Listen "Ep 136 – A Balanced Value Strategy: Physician Leadership and Workforce Wellness, with Dr. Peter Angood"
Episode Synopsis
The need for physician leaders has never been greater. As the healthcare industry continues to undergo significant change, there is a clear opportunity for physicians with extensive administrative experience to rise up. In order to drive value-based care, physicians will need to assume leadership positions that are all too often filled by executives who do not possess medical training. In the emerging health value economy, a physician leader needs to have both medical expertise and a business acumen to succeed. However, how can physician leadership thrive when the entire profession is beleaguered, burned out, and depressed? Fee-for-service medicine is causing moral injury in the medical profession and doctors suffer immensely when the system prevents them from doing what’s best in the care of their patients. Consequently, 50% of physicians are considering a career change, and it will cost health systems upwards of $1 million to replace a physician who leaves profession. A balanced value strategy to ensure future success will ultimately require effective cultivation of both physician leadership and workforce wellness.
Joining us this week on the podcast is Dr. Peter Angood, the Chief Executive Officer and President of the American Association for Physician Leadership (AAPL). AAPL focuses on maximizing the potential of physician-led, inter-professional leadership to help create personal and organizational transformation that benefits patient outcomes, improves workforce wellness, and refines the delivery of healthcare internationally. Since inception nearly 50 years ago, AAPL remains the only healthcare organization solely focused on providing full-service professional development offerings, an array of information resources, leadership education, and management training oriented toward the physician workforce and the organizations where physicians work or represented. AAPL CEO Dr. Peter Angood is an industry leader, a researcher that has authored over 230 publications, and he is a well-recognized international speaker on the host of issues related to physician leadership. His recent book, “All Physicians Are Leaders: Reflections on Inspiring Change Together for Better Healthcare”, has been well received the medical profession.
Episode Bookmarks:
01:30 Register today for the “Population Health Equity: The North Star for Value” Virtual Event (December 1, 2022)
03:00 Introduction to Dr. Peter Angood and the American Association for Physician Leadership (AAPL)
05:30 Defining Value-Based Care (the changing value equation and the Quintuple Aim)
07:00 Patients don’t understand the language we use to define value-based care!
08:00 Patient perspective is the most important in defining value creation in the health system.
09:00 The aspiration of person-centered care is not being realized because of system complexity.
09:30 The need for physicians to have both medical expertise and administrative experience for leadership effectiveness.
11:00 Patient-physician relationships drive the majority of care delivery.
11:30 “The medical profession does not provide physicians with adequate training or experience in leadership or management.”
12:15 Additive training beyond medical school and residency is necessary for physicians to become leaders.
13:00 Non-clinical administrators can be effective, but there is an added benefit of physician leadership.
13:45 Quality performance outcomes are 25-33% better in health systems with physician CEOs.
14:30 Health systems in the US News & World Report rankings are predominantly led by a physician CEO.
15:00 The length of the education track for physicians delays leadership impact potential.
16:15 Mutual respect between clinical and non-clinical administrators as a key to organizational success.
17:30 Value-based care experimentation (e.g. Medicare Innovation Center, employer-based risk contracts with providers)
18:00 The capitation engine is driving from groups like Oak Street Heal...
Joining us this week on the podcast is Dr. Peter Angood, the Chief Executive Officer and President of the American Association for Physician Leadership (AAPL). AAPL focuses on maximizing the potential of physician-led, inter-professional leadership to help create personal and organizational transformation that benefits patient outcomes, improves workforce wellness, and refines the delivery of healthcare internationally. Since inception nearly 50 years ago, AAPL remains the only healthcare organization solely focused on providing full-service professional development offerings, an array of information resources, leadership education, and management training oriented toward the physician workforce and the organizations where physicians work or represented. AAPL CEO Dr. Peter Angood is an industry leader, a researcher that has authored over 230 publications, and he is a well-recognized international speaker on the host of issues related to physician leadership. His recent book, “All Physicians Are Leaders: Reflections on Inspiring Change Together for Better Healthcare”, has been well received the medical profession.
Episode Bookmarks:
01:30 Register today for the “Population Health Equity: The North Star for Value” Virtual Event (December 1, 2022)
03:00 Introduction to Dr. Peter Angood and the American Association for Physician Leadership (AAPL)
05:30 Defining Value-Based Care (the changing value equation and the Quintuple Aim)
07:00 Patients don’t understand the language we use to define value-based care!
08:00 Patient perspective is the most important in defining value creation in the health system.
09:00 The aspiration of person-centered care is not being realized because of system complexity.
09:30 The need for physicians to have both medical expertise and administrative experience for leadership effectiveness.
11:00 Patient-physician relationships drive the majority of care delivery.
11:30 “The medical profession does not provide physicians with adequate training or experience in leadership or management.”
12:15 Additive training beyond medical school and residency is necessary for physicians to become leaders.
13:00 Non-clinical administrators can be effective, but there is an added benefit of physician leadership.
13:45 Quality performance outcomes are 25-33% better in health systems with physician CEOs.
14:30 Health systems in the US News & World Report rankings are predominantly led by a physician CEO.
15:00 The length of the education track for physicians delays leadership impact potential.
16:15 Mutual respect between clinical and non-clinical administrators as a key to organizational success.
17:30 Value-based care experimentation (e.g. Medicare Innovation Center, employer-based risk contracts with providers)
18:00 The capitation engine is driving from groups like Oak Street Heal...
More episodes of the podcast The Race to Value Podcast
Ep. 204: Mark Young, CEO of MyCHN
07/08/2024