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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 of that in many cases is embezzlement. Or, sometimes it is limited to a loss of control over important business functions, or a loss of data if someone in a key role leaves abruptly, without a handoff or any cross training.

In many cases, following a poor outcome from having too little oversight, we see groups boomerang, and wind up with way too much oversight – physicians are way too involved in the day-to-day, not trusting, not delegating, and with all good intentions, they wind up wasting a lot of time and effort.

In the vast majority of situations, instituting some simple internal controls and appropriate oversight would solve their problems. Please Follow or Subscribe to get new episodes delivered to you as soon as they drop!
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Episode 34: What is Appropriate Oversight by Owners?

Medical Money Matters with Jill Arena