You are in one of the fastest growing and most rewarding careers in health care management. The role of a medical practice executive is demanding and always evolving. It requires mastering a broad knowledge base and a deep skill set unique to the group practice environment.
What is the Body of Knowledge?
The Body of Knowledge for Medical Practice Management is the most comprehensive, authoritative resource for those who seek to assess and develop their skills and knowledge in this profession. Every profession possesses a body of knowledge representing the entirety of information about that profession. It’s one way that professionals establish their claim to an expertise that deserves recognition. The Body of Knowledge for Medical Practice Management represents just such an achievement. It defines and legitimizes the unique knowledge and skill set for the medical practice management profession. It helps set the standards that preserve the profession’s integrity and promote its growth. The eight learning domains for medical practice management are:
Business operations in a medical practice include planning, purchase of materials and equipment, facilities management and maintenance, business partnerships, and marketing and communication plans.
Financial management in a medical group requires skills in accounting, budgeting, revenue cycle management and financial analysis.
Human Resource Management
Human Resource Management involves staff recruitment and retention, an effective staffing strategy, training, a performance evaluation process, a personal commitment to enhancing your knowledge base and compliance with employment laws.
In a medical practice, robust information systems and strong information management capabilities are essential strategic resources.
Long-term success of the medical practice depends on the strength of the leadership team, effective governance and leadership through policies, long-term strategies and the strategic direction of the organization.
Patient Care Systems
A critical component of medical practice management is the effective and efficient processes surrounding the patient encounter to ensure an environment for safe, effective and efficient clinical care.
For your practice to thrive, quality management programs must be developed for both patients and staff. This recognizes the increased emphasis on continuous quality improvement and pay-for-performance programs.
This is essential to protect the assets of the organization, ensure compliance with all regulatory bodies and protect the practice from medical malpractice and adverse legal events.
Competencies are essential themes threaded throughout the Body of Knowledge and form the strong foundation for successful job performance. There are four competencies, or skill sets crucial to performing each domain successfully. They are:
A commitment to achieving professional standards that enhance personal and organizational integrity and contribute to the profession.
Collaborating with and supporting the practice’s physician leadership to provide strategic direction to the organization.
The skills necessary to elicit multiple points of view from internal and external sources, facilitate constructive interaction and present information clearly and concisely.
Critical Thinking Skills
A systematic, logical approach to problem-solving, decision-making and the development and administration of systems to address day-to-day issues and the long-term improvement needs of the practice.