Hospitals are acquiring or partnering with medical practices at break-neck speed and for good reason. It makes sense to align with physicians in a changing marketplace. It will strengthen the hospital’s position for both bargaining power and marketing their brand. Physicians on the other hand, fear the unknown and are often uncertain about the strategies they should take to protect or improve their future. If you are approached about the possibility of joining forces with a hospital do you know what you would do? Here are some things for you to think about.
The first step in consider partnering with a hospital is to clarify the opportunity by gathering information. Examine your own motivations. What is it you hope to gain and is it realistic? At the same time, it’s important to understand the hospital’s agenda and determine if, in fact, their motivations are clearly aligned with yours.
Remember all successful relationships are built on trust. You can avoid a head-on collision if you ask the difficult questions and get honest answers upfront. At the same time, you must we willing to be open in your communication by discussing what you want and hope to gain, and what concerns you may have. Whether it’s about their motivations, their leaders or how they want to structure the contract. If it doesn’t feel right, it probably isn’t going to work unless you resolve the issues that make you uncomfortable with the deal. It is only through honoring your differences and negotiating in earnest that you can work toward common goals that align motivations and lead to success. In order to share your future you must develop trust and common goals, and build a vision that everyone stands behind.
Check out my free mini-webinar on working with hospitals and systems without losing yourself, presented by the AOA — part of the Power Up series.
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