You bought the medical practice, now how do you market those physicians?
Recent figures indicated that owned medical practices by hospitals and health systems are losing $170K a year. It's causing a lot of angst in the leadership suite and with the Board of Directors in hospitals and health systems. And everyone knows these losses are unsustainable. There are of course many reasons for this, some are structural, some are organizational, some are cultural, some are management decisions made and all playing a part in why the practice is losing so much money. But one reason should never be because you don't market that medical practice effectively. And sadly, there is a lot of ineffective medical practice marketing going on by hospitals and health systems. Medical practices are one of the few remain opportunities to drive volume and revenue. Its sure not the hospital, that's the last place you will be wanting to drive volume, especially to the inpatient side. The drive to create ACOs in a value-based payment environment demands a different t...