Jill Arena 공개
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Who is this podcast for? It's for you if you: Lay awake at night wondering if your medical practice is doing well financially, or if you are concerned about your insurance contracts or your reimbursement, or if you worry about being embezzled. Do you want a big piece of new equipment, but are not sure it's a wise purchase, or do you shudder every time a financial question comes up? Join Jill Arena, CEO of Health e Practices and other healthcare industry experts as they demystify the business ...
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Welcome to today's episode, where we delve into the world of business psychology, focusing specifically on team dynamics within medical practices. Based on Patrick Lencioni's seminal book, "The Five Dysfunctions of a Team," we'll explore how these principles apply to the unique setting of healthcare. Whether you're a physician, practice manager, or…
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In this episode of the Medical Money Matters Podcast, we delve into the pivotal role of marketing in the medical field. Whether you're just starting out or looking to expand your existing practice, understanding and implementing effective marketing strategies is crucial. Today, we're specifically focusing on marketing strategies for two key areas: …
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Today, we’re diving into an essential topic that every medical practice owner and administrator should prioritize: Business Continuity Planning, or BCP. In the world of healthcare, where patient care and safety are paramount, being prepared for the unexpected is not just prudent—it’s critical. Whether it's a natural disaster, a cyber-attack, or ano…
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In this episode, we're focusing on a critical issue that every healthcare organization faces: employee retention. In a field as demanding as healthcare, retaining skilled, dedicated professionals isn't just beneficial; it's essential for maintaining high standards of patient care and operational excellence. Drawing inspiration from Joe Mull's semin…
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In the wake of the pandemic, the healthcare industry faces unprecedented staffing challenges. From the scramble for qualified professionals to the evolving landscape of patient care needs, medical groups nationwide are feeling the pressure. But why exactly is staffing proving to be such a Herculean task, and more importantly, what can we do about i…
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The unfortunate reality is that embezzlement in the healthcare sector is on the rise. In this episode, we review: these aren't just numbers on a page; they're significant breaches that can drain your resources, demoralize your team, and damage the trust you've worked so hard to build with your patients. As we said in our earlier episodes, a startli…
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Do you dread having to conduct the annual evaluation for your practice's leader? Your CEO or Practice Administrator sees to it that all of the staff's evaluations are completed, but now it's time for their annual review. Many physicians dread having to do this, as it's not something that's taught in medical school. This episode breaks down how to c…
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Practice transitions can be easy if you plan for them or difficult if you don't. Join me for a conversation with long time practice consultant Debra Phairas of Practice & Liability Consultants, a west coast consulting company. Debra brings many years of experience in valuing and consulting to practices and walks through many common scenarios that c…
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The recent cyberattack on Change Healthcare has sent shockwaves through the healthcare market, underscoring the critical importance of cybersecurity in the healthcare sector. This event not only disrupted the company's operations but also had a cascading effect on physician practices and medical groups reliant on its services for billing, claims ma…
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In this episode, we're exploring a topic that's revolutionizing the patient payment landscape in healthcare: Digital Wallets and Contactless Payments. The days of writing checks and swiping cards are fading into the backdrop of healthcare payments. Today, we're witnessing a remarkable transformation, a shift towards more modern, tech-driven solutio…
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The concept of a doctor's visit has been redefined, largely by the pandemic. No longer confined to the four walls of a clinic, healthcare has transcended physical boundaries, thanks to telehealth and virtual visits. But how did we get here? It's a story of technology meeting necessity, a narrative of innovation that's reshaping healthcare delivery.…
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In this episode, we're demystifying a topic that's critical yet often overlooked in medical billing – Hierarchical Condition Category, or HCC coding. Understanding HCC coding is not just about compliance; it's about ensuring your practice's financial health. So, let's dive into the world of HCC codes and discover why they add a lot to your bottom l…
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Taking performance to the next level frequently demands more than we know to do for ourselves. This is where a coach can come in, and this episode explores specifically why a physician might want to consider retaining an Executive Coach. I get to talk with Karl Pister, founder and president of The Coaching Group, Inc. Karl has extensive coaching, c…
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In this episode, we're diving into a critical aspect of healthcare that affects both providers and patients alike – the patient experience. While medical expertise is undeniably crucial, the way patients are treated and how their time is valued can leave a lasting impression. So, in this episode, we’ll explore practical strategies and insights into…
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In this episode, we’re tackling a topic this is critical for many physicians: Selling Your Medical Practice. Whether you're nearing retirement, looking to shift careers, or considering other ventures, understanding the intricacies of this process is vital. Selling a practice is more than a transaction; it's a transition that affects your financial …
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In this week's episode, we're diving into a crucial topic for many growing practices: when and how to add a new location. This decision is more than just a financial investment; it's a strategic move that requires careful consideration of various factors. Whether you're a seasoned physician or new to practice management, understanding these nuances…
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You work hard for the money, but are you getting all of the money you've actually earned? "Coding" and "game" don't usually collide in the same sentence, but understand that it IS a game. And, it's one you can win! Join me for a conversation with Anne Hirsch, MD a practicing internist and national coding expert. Anne walks through the distinction a…
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How do you ensure that your practice not only survives but thrives, long after you've stepped back? It's about creating a legacy, something that stands the test of time and continues to impact the community positively. So, why is succession planning so important in a medical practice? It's about continuity and legacy. Without a clear plan, your pra…
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What should you do when your practice partnership feels more like a sinking ship than a thriving enterprise? If you've been asking, "What if my partner is driving me crazy?" this episode is for you. This is a topic no one wants to talk about, but absolutely everyone needs to consider. And before we dive in, I should say, the objective of this episo…
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In more than 30 years of working with medical practices, I've observed a consistent theme: talented physicians who excel in their field, but face challenges with leadership and people management. Understanding your cognitive, emotional, and behavioral patterns as a leader can significantly impact the productivity and morale of your practice. In gen…
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As a physician, you have tremendous skill and training to be an individual contributor. And, as you're shifting into a leadership role, you may find yourself needing to develop a whole new set of skills. Join me for an in-depth conversation with national physician executive coach and leadership development expert, Deborah Dorsett as she and I explo…
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In this episode, we tackle a topic that stirs a lot of feelings and opinions—Change Management. If you're leading a medical practice, you'll know what I mean. Change can be one of the most challenging aspects of managing your practice, especially when you've got multiple stakeholders—including physicians—who often have very strong opinions. So let'…
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In this episode, we talk about why it's important to focus on metrics and take the time to develop dashboards for your practice. How else can you reasonably measure the health of your medical practice? We talk a lot about measuring our patients’ health, and we have some great examples of this: quality dashboards, full chem panels, diagnostic report…
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Medical Money Matters celebrates it's first birthday! Heartfelt thanks to our entire audience, and all the folks along the way who have contributed either with advice, feedback or encouragement. It's been a journey. Join us for this brief retrospective, and our preview of coming attractions as we kick off Season 2 next week. Please Follow or Subscr…
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As a physician, you may be asking yourself if you should take on a leadership role…or maybe you’re already in one either in your practice, or within your hospital or another organization. As we’ve said many times in this podcast, we didn’t train you for this! Join me for this episode when I talk with Craig Wright, MD, a long-time physician leader w…
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Investing in real estate, including medical office buildings and free standing ASC's or Imaging Centers can be a huge part of any medical group's financial strategy. And, it can be scary. Stakes are higher, markets can be volatile, and a poor decision can cost you dearly. In this episode, I talk with Brad Christiansen, Executive Vice President at C…
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Return On Investment and Break-Even calculations are two crucial financial metrics that help you make well-informed decisions. While they may seem similar, understanding their differences is the key to using them effectively. Return On Investment gives you a percentage that indicates the profitability of an investment over time. Break-Even, on the …
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You use your EMR all day, every day, and you spend a lot to time and money on it. When was the last time you optimized it? And, how secure is it, really? Join me as I speak with national EMR expert Jensina Hawkins of Mocodile Medical. Jensina works with practices all over the country to assist them in optimizing their EMR. She and I talk about the …
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Today, we’re diving into a topic that often gets swept under the rug but holds immense significance—Understanding Your Scope and why, believe it or not, you shouldn't sweat it about that $500. So when I say "scope," I’m talking about the role you play within your medical practice. Are you a physician? A manager? A medical director? Each position sh…
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This episode digs into a topic that's close to my heart and incredibly relevant for the financial well-being of your medical practice—understanding Cost vs. Value in Business Decisions. Understanding this concept can be a game-changer in your decision-making process, and it can open you up to huge financial opportunities. The Cost Trap When it come…
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Are your practice expenses out of control? Do you wonder where all the money went at the end of each month? Join me for this episode where I talk with Matthew McCreith, a Cost Reduction Consultant with Schooley Mitchell. We delve into places where practices can find cost savings, and what to expect if you engage the services of a cost reduction con…
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You’ve probably heard the saying, "Easy come, easy go," right? But in medical practices, when money goes, it's anything but easy. It's stressful, confusing, and can throw a wrench into your operations. You’ve worked hard to provide care for your patients – why would the insurance companies clawback money they’ve already paid you? Insurance clawback…
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In a world where almost everything has moved online, cybersecurity is a topic that no one in healthcare can afford to ignore. Whether you're a solo practitioner or part of a large medical group, understanding how to protect your practice from phishing scams, social engineering, and other cybercrimes is crucial. Cybersecurity is a hot topic, especia…
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Today we're talking about Professional References. How do you get them and how do you give them, especially in our current climate of legal concerns? So, let's start with the basics: why are professional references so important in the healthcare field? References are like the trust currency in the professional world. They provide a third-party vali…
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Today we have a topic that doesn't just resonate with your wallet, but also with your heart and with your team’s morale. The practice of medicine isn’t just about the physicians and clinicians who provide care. It’s a collective effort, and today we’re talking about how to make sure every voice in your clinic is heard—especially those who do the "i…
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Today we’re diving into a serious and important topic, sexual harassment in the workplace within physician offices. We’ll be exploring the complex power dynamics involved, and focusing on how to mitigate risks, especially in the classic case of a male physician and a female staff member. First and foremost, we must understand what sexual harassment…
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Today, we're diving into a subject close to my heart: showing appropriate appreciation for your incredible staff members. They're the backbone of your practice, so how can you make them feel valued and recognized? We’ll explore why they need appreciation, how best to show it, and some brilliant solutions that are both free and cost money. Our patie…
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Delegation is more than just a buzzword. It's a vital skill that allows you to work at the top of your license, utilizing your full skill set, while entrusting certain tasks to the least cost, most competent person in your office. It's about efficiency, effectiveness, and empowerment. The modern medical practice is filled with complexity. As a phys…
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As the old saw goes, “If you don’t know where you’re headed, any road will do.” In thinking about Strategic Planning, there are entire books written on the subject. In the spirit of giving you the condensed version, my favorite statement about strategic planning is that it really boils down to answering three questions: 1. Who are we? 2. Who do we …
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We've talked in previous episodes about physician contracts, and have compared and contrasted them with physician compacts. At its core, a Physician Compact is a mutual agreement between physicians and their organizations. These are not legal documents, like a contract, but living, breathing agreements that serve as the foundation for mutual expect…
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Physician compensation changes are: a) A sticky wicket b) The thing administrators lose their jobs over c) More emotionally charged than any other practice topic d) Best when planned and communicated well e) All of the above E! Join us for this episode where I talk with national healthcare consultant and physician compensation expert, Steve Franey.…
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As an owner in your business, how much time and energy should you spend overseeing the operations? What constitutes too much oversight? What’s too little? We see altogether too many groups who have too little oversight, which means too many of the owners of the practice are not really paying attention to the business itself. The unfortunate outcome…
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Since we don’t give physicians any business training as part of your education, we see many groups that have governance, leadership and management totally conflated. We see groups of physician owners who spend far too little time in oversight, and some who spend far too much time in the day-to-day operations. The trick is to get it just right where…
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In several of our past episodes, we’ve been talking about when an employee is no longer effective for your group. In most cases, most of our team IS effective, and they generally fall on a continuum in terms of what they need from management and leadership: Coaching Counseling Disciplining and finally, if all else fails, Termination In working with…
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In a recent episode, we talked about when a leader is no longer effective for your group. As we said, it’s important to engineer a clean departure for them, and a severance package can go a long way to doing that. If your executive leader needs to be transitioned out, and it’s not voluntary on their part, a Severance Agreement can help to create a …
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Managing business risk is becoming a larger issue for medical practices every day. Risk of lawsuits and penalties or fines for being out of compliance is high, and with our society becoming more and more litigious, it is paramount to manage that risk. Good communication, good systems and good workflows can mitigate quite a bit of risk, and it's imp…
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We’ve been talking about the powerful leadership dyad – what if yours isn’t working? What if your executive leader is ineffective? Or worse yet, berating staff or being inappropriate with patients and creating risk for the practice? We’ve been called into many practices over the years where a leadership transition is taking place, or it is painfull…
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Terminating a physician’s employment is not anything anyone wants to do, but if it becomes necessary to part ways, some well-constructed Employment Contracts and Partnership Agreements can make this as smooth as possible. If they are not well constructed, you are leaving yourself open for all kinds of unnecessary expense and complication. In short,…
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Managing poor physician behavior…I can almost hear you shudder. We see many groups tolerating inappropriate, risky and even outright illegal behavior from physicians, especially those who are partners in their groups. It’s almost as if they can act with impunity, as no one sees it as their responsibility to coach, counsel or discipline a physician.…
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When making a decision about when to add a new clinician to a growing practice, it’s easy to default to making this on an emotional basis. You may think, “I’m crazy busy, and can’t possibly keep up this pace – we need to hire a new doctor!” Or, you’re hearing from your colleagues, “OMG, I can’t keep up – too many new patients – we need to add someo…
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