C184 - Business Efficiencies for Academic Neurology Departments: Business Strategies for Success

Event Time: Wednesday May 8, 2019 1:00 pm to 3:00 pm
Topic(s): Practice, Policy, and Ethics, Academic
Director(s): Gregory Esper MD, MBA, FAAN, Lyell Jones MD, FAAN
Description: In the changing environment of healthcare, operating margins are difficult to maintain and are frankly declining in many academic health systems. This in turn puts significant pressure on departmental academic practices, especially those in which procedural services are not the drivers of the majority of patient care. Academic neurology departments are representative of this burgeoning crisis, and improving the ability for chairs and their leaders to financially and operationally manage a department in astute and creative ways is paramount. Additionally, the academic mission is at risk, and departmental leaders must maintain faculty development through recruitment and retention programs in evolving academic practice while also preserving the research and education missions that differentiate academic neurology departments and academic health systems. Two courses have been designed to touch on these topics and are meant to be complementary: managing the academic neurology practice towards success within your evolving healthcare systems and accomplishing the academic neurology tripartite mission while also maintaining joy of work. In this course, we will share the operational and financial details that are most important in running an academic practice. We will briefly discuss the importance of relative value units, insurers, and the impact of productivity on financial metrics. We will also discuss different governance and decision making models, best practices for transparently sharing data, different models of funds flow within academic settings, and mechanisms for maximizing investment in neurology services. We will also share practical aspects of the national healthcare landscape and its rapid evolution, later focusing on opportunities for population management within neurology. We will share the relevance of burgeoning accountable care organizations and clinically integrated networks, the value of neurologists in health care reform, and the potential impact of health care reform on neurologists. We will then offer potential strategies for success both in your own departments and offer ideas on how to create idea sharing through a national network of neurology leaders.
Completion Message: By the end of this course, academic neurology leaders should understand how to assess opportunities for financial practice improvement; how health system funds flow impacts opportunities for neurology programs; strategies to maximize investment through collaboration with other departments and the health system; population management opportunities for neurology; ACO and CIN models and relevance of neurology participation; best strategies for recruitment, retention, and development of faculty; considerations for adopting updated learning opportunities within the environment of increasing pressures on learner time and funding; and opportunities to expand research strategies for your department despite a challenging funding environment.
CME Credits: 2
Core Competencies: Practice-Based Learning and Improvement, Systems-Based Practice

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