Complain. Get Fired. Get $17.5 Million. – Podcast

A physician raises honest criticism or files a heartfelt complaint concerning another member of the medical staff or another member of her group. She’s fired.

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Mark F. Weiss

www.advisorylawgroup.com

The Problem Of Perception: Healthcare Collaboration – Rebroadcast – Medical Group Minute

If collaboration really is the real thing, let the hospital design the deal, but the physicians control it.

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Mark F. Weiss

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Leadership Mindset And Medical Group Success – Success In Motion

Ride along with Mark as he discusses a mindset tuneup to improve medical group performance.

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Mark F. Weiss

www.advisorylawgroup.com

What Herman Cain Knows About The Defect In Medical Group Compensation Plans

Herman Cain withdrew his name from consideration for a Fed seat because he couldn’t afford (or didn’t want) to work for the relatively low pay.

So, how can you expect one of your partners to devote time to running your medical group, if you won’t compensate him or her for it?

After all, you get what you pay for.

If you try to get it without paying for it, you won’t get much of it, at least not of high quality.

And you are probably stealing. The irony is that you are stealing from yourself, from your future.

Medical Group Compensation Plans

What does your medical group’s compensation plan compensate for? The usual answer is “productivity,” whether measured in units or minutes or by some other standard.

If your group compensates for X, you will get more of X. So if X is units, your group’s physicians will be motivated to maximize their production of units.

But if your group compensates for X and also wants Y, you will get a lot of X and not very much, if any, Y.

For many medical groups, Y is leadership. They want their group leaders to lead, but their compensation plans incentivize only the production of units.

Is it any surprise that the “leadership stuff” is relegated to the wee hours of the night or even to the wee hours of never? Is it any surprise that there’s no actual leadership, only “consensus?” Is it any surprise that the leaders schedule business meetings at 7 pm or on weekends, signaling amateur status?

If you don’t pay for leadership, you won’t get much, if any, of it. You will create tension. You will create resentment. But you will not create leadership.

You’ll be stealing from the leaders – either from their ability to generate units or from their time for themselves or with their families.

And, as a result you will get a very weak form of leadership, one that results in your group stealing from its own future in the form of poor decisions and lost opportunities.

You’ve got great plans to take over the region or to simply protect your position at one facility. You expect your leaders to achieve that goal. Yet you’ve incentivized them away from your goal. Don’t blame them when you never get there. Blame yourself.

It’s time to make sure that your group’s compensation plan is in synch with your group’s business strategy and future.

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Mark F. Weiss

www.advisorylawgroup.com

Building Value Within Your Medical Group – Podcast

If you were going to sell your house, you’d make sure that it’s put into decent or even prime shape before listing it, right?

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Mark F. Weiss

www.advisorylawgroup.com 

Why A Strong Customer Relationship Might Be Your Undoing – Medical Group Minute

No matter how good it looks, no matter how profitable it is, you can’t be dependent upon any customer for a significant part of your business. 

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Mark F. Weiss

www.advisorylawgroup.com

Tesla, Elon Musk, And Medical Groups: Turning Lemons Into Lemonade – Success In Motion

Ride along with Mark as he discusses taking a play from Elon Musk’s playbook and from his own Situation Transformer strategy. From Teslas to brain hookups. From medical group errors to success.

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Mark F. Weiss

www.advisorylawgroup.com

Why You Need To Adopt The Contingency Mindset

Have you considered the impact of contingency fee thinking on your business?

No, not contingency fees in the sense of a personal injury or a med mal lawyer. And no, not contingency fees in the sense of the type of contingent and blended fee deals that I do on transactions with clients from time to time. But about you working on a contingency fee basis . . . at least in terms of how you think.

How would you run your business if every patient or referral source or facility relationship paid off for you on a contingency basis only?

No fees per unit. No fees per visit. No monthly stipend support. No, well, anything, except for payment at the end, conditioned upon a successful outcome, whatever “success” means in the particular context.

If that were indeed the case, how would you organize things differently? How would you structure your practice, your facility, your group, your governance, your contracts?

This puts you in an incredibly different mindset, a very powerful mindset.

It seems simple. It seems like it is a game, but think about it, because the reality is that you are on that contingency basis. Referral sources could leave you and facilities can terminate your contract. Patients could walk for someone across the hall or across town.

So think about it: How would you reorder your business, your practice, and your relationships, if the only way that you got paid was based on a successful outcome?

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Mark F. Weiss

www.advisorylawgroup.com

Another Hospital System Settles Whistleblower Allegations That Outpatients Were “Turned Into” Inpatients – Podcast

Alchemists struggled without success for centuries attempting to turn lead into gold.

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Mark F. Weiss

www.advisorylawgroup.com

Why Hope and Fear Drive (Stupid) Deals – Medical Group Minute

I see too many deals that are hatched from the evil twins of self-inflicted human nature: fear and hope.

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Mark F. Weiss

www.advisorylawgroup.com