Accelerated Physician Executive Leadership
Furst Group Development Series
As the U.S. healthcare system continues to evolve, and new business models to deliver and finance care are created, managing a healthcare system in today’s market requires leaders who can adeptly balance clinical experience with business acumen. The truth is that the advent of accountable and value-based care means that leaders with clinical backgrounds are becoming more valuable than ever to healthcare organizations. Recognizing the need to leverage clinical expertise when filling the leadership bench, the top five hospitals in the U.S. are led by physicians – all told, 10 of the top 18 have clinicians at the helm. (1)
Once moving below the top 20, the numbers are not as favorable. In fact, two-thirds of hospital CEOs note physicians make up a mere 10 percent of their leadership team. (2) What’s important to note is that differences in credentials have a profound impact on the success of the organization. When doctors get the opportunity to lead, hospital quality scores go up. A particularly dramatic example is in oncology: quality scores go up a stunning 33 percent with a physician in charge. (3)
Developing your physicians as leaders also impacts the bottom line. A Pepperdine University study reveals that hospitals that don’t develop and promote leaders spend four times as much to recruit new physicians to the team. (4)
However, the task isn’t as simple as appointing an M.D. to the C-Suite. Physicians, like any other professionals, require specific training and development to develop leadership capacity and competency.
Furst Group’s intensive physician leadership program helps doctors accelerate their acclimation into leadership positions, and helps organizations build alignment as they embed trained leaders with clinical expertise into key roles.
We focus on critical success factors through proven ways of learning, which include executive mentoring, classroom experience, team interaction and executive coaching designed specifically for physician leaders.
As demand has grown for these services, our consulting has grown into a full-fledged sister company, NuBrick Partners, which works alongside Furst Group to address emerging needs of our client organizations.
The stakes are high. Find out how your organization can better engage, develop and integrate physician leaders today.
- “The Value of Physician Leadership,” Physician Executive Journal
- American Hospital Association, 2014 AHA Environmental Scan
- Amanda H. Goodall, “Physician-Leaders and Hospital Performance: Is There an Association?”
- “Impact of Talent Management Practices on Hospital Clinical, Financial, & Workforce Metrics”