EyeWorld is the official news magazine of the American Society of Cataract & Refractive Surgery.
Issue link: https://digital.eyeworld.org/i/111385
78 EW Ophthalmology Business February 2013 Averting continued from page 77 If you haven���t formalized growth goals for your practice (the geographic span of the practice, the provider mix, growth targets, etc.), how are you going to avoid conflicting views about opening a satellite, adding a new partner, or financing a new piece of capital equipment? A vital resource needed to both prevent conflicts and dampen them when they arise is transparent, wellunderstood economic statistics. Most business conflicts boil down to money arguments. If you only go over practice finances at the annual meeting, or pursue emotional arguments for or against a course of action without consulting the objective financial impact, your conflicts will drag out for months without resolution. Money conflicts within the practice are, of course, often due to or at least compounded by money conflicts at home. If you���re the surgeon of your family, and you and your spouse are at odds because you are not earning enough to cover the family���s current expenses, you���re going to vote down projects in the boardroom that may be in the practice���s and your partner���s best interests. As we enter an era of major healthcare payment reform, which will constrict most incomes, it is critical that every practice owner gain control over his or her personal living costs to avoid compounding boardroom arguments. Resolving con���icts We��ve got you covered Even though partner-to-partner conflicts can feel like the interpersonal equivalent of war, we no longer resort to duels for conflict resolution (as satisfying as that would be in some settings!). Instead, partners have to resort to more genteel alternatives. The conflict resolution efforts you pursue should be progressive. Let���s look at an example: discord about the declining surgical skills of the senior ophthalmologist���a common conflict that can surface in group practices. Here���s the set-up for the birth of a conflict: ��� Dr. Smith is 74; he���s the founder and managing partner of a foursurgeon group practice. ��� His next-nearest partner, Dr. Jones, is 68. ��� Dr. Smith bristled at a recent board meeting when his two youngest partners, Drs. Able and Baker, both in their 40s, gently suggested that he should retire from surgery. ��� Dr. Jones thinks that Dr. Smith���s surgical skills are just fine and came to his defense. ��� The discussion heated up rapidly, tempers flared, and the board meeting came to a bitter close. What should happen next? In a setting like this, conflict resolution proceeds in a stepwise fashion through five progressive steps: 1. Unilateral acquiescence. Dr. Smith, the senior surgeon, could resolve the conflict unilaterally. He could simply admit to his junior partners that he, too, has been concerned about his cataract outcomes, and he���s ready to limit his practice to medical ophthalmology. On the other side of the argument, Drs. Able and Baker could similarly yield, reconsider their position, apologize to the practice founder, and simply agree to drop the matter for the time being. Coming from one side or the INSURE UP TO $3,000,000* UNDERWRITING REQUIREMENTS Medical: Paramed Exam, Full Blood Pro���le, Urinalysis BUSINESS OVERHEAD EXPENSE Covers daily business expenses up to $250,000 per month 916.746.7888 ZIMMERMANWEALTHSTRATEGIES.COM ZIMMERMAN1111@MSN.COM Ophthalmology Business is focused on business topics relevant to the entrepreneurial ophthalmologist. It offers editorial, opinion, and practical tips for physicians running an ophthalmic practice. View on your mobile device at: digital.ophthalmologybusiness.org *65% of your earned income