When a healthcare organization acquires a medical practice or organizations merge, both parties usually have intense hopes and expectations—some of them unrealistic. And the effect can be truly toxic. A successful approach to an M&A means finding ways for leadership and physicians to talk to each other and find solutions to the problems affecting them both. When they do, they’ll realize they share the most basic goals:
- Making sure patients get healthier, are safe and satisfied
- Help the organization survive and thrive
- Maintain good relationships with the community
The organization can be unified with all parties working toward this common mission.
The Effect
A recent study has found a surge of 91.6% in healthcare mergers and acquisitions in the past 10 years alone.1 The ramifications fall heavily on physicians who have been accustomed to a certain status quo and are now facing major shifts in their own practice.
The effect of a merger or acquisition can leave a lasting impact on physicians and organizations. From increased levels of physician stress to a significant drop in patient satisfaction, these outcomes have negative repercussions on the well being of physicians involved in the M&A.
How to Help
Maintaining physician well being during a merger or acquisition depends on the guidance of leadership and the willingness of physicians to meet halfway.
Like most things found in life, a mutually beneficial and symbiotic relationship positions each to thrive in a flourishing and healthy partnership. By establishing clear avenues of communication and fostering an atmosphere of reliability, both parties are subsequently in better positions. This principle supports the success of both parties for a prolonged period of time.
Download the infographic for more information on the effects an M&A has on physician well being.
References:
1. 2017 in Review: The Year M&A Shook the Healthcare Landscape https://www.kaufmanhall.com/sites/default/files/2017-in-Review_The-Year-that-Shook-Healthcare.pdf
