Here Is Why You Can’t Afford To Miss The Next Practice Management Seminar

Last weekend I had the privilege to present at the Pediatric Management Institute (PMI) seminar in Oakland, CA. It was the first time presenting at a PMI event. Paul Vanchiere and his team put together a great seminar.OAK.001Not only were the topics informative and relevant, but the speakers did an awesome job of presenting the material in practical ways. Dr. Richard Tuck, such as, presented on various coding topics including ICD-10. Tough assignment. But he made it work.Dr. Nelson Branco gave attendees a look a different emerging pediatric models, Chip Hart walked us through the process of setting up a practice’s fee schedule, Sumita Saxena from the Verden Group gave us a lot to think about with regards to potential legal pitfalls in areas like human resources and PMI’s very own Paul Vanchiere covered a couple of topics, one of which was budgeting.Best of all? Seeing 65+ doctors, office and practice managers eager and enthusiastic to learn, explore, discuss and share ideas. As I caught up with old friends and met new one, it was clear that times are indeed challenging. But in spite of all the different issues independent practices are confronted with (e.g. hospital consolidations, large networks getting larger, acquisition, managed care, rise in hospital employed physicians), one thing was for certain; nobody in attendance was there to defend the status quo.

OAK.002I heard a lot of great stories. From a young physician that decided to open up her own solo practice so that she can, among other things, practice pediatrics on her own terms, to the group of practices in Chicago that decided to band together to form a super group to leverage the administrative synergies that come from working under one entity. These are just two examples of many.

There was one bad thing about the seminar that I can’t keep to myself. And that is, there weren’t enough pediatricians (and their staff) in attendance.

I think a seminar as rich as the one PMI put together ought to have been attended by thousands of pediatricians.

Why? Because the need for pediatricians and their staff to learn how to manage their practices better or as I like to called it, learn the business of pediatric, is more important than ever before.

OAK.003It goes without saying that just because your business is a medical practice you won’t be affected by the same market dynamics that other business have. But unlike other businesses, the stakes are higher for pediatricians.

Why? Because our customers (parents and patients) are depending on us to succeed. Otherwise, who is going to give the personalized, here-we-know-your-name type of care they’ve grown accustomed to?

The truth is it will be difficult to succeed staying on cruise control. The status quo is almost never a great long-term strategy.

If I got a chance to talk to you during the conference, I want to thank you for the inspiration. You’ve renewed my enthusiasm .

OAK.005And for those of you that could have made it but decided not to, I really hope you commit to attend a practice management seminar this year (at the very least, a coding and billing seminar). Your staff, your partners, your patients and the community you serve will be glad you did, even though some of them will never know it.

Until then.

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