Which practices and physicians make the best integration partners? CFOs might consider the following preliminary questions before proceeding:
- Do the physicians demonstrate a commitment to clinical quality by pursuing transparency in data reporting and personal performance improvement?
- Do the physicians have a reputation for service quality among patients and among referring physicians? Do they share satisfaction data openly?
- Are the physicians busy and highly productive, demonstrating a successful work ethic?
- Is the practice financially successful, which is evidence of effective operational governance and discipline?
- Does the practice have low turnover among physicians, midlevel providers, and support staff?
- Have the physicians demonstrated integrity in past interactions with the hospital? Can they be trusted to make and keep commitments?
- Do the physicians have the ability to engage in effective dialogue, protecting their own interests as well as the interests of others?
Affiliation with physicians or practices that cannot meet these basic criteria will not "fix" their issues, and will inevitably yield a distraction in time and energy that far exceeds any partnership value.
For more information, see Marc Halley's "The Drive to Survive: Independent Medical Practice," hfm, March 2012
Publication Date: Thursday, March 01, 2012