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War Story #7
| Business Type: |
|
Medical Group |
| Challenge: |
|
Weak financial leadership |
| Work
Performed: |
|
Trained practice manager to be better at financial reporting and analysis |
| Benefit
Provided: |
|
Improved
cash flow,leadership of staff, and relations with medical staff |
|
| Long-term
Result: |
|
Practice
grew and became more profitable |
|
|
This specialty group of about 10 physicians needed to
improve the financial management skills of the practice manager along with certain
leadership skills. Rather than seek another more experienced practice manager, the
management committee asked for an assessment of the practice manager's skills and
potential to be developed as a manager. Based upon a review of the educational background,
current performance, and willingness to learn, it was agreed that it would be a wise
investment of time and money to develop the current practice manager.
The story ends "happily ever after" based upon
the performance of the practice manager and the medical practice's growth.
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