Escape The Prison of Cost Based Thinking – Podcast

If your mindset is that spending money on your future is a cost, you don’t have a future.

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Mark F. Weiss

www.advisorylawgroup.com

Community Hospitals Must Change Or Die. Change Presents Opportunity for Entrepreneurial Physicians – Medical Group Minute

Creative destruction is taking aim directly at community hospitals. You can fight to save them. But if they’ve failed, you can, á la Shumpeter (and Weiss), take part in creating, phoenix-like, far more appropriate healthcare solutions for your community and for your profit.

Mark F. Weiss

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www.advisorylawgroup.com

Synthesizing Large-Scale Medical Practice With Bespoke Customization – Success In Motion

Ride along with Mark as he discusses the parallels between the Industrial Revolution, the bespoke customization of bike frames, and modern medical practice: more patients and a transformational experience.

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Mark F. Weiss

www.advisorylawgroup.com

You Have A Spy In Your Medical Practice

Spies.

What image just flashed through you mind?

James Bond? George Smiley? Aldrich Ames?

No, not them, but, rather, the one that you undoubtedly have within your organization.

Today, there are criminal cases in which a defendant’s Amazon Alexa has been subpoenaed to allow prosecutors to tap into its memory of what was said at the scene of the crime. There are civil cases in which the onboard computer inside a car has been, in essence “questioned,” in order to get information about the speed of the car at the time of an accident.

Right now, in your medical practice or healthcare facility there are undoubtedly computers and also other devices that have memory which may be able to be tapped for information. Not, perhaps, realtime, but at least tapped into later to discover information about your practice.

Some of these devices are as innocuous as the multipurpose copier sitting on a desk, but others are medical devices of many sorts – especially as those devices become “smarter,” more equipped with extra memory designed to communicate with electronic health records.

Think about what information is on those machines. Consider how you have to protect them, not only for HIPAA purposes, but for what information they could reveal about your practice and your business operations.

Think about to whom they may soon be talking.

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Mark F. Weiss

www.advisorylawgroup.com

Driverless Cars Might Not Crash But They Will Impact The Business Of Healthcare – Podcast

Suppose people who want to sell us driverless cars, or to force us into driverless cars, are right and that we’ll all be driving in them. What’s the impact on healthcare? What’s the impact on your practice?

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Mark F. Weiss

www.advisorylawgroup.com

Fraud on Physicians in the ASC Setting – Medical Group Minute

As more physicians rush to invest in ASCs, unscrupulous facility promoters/managers scheme to separate physician investors from their money.

Mark F. Weiss

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www.advisorylawgroup.com

Efficiency vs Efficacy – Rebroadcast – Success In Motion

We’re all aware of the push for greater efficiency in healthcare. Unfortunately, doing the absolute wrong thing the right way is incredibly efficient.

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Mark F. Weiss

www.advisorylawgroup.com

Merging Weak Hospitals Equals Sears Plus Kmart Equals Failure

A decade or more ago, the financier Edward Lampert put together two weak businesses, Sears and Kmart. He thought that putting them together would create a strong business. Go figure.

That was at the time when those old businesses were declining. Internet sales, including via the likes of Amazon, were beginning to take off.

Yet, Lampert combined the two businesses only to find out that it did’t save the business. Lampert sold off their flagship line of Craftsman tools. Their stores remained in disrepair. There’s just no advantage to the business anymore, but yet it continued to hobble along into, and now out of, Chapter 11 Bankruptcy as a mere shadow of what the two businesses once were.

How different is that from hospital mergers in which CEOs and boards and others think that combining two weak hospitals will yield one that’s strong? Or even that one weak hospital can be saved by merging it into a strong facility?

How can most hospitals continue when procedures are being pushed out to ASCs and to other freestanding facilities? How can those hospitals continue to combine to form larger facilities with more beds? How can hospitals continue to acquire physician practices when all the evidence shows that hospitals lose money when they acquire physician practices.

I don’t know.

Maybe it’s the fact that people look at quarterly returns. Maybe it’s that CEOs think that mergers will make them momentary stars and that they themselves will be moving on to other ventures by the time that the deal fails.

It makes you wonder whether these larger-than-before entities in healthcare will survive at all when, eventually, as with Sears and Kmart, the shit hits the fan and returns are no longer possible.

But what does this mean for physicians?

On the one hand, as physicians became more tightly entrenched with hospitals and permitted themselves to become seen as “vendors” as opposed to partners, they increased the fragility of their hospital-linked future. Goodbye hospital equals goodbye practice.

On the other hand, telling the truth about your current situation allows you to prepare for a post-hospital future. What are your, yes, your, alternatives? What will you do if the hospital closes? Will you relocate? Will you re-group and remain in the community? Will you take advantage of the fire-sale of hospital property, perhaps ripe for re-purposing as a medical mall, an ASC, an so on?

There were both losers and winners in the Sears debacle. The number of combined Sears and Kmarts is shrinking to around 400, down from 1,672 just three years ago. That’s a lot of disappointed landlords and thousands upon thousands of out of work employees. But toolmaker Stanley Black & Decker walked away with the prize Craftsman brand and is already expanding its business.

Winner or loser? What sounds better to you?

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Mark F. Weiss

www.advisorylawgroup.com

Anesthesia Company Model Arrangement Fuels $1.718 Million Dollar FCA Settlement by a Surgeon and a Separate Guilty Plea By Another Doctor Defendant – Podcast

In a recent set of go-rounds with the Department of Justice, the so-called company model of anesthesia services took a major hit: Jonathan Daitch, M.D., just agreed to a $1.718 million civil settlement and Michael Frey, M.D., plead guilty in a criminal prosecution. 

Contact me if you’d like to discuss your situation.

Mark F. Weiss

www.advisorylawgroup.com

Do You Know What Costco Pharmacy Doesn’t About The Lifetime Value Of A Customer? – Rebroadcast – Medical Group Minute

Like a dry cleaner, healthcare providers have to screw up to lose a customer’s loyalty.

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Mark F. Weiss

www.advisorylawgroup.com