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Why Should Physicians Care About Hospital Finances?
Due to the global financial downturn medical establishments across the world are having to deal with the harsh reality of the lean times after the boom of the last decade.
Medical staff are frustrated with reimbursement going down, overhead costs increasing, and management dealing with shrinking operating margins and fewer resources to invest in the medical staff.
Hospitals cutting down on medical staff membership and privileges, investing in more ancillary revenue, aggregating clinical practices into large entities, or direct employment could solve this economic collision course.
Initiatives towards greater financial medical staff / hospital alignment are required to build a more collaborative relationship between the medical staff and hospital thus providing more successful physician practices, a more successful hospital and better care for the community.