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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 leading the group is concerned.

Governance concerns itself with how the entity is run, how it makes decisions, and who is empowered to make decisions at what level.

It’s important to remember the Board’s relationship to management – when we think about the above descriptions, and how the owners get involved in Governance vs. Leadership vs. Management, this really becomes an exercise in delegation of authority. You cannot have the entire board or ownership group involved in the day-to-day running of the practice. It’s not practical and it’s not effective.

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Episode 33: Governance vs. Management – Utilizing a Decision Matrix

Medical Money Matters with Jill Arena