Is business knowledge necessary for successful physician leadership? 90% of physician leaders think so — 5 key notes

A study form the American Association for Physician Leadership and the Navigant Center for Healthcare Research and Policy Analysis shows physicians support increasing healthcare service values through improving quality and lowering costs, according to a Modern Medicine report.

The survey included 2,398 physician leader respondents.

Here are five key notes:

1. More than half — 55 percent — said the ACA has "more good than bad" and 9 percent agreed physicians should be held accountable for costs of care.

2. An overwhelming 90 percent felt reducing unnecessary care that isn't evidence-based is an important issue and 57 percent agreed accountable care organizations would be a permanent model for risk-sharing with payers in the future.

3. There were 47 percent of the respondents who said their organizations had a leadership development program and another 16 percent reported plans to create one.

4. More than half — 58 percent — agreed transparency about physicians' business dealings was a positive trend.

5. The physicians also felt business knowledge was necessary to being a successful physician leader — 90 percent felt understanding finances and access to capital was important and 78 percent said knowledge in evaluating risks associated with acquisitions or new businesses is important.

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