NFMGMA September 2013 Educational Session – 10 Things Doctors Need to Know to Increase Revenue

Sarah J. Holt PhD, FACMPE

by Richard Stokes

If you were to poll a group of physicians, I am certain that you would find that the reason they got into the field of medicine in the first place was out of a desire to help others. Unfortunately, and call this a cynical viewpoint, the world runs on something other than this selfless desire. The world runs on money! And, if a practice can’t make money then, regardless of how much of a desire there is to help others, it’s not going to stay in business for very long.

Therefore, physician’s practices, like any other businesses, have to be able to turn a profit. And like lots of businesses today they’re all looking for ways to maximize revenue by being more efficient and effective.

This is what Sarah Holt, clinical administrator for Cape Girardeau Surgical Clinic and Breast Care Center in Missouri, tells me and, as luck would have it, she is going to be speaking to us about this topic at September’s NFMGMA event.

Sarah is a nationally recognized speaker on health care management topics and she is also the author of two books published by the MGMA – one of them entitled ‘Get the Money in the Door.” So, I have no doubt that she is going to have some great information for us on this topic.

Sarah tells me that her presentation is intended to help medical practice executives increase their personal knowledge and skills so that they may help their physicians be more effective and, therefore, more financially productive. In addition, she is going to be teaching administrators how to use revenue as the primary driver to lead physicians where they need to go in order to reap these financial benefits.

Some of the things that she wants us all to learn are:

• An understanding of how to develop the use of good leadership skills
• How to establish an environment of trust
• How to gain knowledge of personalities within your practice
• How to utilize emotional intelligence to effectively communicate with physicians

With this newly gained knowledge she says that you will have the skills to be able to develop an environment of trust with the physicians and address issues as they arise. You will also be able to relate the impact that these issues have on revenue to the practice and be able to share that with your doctors.

We all want to be more efficient and make more money for ourselves and our respective practices. So if you haven’t already registered for this month’s event, what are you waiting for? Feel free to share this with your peers and colleagues and invite them to attend as well. North Fulton MGMA. I hope to see you all there.

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