The mindset blocking ASC owners & surgeons from financial success — 3 takeaways

Surgeon Cory Fawcett, MD, penned a blog post on short-term thinking that hinders surgery center management and finances. He is the author of The Doctors Guide to Eliminating Debt.

Three takeaways:

1. When Dr. Fawcett sat on a surgery center's management committee, he noticed the owners didn't bring all their cases to the facility, despite the financial benefits of increasing the center's caseload.

2. If surgeons think short-term, they demand short-term incentives, Dr. Fawcett said. "We can't promise they will get a bigger profit share check at the end of the year. We have to give them something this month. Profits need to be paid immediately if we want it to be a good incentive," he said.

3. Short-term financial thinking, according to Dr. Fawcett, means looking at the monthly payment instead of total cost. To get ahead, surgeons must look at long-term outcomes.

More articles on leadership:
Outpatient care center anesthesiologists' pay tops that of CEOs — 10 salary statistics
SCA surgery center in Minnesota seeks new administrator — 3 highlights
Looking for ways to improve nurse training & growth volume at your ASC? 2 leaders weigh in

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months