Medical Practice Management
Mar 25

Physician leaders should bring your data when pitching expenditures to partners

If you want the doctors in your group to make a major financial commitment next year, bring data when you make your pitch.

Passionate opinion drives most shareholder meetings (annual or otherwise). However, as we all know, you’ll face stiff resistance when battling that opinion. Switching the debate to;clarity of argument supported through data; provides your best chance to sway skeptics’ opinions.

Gathering that data and preparing the presentation for the meeting becomes the challenge of the leader doctor and top manager. Usually, there’s a problem or challenge the group must address — sometimes, hopefully, an opportunity. Don’t begin discussing the issue at the meeting; the leaders should come into the meeting with a proposed solution or plan for what action the group ought to take.

And once the discussion starts, don’t stop until you address these five objectives:

1. Create a plan for the group’s next step.

2. Identify resources for learning about the situation

3. Squarely address the need for time and money.

4. Agree on how you’ll measure success or failure

5. Assign responsibilities and accountability.

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →