Owning Medical Practices: Best Practices for Sustainable Results
Marc D. Halley, MBA
Softbound: 264+ pages
Dimensions: 7" x 10"
AHA Press / American Hospital Association
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Recommended by the American Hospital Association, this is a practical book that will guide hospital executives whose organizations currently own medical practices and employ primary care and specialty physicians, plus those in organizations looking to expand their business.
It will enable executives to confidently understand and identify the best practices of how to successfully own and manage medical practices and how to integrate practices and physicians into their hospital strategies. The insights gained will facilitate the development of sustainable integrated competitive strategies, sustainable practice operations, and practice financial viability.
"...a must-read for health care executives who want to avoid the mistakes of the past and successfully build integrated networks. ...provides both leadership insights and practical tools for the optimal integration and employment of physicians within hospitals and health care systems." --Mel Pyne, CEO, PeaceHealth Oregon Region, Eugene, OR
Owning Medical Practices addresses the common mistakes hospitals make as they employ physicians. Chapters cover all areas of business administration, from strategic to operational and financial topics. It offers solutions to challenges that hinder the successful acquisition and ongoing operation of a medical practice. The book covers issues such as:
engaging employed physicians in the success of the enterprise
best-practice management structure
growing the physician network
best practices for marketing the network and individual clinics
"highest and best-use staffing"
establishing a best practice model for revenue cycle management
best-practice performance expectations
Helpful Templates and Self-Evaluation Tools: The Appendix contains tested, unique documents that will facilitate practice development, physician recruitment, performance improvement, and more.
Role Description for Network Operations Council Chairperson
Sample Communication Matrix
Physician Candidate Questionnaire
Specialist of Choice Practice Evaluation
Medical Practice Clinical Productivity Evaluation
Potential Requirements for Mission-Critical Applications
Initial Offer of Employment Terms Sheet
Physician Practice Start-Up Action Plan Summary
Site-Specific Action Plan
Clear Directions for the Senior Executive Team: Owning Medical Practices clearly distills the strategies behind the core business imperatives of owning medical practices: capturing and controlling market share; demonstrating clinical and service quality; creating capital for reinvestment; and, ensuring physician productivity. Chapters cover all areas of business administration, from strategic to operational and financial topics.
Hospital CEOs and hospital strategists will use the book to better understand physician employment as a sustainable competitive strategy and to learn ways they can involve their boards in making decisions. They will gain insights on how to engage employed physicians in operational governance and how to create an appropriate management infrastructure.
Hospital CFOs will use the book to define appropriate financial reporting for medical practices and to identify performance indicators, which can be compared to internal and external benchmarks. They will find the discussions on physician compensation models and compensation as a driver of physician productivity, as valuable as the explanations about why the traditional central billing office model fails in medical practice settings.
Practice network leaders (both physicians and executives) will learn "best practices" they can apply to their local market strategies, policies and procedures, or to benchmark current performance.
"With a pen and paper and his book, one can literally convert a grand vision into a set of to-do lists. ...vision into action at its best... and most relevant." --Jonathan Bush, President and CEO, athenahealth, Watertown, MA
"...will help many of us avoid the pitfalls of the past while improving the effectiveness of our health care system for its most important part the patient." --Steven B. Bateman, CEO, St. Mark s Hospital, Salt Lake City, UT
Marc D. Halley, MBA, is president and CEO of The Halley Consulting Group. Marc has provided management and consulting services to medical practices for 25 years and has worked with a variety of specialties, including hospital-owned medical practice networks. Marc is a frequently requested speaker, addressing governing boards, senior executives, physician groups, management teams and national organizations. He is also a frequently published author of books and articles on medical practice acquisition and management.
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