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Programs are now more affordable and time-sensitive; use them to survive market uncertainties.
As a physician, here’s something you probably know all too well; a pandemic is an exceedingly difficult time to lead an independent medical practice. Just weeks into the pandemic, the Medical Group Management Association (MGMA) found that COVID-19 had a negative financial impact on 97% of the 724 medical practices it surveyed. But evenbefore COVID, it was still a challenging field.
Small group and independent physicians are working harder than ever before, dealing with everything from complex value-based payment arrangements, to the ongoing acquisition of physician offices, to ever-changing technology. And yet, history tells us those physician leaders who acquire the right set of skills can better weather the uncertainty. The key is gaining the knowledge that will help you not only compete, but capitalize on current trends in healthcare. Online programs are one way to gain the knowledge needed.
There are a number of skills today’s independent physicians need, either for themselves or their administrators. These range from financial planning to staffing decisions. But if COVID has taught us anything, it’s that knowledge of other areas is needed as well. These include:
In the new era of virtual-everything, taking programs to build these skills has become more convenient. Additionally,many certificate programs and online degrees are now accessible financially and take less time to complete. The advice I always give students is,
Going “back to school” takes an investment of time and energy; however, finding the educational programs that meet the needs of you and your practice can provide many benefits. One of the most important is the ability to connect with industry experts and peers who can share their experiences and provide new ideas and solutions.
Additionally, taking programs to gain the skills and insights to survive the current market uncertainty can now be accomplished in convenient and affordable ways. And that experience may well prove to be what you need to future-proof your practice, prevent burn-out, and ensure you continue to meet the needs of your patients.
Julie DeLoia, PhD is the Chief Academic Officer for Dignity Health Global Education (DHGE). Dr. DeLoia is both a distinguished scientist and academic administrator who has taught at all levels of higher education.