Hospital and health system performance is tightly intertwined with the strength of its medical staff. At a time when well-capitalized disruption ramps up pressure on margins, leaders and boards must consider how they invest in employed physicians, make decisions that restore a high-performing physician strategy, and ensure a strong balance between provider initiatives and enterprise objectives.
Leaders need a compelling and sustainable physician enterprise strategy that is in sync with varying market forces. The value proposition and vision that disruptors present for physicians could prove attractive to those ready for a change. Now is the time for hospital and health system boards and leaders to intensify efforts not only to gain value from and protect their decisions but also pivot to where the market is going.
Here are six ways hospital and health system leaders can maximize their physician enterprise:
Understand how consumer preference is changing in your community.
Define and share metrics that matter.
Update the strategic role of employed physicians to meet evolving needs.
Align compensation and incentives with the organization’s goals.
Ensure physicians are operating at the top of their licenses.
Invest in technology that attracts patients and makes care easier for physicians.
By rethinking the approach to physician enterprise strategy, hospital and health system leaders can deepen relationships with physicians while better positioning their organizations for success.