Investing in Well Being: Good for Business, Great for Physicians

Posted on October 20, 2021 by Mitchell Best, CEO

Healthcare leaders care about their staff, but in today’s environment they need to watch their bottom line too. To that end, in addition to the desire to be supportive of the well being of their physicians, there needs to be a solid business case too.

Luckily, there is. And it’s a compelling win-win for both leaders and physicians.

insight_goodforbusinessFor leaders, investment in physician well being means heading off the substantial replacement costs incurred when a disengaged or burned-out physician—one who’s grown exhausted, cynical or doubtful of his or her effectiveness—reduces hours or leaves the organization altogether. Not to mention the expense that can come when a physician, impaired by burnout, makes medical errors, dissatisfies patients, or incurs a malpractice suit. Physicians who are not at their best are costly to the organization.

For the physicians, knowing leadership cares enough to provide them with coaching and counseling, to listen to their concerns and respond to them, and offer other elements of well being support, goes a long way. This can help them connect, or reconnect, with the reasons they were drawn to medicine in the first place: a sense of purpose, helping others, making a significant contribution and taking part in a team effort. The result isn’t just improved care; it’s increased loyalty, commitment and engagement with the organization.

For more on investing in the well being of your physicians, read our article, Investing in Physician Well Being: The Smart Business Choice or contact VITAL WorkLife to learn more.

Investing in Physician Well Being

Sources:
1 Tait D. Shanafelt, MD et al., “Executive Leadership and Physician Well-Being,” Mayo Clinic Proceedings, January 1, 2017. https://www.mayoclinicproceedings.org/article/S0025-6196(16)30625-5/fulltext

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