It takes more than money. Keys to success in leading and managing physician groups

Hospitals, health systems and physician practice management companies (PPMCs) that have acquired physician practices are losing millions of dollars a year on those practices. They wonder. "We're paying those physicians a lot of money. They should be highly motivated employees. Why aren't they?" Managing physicians with compensation is not enough. To manage physician groups well, all the interests and values of physicians must be addressed. Managing a physician group requires a management style that actively involves individual physicians. This article presents our insights into structuring the leadership and management of physician groups.