MGMA Week in Review: A Leaders Conference Preview with Andy Swanson

Introduction:
Welcome to the MGMA Week in Review Podcast, hosted by Daniel Williams, Sr. Editor at MGMA, and Colleen Luckett, Editor and Writer at MGMA. In this episode, they share a recorded interview with Andy Swanson, Chief Revenue Officer at MGMA, to preview the upcoming MGMA Leaders Conference and discuss key topics impacting healthcare leaders. These include healthcare market concentration, leadership strategies, succession planning, and ongoing staffing challenges in medical practices.

Key Takeaways:

1. Healthcare Market Concentration:
   Colleen highlights a report from the Kaiser Family Foundation revealing that nearly half of U.S. metropolitan areas have one or two health systems controlling the inpatient hospital care market. Colleen explains, "Consolidation can bring efficiencies and keep hospitals open in underserved areas, but it often leads to reduced competition, driving up healthcare costs with unclear impacts on the quality of care."
2. Leadership Tips for Physicians:
   Daniel shares insights from a Medical Economics article titled “Five Leadership Tips for Practicing Physicians.” The tips emphasize leading by example, communicating effectively, delegating tasks, mentoring younger colleagues, and developing self-awareness. Daniel reflects, "All this stuff is so elementary, but it’s with most soft skills... it’s just reminding us over and over again so we don’t get too far out of the habits that we build for ourselves."
3. Succession Planning:
   Colleen discusses the importance of succession planning for medical practice leaders, referencing an article by Nick Hernandez. Leaders must think about "who will take over when I'm gone," and plan for a smooth transition that ensures the stability of their practice. This may include bringing in physician partners, working with management service organizations, or engaging private equity firms to assist in the transition.
4. Exclusive Interview with Andy Swanson:
   Andy gives a preview of the MGMA Leaders Conference, set to take place in Denver, Colorado. He shares details on the expansion of resource groups, such as Women in Leadership and Black Practice Leaders, and explains their value: "It’s super helpful to talk to a group of people who walk in it from my shoes day to day." Andy also highlights the evolving format of conference sessions, which will focus more on interactive discussions rather than traditional presentations, stating, "We know that didactic presentations...are less interesting to most people."
5. Staffing Challenges:
   Colleen shares the results of an MGMA stat poll where 53% of respondents identified finding candidates as the top staffing concern. Compensation and benefits were a concern for 29%, and retention challenges were highlighted by 16% of respondents. Practices are struggling to fill non-physician roles, with many turning to cross-training workers to cope with turnover.

Resources Mentioned:

• Kaiser Family Foundation Report
• Medical Economics Article
• MGMA Staffing and Retention Hub
• Physicians Practice article
• Full Interview with Andy Swanson
• The Latest MGMA Stat article

MGMA Resources:

• MGMA Stat
• Ask MGMA
• MGMA Conferences
• MGMA Consulting

We Want to Hear From You:

Let us know if there's a topic you want us to cover, an expert you would like us to interview, or if you'd like to appear on an MGMA podcast. Email us at:

• Daniel Williams: dwilliams@mgma.com
• Ryan Reaves: rreaves@mgma.com
• Colleen Luckett: cluckett@mgma.com

Thank you for tuning in to the MGMA Podcast Network. Please subscribe and leave us a review. See you next time!