BIZNICAL: A Critical Partnership Between the Business + Clinical Teams
We need to bring to the forefront a phenomena and enigma within the healthcare sector today. How are we balancing additional clinical and quality of care requirements while also dealing with shrinking reimbursements and major consolidation in the industry? This may turn out to be the pivotal topic that is the #1 make or break in your organization today. We are talking about the wonderful world of BIZNICAL decision-making, teams, and values.
Business + Clinical is the foundation of any future sustainability and success in today’s healthcare world. Ask yourself:
It’s a must to get the buy-in from the clinical team to help work towards ensuring financial viability within your practice. At the same time the business side needs to understand and support a high-quality patient-centered model. When one side continues to dominate the priorities, decision-making, and leadership, the practice may have short-term financial gains while suffering long-term challenges like clinical quality, patient care, and culture that could threaten the livelihood of the organization. On the flip side, prioritizing all clinical objectives will offer a great reputation and quality of care in the long-term, but if the company goes bankrupt before any of that can come to fruition, the mission is lost.
- How are important decisions made today in healthcare?
- How do you align and sync up business and clinical objectives and priorities?
- How can you educate and communicate the importance of each when coming from one side?
- What happens when your revenue comes from a different source than your direct customer impact and how do you balance that patient-centered offering while appropriately working and complying with insurance carriers, regulations, and an environment that is prioritizing cost savings?
A true Biznical partnership will thrive both now and in the future to achieve the optimal balance which will be a tremendous competitive advantage. It’s easy to hide each other’s purpose, information, and goals chalking it up to “the other side will never get it because they don’t have this expertise”, but that is the wrong approach.
With all of the above in mind, we created this blog series to help improve this facet within your practice or healthcare organization. We will bring real experiences, challenging situations, and topics that have strong pros and cons from both the clinical and business sides. We encourage you to share your questions, stories, and expertise so we can evolve this into a best practice thread focusing on the most important aspect of the industry today… BIZNICAL. We hope you find this information valuable while picking up a few resources and tips to avoid mistakes and improve the communication between these two ends. We also hope to assist leadership that has to combine these forces daily and with the most crucial decisions of the organization.
Stay tuned for more and welcome to the BIZNICAL World!