Producer, John discussed on Lenz on Business

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Yes Saturday night means business talk here on WSB in on producer John water house on winds on business with yet this weekend sitting alongside me is a very special guest someone with an interesting perspective on the healthcare business position own healthcare the current opioid crisis and much more please welcome Steven Rosenbaum Steven how you doing great how are you doing great now a little more about Stephen he's C. E. O. of alliance spine in pain the largest interventional pain management company in the south east Stephen has more than twenty five years of health care experience and throughout his career he's worked with physicians and physician owned facilities with the majority of his work being for hospitals surgery centers and positioned practices this includes having presided over the successful development and opening of numerous specially hospitals in various states and today he speaks frequently to groups around the country about positioned owned healthcare and alliance spine in pain is just that you can learn more at spying pains dot com now Stephen let's talk a little bit more about the business model of positioned own healthcare sure I'm so typically in health care a lot of people don't realize this but healthcare facilities are typically owned by a municipality or a health care management company I'm not the physicians who work in them and so the physician practices typically a separate entity from the facility where you receive your care so if you were getting the surgery for example you would receive a bill from the surgeon who did your knee surgery but also from the facility that that knee surgery took place so that pays for the the staff that's there in the facility the equipment the sterile environment in the machines that they used to do that work if the physician in his or her business is a separate business and they get paid for their skill do you see this is a trend or do you see more and more of these businesses this business model popping up around the country what what we've done is to try to connect the two so that we have physician investment in the facility and so now that position has a say in what staff works in that facility what equipment is used and they have a say because they're going to be responsible for it as owners and what decisions are made with respect to it so it's a it's somewhat unique model or perspective but we think very effective because they tend to be good stewards of that environment in which they work once they have some ownership in rightly right now I wanna talk a little bit more about that because when you have physicians who are invested in the business what are some other ways that it changes things well obviously their relationship with the staff is very different right because now they're there the staff employee and they have the us a different relationship as the staff employer the interaction with the staff is very different because the staff knows that when they do something well or maybe that's not necessarily well they're gonna have to be responsible to the physician with whom they're working now as an owner and is that the investor in the business not necessarily to a supervisor who may or may not be in the are at the time that they are performing at that level and I can imagine that like the position to own model would be a more cohesive approach yes absolutely I mean it's it's better for the positions they have a better environment but they also have a tendency to interact differently and I'd I'd say better with the staff so it's a better environment for the staff as well as the position right in as somebody who manages the business on a non positional more their supervisors that's not in the O. R. when decisions are being made they have no credibility when they come to me in the past in a traditional hospital or independently owned inventory surgery center model if the physician comes to me and also they don't have investment they want a new piece of equipment it's easy for me to say well of course you are the piece of equipment because you'll have to pay for their investor they said like to replace a piece of equipment we think that the peace the equipment we have is old and tired needs we need a new one they have all the credibility because I'm gonna be by that new equipment with their money their investment so it and it gives them immediate credibility and makes the relationship between me the manager and the physicians who were in the or every day a lot smoother as well because we both know where each other's coming from both if you just tuned in to WSBT see evening you're listening to lands on business presented by Georgia colleges Jay Whitney bunting college of business no forget you can get your MBA master of logistics or master.

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