Corporate Agility

Peter Polack — Fri, 29 Feb 2008 23:06:54 +0000

I recently read a book entitled Corporate Agility (Grantham et al, 2007 AMACOM). And although initially I thought it was just applicable to large corporations, I realized that in fact it could be very useful for the typical medical practice. It describes a process known as collaborative strategic management (CSM). This is a strategic approach to management that incorporates three main areas: human resources (HR), information technology (IT) and corporate real estate (CRT).

The main principle of CSM is that, although these three areas may seem completely distinct, they need to be thought of as interdependent. Most of us are familiar with the terms HR and IT, but what does corporate real estate mean?

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Solo Practice – An Endangered Species

Peter Polack — Fri, 18 Jan 2008 02:14:51 +0000

One- and two-doctor practices may become a thing of the past as an increasing number of physicians are being wooed by hospitals.A recent article in the American Medical Association News magazine reports that solo practices may be becoming a thing of the past. According to a study by the Center for Studying Health System Change, during the period between 1996 and 2005, the percentage of one- and two-physician practices declined from about 41% to 32%, while single-specialty groups with 6 or more physicians increased from about 13% to 18%.

Joy H. Grossman, PhD, a co-author of the report, credits such issues as a better work-life balance and a perception of less hassle as a reason for new physicians preferring to join larger groups. Practices across the spectrum have seen decreasing salaries despite increased productivity, and solo practices are less able to absorb this financial impact.

Hospitals have had a sharp rise in the number of physicians they are recruiting, usually at the expense of these smaller groups. Another report discusses the increasing number of proceduralists (physicians who only perform procedures and do not have their own patients) being hired by hospitals.

So what does this mean for existing practices? Well, solo or small practices will find themselves competing with hospitals for the brightest and the best of the new doctors coming out of training. Larger practices may take some solace in the fact that new physicians are more likely to want the infrastructure and financial stability that they are offered, allowing them to focus less on operating a practice and more on the practice of medicine.

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Corporate Agility

Solo Practice – An Endangered Species