MGMA Week in Review: Navigating Value-Based Care and Leadership Traps to Avoid
Download MP3Host: Daniel Williams, Senior Editor, MGMA
Cohost: Cristy Good, Senior Advisor, MGMA
Introduction:
In this episode of MGMA Week in Review, Daniel Williams is joined by Cristy Good, Senior Advisor at MGMA, filling in as co-host. The episode dives into two key topics: the challenges of adopting value-based care and advice for leaders transitioning into new roles. Cristy shares her insights into the upcoming MGMA Leaders Conference, where she will be a featured contributor for the Operations Management edition of MGMA’s Advanced Strategy Series.
In this episode of MGMA Week in Review, Daniel Williams is joined by Cristy Good, Senior Advisor at MGMA, filling in as co-host. The episode dives into two key topics: the challenges of adopting value-based care and advice for leaders transitioning into new roles. Cristy shares her insights into the upcoming MGMA Leaders Conference, where she will be a featured contributor for the Operations Management edition of MGMA’s Advanced Strategy Series.
Key Takeaways:
- Challenges of Value-Based Care: Many practices face hurdles in adopting value-based care, including administrative burdens, resource constraints, and insufficient payer collaboration. Smaller practices, in particular, struggle with the upfront costs of transitioning to this model. However, CMS is driving initiatives to fully enroll Medicare beneficiaries in value-based care by 2030. Collaboration with payers, AI for data management, and ongoing staff training can ease the administrative load.
- Leadership Traps to Avoid: Drawing from an article in Harvard Business Review, Daniel highlights four traps leaders should avoid when transitioning to new roles: lingering in their old role, the adrenaline trap, rushing to judgment, and being rigid in leadership style. Leaders must remain adaptable and open-minded when entering new positions.
- Advanced Strategy Series – Operations Management Edition: Cristy Good discusses her contribution to the Operations Management edition of MGMA’s Advanced Strategy Series. Her chapter focuses on risk management in medical practices, exploring strategies to help healthcare leaders balance patient safety with operational efficiency. She emphasizes the importance of a risk management framework to ensure long-term success.
Resources and Links:
- Learn more about value-based care with sessions at the upcoming MGMA Leaders Conference here.
- Read the full article "Four Traps to Avoid as You Transition into a Leadership Role" from Harvard Business Review here.
- Explore free on-demand webinars on value-based care at MGMA here.
- Check out the latest MGMA Books
Stay tuned for more insights and updates in healthcare leadership on the MGMA Week in Review Podcast.
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Are your patients concerned about out-of-pocket costs? Is your practice looking for a way to help address those concerns and improve the patient experience? Then, you may want to consider offering the CareCredit credit card as a payment option. For over thirty-five years, CareCredit, a Synchrony solution, has been offering patients a way to pay for health and wellness expenses not covered by insurance. CareCredit can seamlessly integrate with your business and offer a valuable financing option for your patients so they can pay for services or products over time to help fit their budget. To learn more about how CareCredit works for you and your patients, visit www.carecredit.com/mgmapodcast.
NextGen
Looking to transform your healthcare practice with AI? NextGen Healthcare is leading the way by leveraging artificial intelligence. It is helping practices improve efficiency, streamline workflows, and enhance patient outcomes. From predictive analytics to automating routine tasks, NextGen Healthcare's AI solutions are revolutionizing the delivery of care. Don't miss out on the future of healthcare innovation. Visit https://www.nextgen.com/ today to learn how NextGen Healthcare can help you drive efficiency and elevate patient care.
