you're ready, here are 4 ways I can help you and your business:
1. Download a copy of The Success Prescription. My book, The Success Prescription provides you with a framework for thinking about your success. Download a copy of The Success Prescription here.
2. Be a guest on “Wisdom. Applied. Podcast.” Although most of my podcasts involve me addressing an important point for your success, I’m always looking for guests who’d like to be interviewed about their personal and professional achievements and the lessons learned. Email me if you’re interested in participating.
3. Book me to speak to your group or organization. I’ve spoken at dozens of medical group, healthcare organization, university-sponsored, and private events on many topics such as The Impending Death of Hospitals, the strategic use of OIG Advisory Opinions, medical group governance, and succeeding at negotiations. For more information about a custom presentation for you, drop us a line.
4. If You’re Not Yet a Client, Engage Me to Represent You. If you’re interested in increasing your profit and managing your risk of loss, email me to connect directly. |
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