Laurie Morgan

I read a little anecdote about Jeff Bezos today that made me smile. It's a self-deprecatingly humorous memory from the startup days of Amazon, and it contains a lesson so important that Bezos remembered it more than five years later. I won't spoil it for you, because it's a fun read. And it's super short. Click here to read it. What I love about the story is how perfectly it illustrates that all of us—no matter how smart, experienced, or motivated—have blind spots. We can be especially susceptible to them when we're deep in the weeds of work, or when we perceive our work has high stakes attached. These situations can keep us wedded to work assumptions that no longer serve us. What I most love about the story, though, is that Bezos was open to having his assumptions upended by an employee. He must have been humble enough in that moment that his employee felt comfortable speaking up. And Bezos had the good humor and smarts to see immediately that the employee's idea was way better than his own. In any business, employees are often an underutilized source of creative solutions. They're closer to processes and problems. Listening to them is a big part of a consultant's work—but physician practice owners and practice managers can do it, too. (And it won't cost a penny!)    

I'm excited to announce I've got a new free webinar coming up! This one's sponsored by Solutionreach. The subject is "7 Easy Ways to Collect More Revenue." The tips are (mostly) very easy! They're applicable to most specialties, too. I think Sign up here for the March 6 presentation (or to get a link to the recording afterward).  

I had an inspiring conversation with a young physician recently. He is looking forward to one day owning a practice. He envisions himself establishing a practice ethos that encourages colleagueship and respects physician excellence. “Expert culture,” he says, is the key to physician engagement and avoiding burnout. His passion was infectious. I can’t help be animated by the idea of brilliant doctors motivating each other to be even better! Moreover, like many of us in healthcare, I’m concerned about the rise in physician burnout, and I agree with this ambitious doctor that more respect for expertise could help alleviate it. But a question occurred to me as we were talking: What about applying the same thinking to the business side of medicine? The idea of setting a similar standard of professionalism for administration may not be intuitively obvious. It only makes sense that clinical expertise is king in our practices. Sometimes, though, even unintentionally, acknowledging this can translate into a more casual attitude about the administrative work being done to support the practice of medicine. This can mean that important business pillars of the practice are not as strong as they could be. This is not unique to medicine. It’s become a cliché that law firms, for example, often struggle with business management, despite being populated by brainy overachievers. Many fast-growing startups are created by smart people with an avid interest in a particular invention, technology, or service—and less interest in the daily nuts-and-bolts of management, which gets the short shrift. In all these examples, when management takes too much of a back seat, the financial success of the organization—and even the ability to achieve the core mission—may suffer. Adopting the same professional standards on the business side that you aim for on the clinical side can help avoid unnecessary costs. What’s more, it can encourage profitability and growth, building the value of your asset. It can also make your practice a much more pleasant place to work! So what are the hallmarks of a professional practice organization? Here are a few: Formalized, forward-thinking human resources policies Small businesses of

If your practice is looking to add new staff, either as replacements due to contagious "Great Resignation" exits or as you contemplate expansion, you're likely facing a tough labor market. Give yourself the best chance of attracting the right people by using all of the assets at your disposal—including presenting your location in its best possible light. Location may not seem like a particularly valuable asset for recruiting staff. Won’t job-seekers simply search for open positions near them? How can location be an advantage when, for most people, the city where they’ll work is a simple yea or nay decision? It’s unlikely staff workers will be lured from far away based solely on the city you’re in, but details about your specific location can make your job more attractive to the candidates looking for work in your community. Here are a few to consider spotlighting: Nearby amenities Many candidates will focus primarily on how far away your office is from their home, not realizing that the surroundings of the workplace can provide a lot of convenience and enjoyment. For example, if your office is close to amenities like a shopping district, promote that. In many locations, cities are working hard to lure businesses to re-energize their downtown neighborhoods--and so are the local businesses that populate these zones. A convenient downtown location can make it easy for staff to pick up essentials or just have a fun break during lunch. Burdensome errands like going to the post office, library, or DMV may be easier and more pleasant to accomplish. An affordable gym nearby can make it possible to squeeze in workouts before or after work. (Maybe you can even negotiate a membership discount for your staff.) And if your office is located near walking paths (or just in pleasant environs for strolling), staff can take advantage of that, too—and get fresh air and exercise during lunchtime for free. Office setting matters, too Is your office in or near a major medical center? Are you surrounded by many medical offices? This can be an advantage for job-seeking healthcare workers. Especially when starting

My two newest PracticeLink articles are on a subject that's top of my mind: burnout (what it is, how to spot it, how to respond, and how to think about it in the context of a job search). I had the chance to talk to several well-informed, passionate, thoughtful physicians in pulling the piece together. If you're interested in the subject, I'd love to hear any comments on the article that you care to share. The second, shorter piece is aimed at physician recruiters. (Is there anything I didn't say that you'd like to tell them about burnout?)   By the way, I've got at least four more PracticeLink features booked this year. I'm always looking for sources. If you're interested in commenting (and helping out residents and fellows who are starting their job searches), I'd be delighted to speak with you. (I promise it will be painless... dare I say it, even a little fun! Plus you'll be helping physicians who are just starting out by sharing what you've learned so far in your own career.) Some of the topics I'll be working on: different ways to practice (cruise ship? overseas? I'll be looking to learn about any practice settings that are outside the norm of expected physician recruiting) what to look for in a potential employer (beyond compensation) how to shine in your job interviews -- from first contact through the interview process what lawyers look for in physician employment contracts

Practices have begun to resume services and urge patients to resume care, especially patients who’ve put it off because of anxiety about COVID-19. While ensuring (and communicating about) patient safety naturally takes center stage, the revenue side of practice management needs extra attention, too. Patients may hesitate to visit your office not just because of fear of infection, but because of financial concerns. Some patients face uncertainty about their job security. Some may have already suffered a job loss (and even a corresponding loss of insurance). For patients who are struggling financially, or simply anxious about money, anything but urgent health concerns may be pushed to the back burner—even though this might increase the risk of more dangerous problems down the road. Of course, practice managers and physician owners also have their own financial concerns to contend with. Generating and capturing revenue is crucial to ensure employees can be retained and the bottom line remains healthy, especially as government supports expire. The high cost-sharing many patients face may seem like a formidable obstacle when patients are already nervous. But there are ways you can shore up your practice’s financial picture and collect more effectively from patients—without jeopardizing your patient relationships. In fact, with the right efforts, your practice may be able to improve both your financial picture and the patient experience. Provide accurate information One way practices can help reassure patients is by helping them get a handle on their costs. Often, the out-of-pocket owed is less than patients fear. Even when it will be more than they hoped, patients will be better served by a straightforward and honest conversation about costs. Providing accurate information depends on staff training and technology. Be sure your schedulers are aware of how to access an up-to-date estimate of costs from your patients’ health plans. Proper training, including role-playing, can help staff become more comfortable with broaching financial terms. Sharing this information with patients at the time of scheduling also provides an opportunity to set up a credit card on-file to process payments after services are provided. Storing a credit card (in a PCI-compliant

In recent years, clients and friends of C&M have been involved in practice acquisitions or mergers. In many of these cases, a practice in a nearby area has come up for sale, perhaps due to retirement or death of a physician owner. These can be exciting opportunities, but stressful, too. There is usually pressure to respond quickly. And, of course, the decision usually involves a significant investment. (And one of the stressful aspects of it is that the total investment--not just the purchase price, but all costs involved, before, during, and after the transaction--can be hard to project and easy to underestimate.) The need to move fast often makes it hard to even think through all the questions you want to ask -- much less get answers to all of them. When the pressure's on, fear of missing out may take over. But if you move too fast, you may "win" the opportunity without realizing what it really costs. "Buying the practice down the street" may be a fantastic way to quickly expand your practice, but it's not without significant pitfalls. Information and a solid plan are your best tools for protecting your interests. In this short webinar (about 30 minutes), Laurie Morgan outlines some of the key questions to consider when deciding whether to buy a nearby practice. To view the recording, click this link. You'll be asked to register. Once you confirm, you'll receive a link to the video page. Once you've watched, we'd love to hear from you if you have questions. And, of course, we're at-the-ready to help you with consulting services before you make a purchase decision (or before you put your practice on the market). Use the contact form to email us or give us a call.

It may seem hard to believe—I know it does to me—but we’re approaching the last quarter of 2019. The summer season goes by fast, probably for obvious reasons, and when autumn arrives, it feels like it sneaked up on us.Of course, for many practices, there’s another reason it feels like a stealth attack by the calendar: the workload can go from one of the slowest times of the year to one of the busiest, seemingly overnight. This time of year can be crucial for your profitability. With many patients wanting to book services before the end of the calendar year, especially those who’ve met high deductibles, it’s an opportunity to meet patient needs and make more money. Now’s the time to plan how you’ll make the most of this busy time of year, without unnecessary stress. Here are some of our favorite tips for maximizing the upside of this season—while also staying well and enjoying what this high-productivity time of year. 1) Set a plan and get everyone on the same page Many of our practice clients seem to have an allergy to staff meetings! We understand the fear of wasted time. But at this crucial time of year, a group huddle can help make sure everyone knows what to expect and, above all, understands why the season is so important to practice health and stability. (This is likely obvious to physicians and practice managers, but it may not be to your staff.) Patients who know they’ve met their deductibles will be anxious to book care that they’ve put off. That means staff may need to be a little more patient when patients are less so. Patients will also likely be confused about their insurance, so making sure everyone knows the right way to answer their questions is critical (even if the right answer simply means knowing who to transfer their call to). If anyone on your staff is rusty on your technology capabilities or the billing/scheduling rules they’ll need to explain make sure you encourage them to speak up without feeling ashamed. Review your scripts and manuals, and assess

We've started a new website feature you might like. We're listing some of our favorite famous inspirational management quotes (along with a few of our own). Classic quotes are fun and useful because the gurus who said them figured out how to succinctly express management ideas that can sometimes be obscure in practice. One of our favorites deals with a brutal truth of managing employees: Peter Drucker's advice to "accept that we have to treat almost anybody as a volunteer." You've got the title and you sign the paychecks. In theory, that gives you a lot of leverage. You can insist on having everything your way, at least for a little while. Eventually, though, a dissatisfied employee can put on his or her walking shoes and go work somewhere else. This freedom to hit the road goes double for people in high demand. (Like, say, physicians in practically any specialty, or talented administrators or billers.) If you're finding your practice is experiencing a lot of turnover in key roles, it can be very costly for your business. And even before they leave, unhappy employees can harm your practice with low productivity, negativity, and, in extreme cases, even sabotage. So how can thinking of employees as "volunteers" help you improve morale and retain key people longer? Here are a few things to consider: The idea that employees are "volunteers" means more than just "they can leave." Modern employees want to be inspired by their work. They want workplaces that align with their values -- just as they would if donating their time. This doesn't mean you should retool your practice culture to match the preferences of every new hire. What's more important is to know your culture and be clear about it when hiring. That will help you avoid a costly revolving door of employees whose expectations weren't met. And what if you suspect parts of your culture or your work standards could use an upgrade? The upside of better morale and lower turnover is a good reason to consider making needed changes. Money is important. Make sure you're not notably

In recent years, many of our clients and friends have been involved in practice acquisitions or mergers. In many of these cases, a practice in a nearby area has come up for sale, perhaps due to retirement or death of a physician owner. These can be exciting opportunities, but stressful, too. There is usually pressure to respond quickly. And, of course, the decision usually involves a significant investment. The need to move fast often makes it hard to even think through all the questions you want to ask -- much less get answers to all of them. When the pressure's on, fear of missing the opportunity may take over. But if you move too fast, you may "win" the opportunity without realizing what it really costs. "Buying the practice down the street" may be a fantastic way to quickly expand your practice, but it's not without significant pitfalls. Information and a solid plan are your best tools for protecting your interests. In this short webinar (about 30 minutes), Laurie Morgan outlines some of the key questions to consider when deciding whether to buy a nearby practice. To view the recording, click the link. You'll be asked to register on the video page. Once you've watched, we'd love to hear from you if you have questions. And, of course, we're at-the-ready to help you with consulting services before you make a purchase decision (or before you put your practice on the market). Use the contact form to email us or give us a call.   "Should You Buy the Practice Down the Street?" [on-demand recording - registration required]