Value extra administrative duties

Because you can’t measure administration outcomes like clinical outcomes, it’s difficult to convert administrative worth to dollars. However, medical groups must pay attention to the business side of their practices, and physicians must be involved. That’s why many experts stress that a “group mentality” emphasizes doing your share of extra duties for the common good.

However, when your needs require above-average adminstrative abilities, remember that all members benefit from the efforts of those who spend extra time and expertise on important business-related matters. Consider paying for that effort similarly to you would if you hired an outsider.

Successful physicians learn to strike a balance between clinical and administrative efforts. Still, most physicians prefer to spend their time on clinical practice and typically the ones with the skills and interest end up doing the extra administrative work. So when you think that work goes above and beyond typical partner expectations, be open to paying fairly for it.

This nugget was adapted from Solving Partner-Level Challenges, from Advisory Publications, a division of HCPro, Inc. To order, click here or call their Customer Service Department at 800/650-6787 for more information

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.