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Forming a joint venture with another healthcare organization may be seen as a plausible solution. The success of a joint venture though highly depends on thorough research and analysis of the objectives. Here are some pros and cons of joint ventures for medical practices.
Mergers represent a challenging and risky strategic decision. The decision to merge should be fully challenged before physician groups decide to go ahead, particularly given the average performance of the returns and the risk associated with the potential outcomes.
Nomad has created a digital platform that helps healthcare professionals looking for work connect with healthcare facilities looking for staff without the need to go through a third-party recruiter or broker.
A joint venture is an agreement between two or more healthcare entities usually entered with a specific goal in mind. Each party is invested in terms of capital contribution, the time and effort put forth to complete the defined tasks. The partners pool their resources and expertise and share in the risks and rewards.
From hacking into medical devices to altering AI algorithms, cyberattacks pose a threat to human health and could even be fatal. Healthcare organizations must understand the true extent of these types of threats and put into place the right proactive measures—the public's trust depends on it.
EHRs weren't designed to enhance the doctor-patient relationship, but there are simple ways doctors can refocus visits on the patients.
In an increasingly self-serve society, healthcare organizations must offer sophisticated patient portals and patient engagement technologies in order to bring value to patients and efficiencies to their organizations.
Richard Baron, the CEO of the ABIM Foundation, talks about how professionalism can help physicians shape a more satisfying career in medicine. This involves championing stewardship of resources on behalf of patients, engaging in social justice, and finding joy in the practice of medicine.
Succession planning isn't something you can do once and forget. It is also advisable to have at least annual discussions with key employees regarding succession planning, including how to manage effectively during a transition.
In order to estimate out how much disability insurance doctors need, they have to figure out how much life would change if they suddenly couldn't work.
For those that are considering merging with another private practice entity, there are many things to strategize about vice just assuming there will be a windfall of benefits by consummating a merger.
Communication failures are a contributing factor in 27% of medical malpractice claims. Eliminating them could reduce medical errors and patient injury.