14 THE FINAL CHAPTER: ARE YOU A GREAT DOCTOR?

In the book Good to Great, which is mandatory reading for most business students, author Jim Collins discusses the principles that guided successful companies and made them great. The same principles apply to a successful physician practice. So what really transforms a well-trained physician from Good to Great?

There are the five most important benchmarks:

1. Physician Leadership: The physician actually sets the vision and core values for the practice and is actively involved in the day-to-day management of the practice. The business of medicine is not a part-time job done after clinical work is finished; it is rather an ongoing rigorous process in which an efficient and successful practice is the major goal.
2. Management Support: Good support with excellent managers dedicated to clinical operations, billing, finance, and compliance.
3. Strategy: There is a plan for the practice in terms of its scope and expansion. The practice growth strategy is researched, planned, implemented, and reviewed.
4. Risk and Reward: There is an appropriate balance in taking risks and the potential for rewards with expansion, acquisitions, or mergers. Risk is minimized with a good compliance program.
5. Staffing: The entire staff is part of the team and is passionate about the core values of the practice.

Here is a self-test and suggested scoring system. Notice that clinical excellence is not mentioned, because it is a given. Better yet, ask your colleague to evaluate you.

If you have implemented these benchmarks, then you will be able to proclaim yourself a GREAT DOCTOR!

TABLE 7: EVALUATION OF GREAT DOCTORS