Physician Staffing Blog

Healthcare News and Trends

Preparing for Growth with a Dynamic MSDP

November 30, 2020

The healthcare industry is facing unprecedented times. Amidst COVID-19, a growing clinician and physician labor shortage, and looming financial challenges, organizations must find ways to stabilize and strategize for the long-term. While many organizations are relying on cost containment to battle the projected $323B loss due to COVID-19[i], in reality, growth is the key to regaining financial viability.  


Take physicians as an example – in areas where the market demand exists, a new primary care physician can generate $4M/year in revenue. Whether organizations realize it or not, they are on a growth journey. A comprehensive growth strategy combines multiple operational and structural drivers – however, talent is the greatest lever that impacts growth. Building a strong talent strategy starts with understanding your talent needs.


Creating a predictable path to revenue begins with building a deliberate and dynamic Medical Staff Development Plan (MSDP).  For many organizations, the pandemic has resulted in paralysis. Establishing the right balance between community and patient needs with the right capacity of medical and clinical talent has become more challenging due to shifting demographic, financial, labor, and delivery model trends. However, a strong MSDP can create clarity amidst volatility, allowing organizations to find equilibrium and balance.

Preparing for Growth with a Dynamic MSDP

       

Organizations that leverage a dynamic MSDP to continuously evaluate and optimize meeting patient care demand with high-quality physicians and advanced practitioners will be well-positioned for future growth and prosperity. By 2032, the American population will grow 10.4%, and the majority of this demographic growth will be the sector of the population that is 65 or older, which will grow 45.1%[ii]. Healthcare organizations that invest in their dynamic planning process will be poised to capitalize on the future growth. 

Managing through uncertainty with confidence to drive long-term growth and resilience requires strong organizational talent. An evolving MSDP that clearly outlines your talent needs and aligns it with your talent acquisition strategy is the first step in building an effective, enabled, and motivated team who will drive your growth plans. While others are adjusting to the new normal, position your organization for success; implement the tools and processes now that will allow you to succeed in the future.

To learn more, reach out to us here.



 

[i] https://revcycleintelligence.com/news/aha-projects-323b-in-covid-19-hospital-financial-losses-in-2020

 

[ii] https://www.aamc.org/news-insights/press-releases/new-aamc-report-confirms-growing-physician-shortage#:~:text=During%20this%20period%2C%20the%20U.S.,grow%20by%2045.1%25%20by%202033.

 


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