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I see far too many practices who underinvest in executive leadership. I can speculate on the various reasons for this, not the least of which are cost and ceding control, which feels uncomfortable.

I frequently speak with physicians who don’t know what is reasonable to expect from their executive leadership. In short, the person or the team who has been hired to run your practice should be your trusted partner and should be looking out for all aspects of the business part of your practice. He or she should be able to create a budget as we reviewed in episode 3 and then manage the revenue and expenses to perform within that budget. They should continually be seeking out ways to save money, and they should also be on the lookout for new sources of revenue. They should also have human resources skills and knowledge sufficient to manage your team as we discussed in episode 23.

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Episode 24: Investing in Executive Leadership for Your Practice

Medical Money Matters with Jill Arena