BIZNICAL Part 3: Business + Clinical Go Together Like Peanut Butter & Jelly
The word “corporate medicine” is being used quite often these days given the number of health systems and companies that are employing clinicians and purchasing their private practices. The big want to get bigger for economies of scale, leverage, control, and protection. It is a strategy that has worked well in other industries, so why not healthcare? The issue here is unlike a widget or software, the item impacted most in the healthcare industry is patients’ livelihood, care, and long-term health. While other products and services might impact people, there is no other industry where life-and-death is a prominent concern.
There has always been a business side to patient care and saving lives, but it has been behind the scenes. Now being at the forefront, any change or cost-cutting comes with an assumption that it is for the bottom line or because non-clinical personnel is making decisions. As a non-clinician, how do you passionately work in the best interest of the patients and providers, along with the system, without the immediate negative connotation that you are part of the problem rather than part of the solution? You can build relationships and demonstrate your good intent, but it takes several years to see how those decisions play out. The truth is, we don’t have that much time and need to act now.
It is very challenging work, but someone needs to be a partner to the Clinical Team and fight for a long-term solution that keeps them protected. The Business Team needs to act as a resource and provide unlimited support so that the Clinical Team can provide quality care stress-free – especially in our industry that is experiencing shrinking reimbursement. While at first there may be assumptions, backlash, and resistance from the Clinical Team, you need to continue making decisions with their best interest in mind so that you can prove you are on their side. Overtime, your Clinical Team will realize that their trusted business advisors are there to take care of them so that they can continue doing what they do best: providing the best outcome, care, and experience for the patient.
While there continue to be opportunities for investors, systems, and conglomerates to take advantage of our fragile healthcare system, it is time for the dyad of passionate physicians, nurses and their strategic, business-minded counterparts to pull through and provide a new tomorrow. We can only do this together and the time is now. #BIZNICAL has never been more important. Are you seeking out your yin to the counterpart yang? Together we can move mountains, change the future, and create a bond that has been missing for centuries.