How Money and Finances Work in Healthcare with Lee Scheinbart

Episode Summary: Are you a physician feeling stuck in the traditional career path of clinical medicine? Join us for an enlightening episode of SoundPractice as host Mike Sacopulos welcomes Naomi Lawrence-Reid, MD, a board-certified pediatrician and the visionary founder of Doctoring Differently. Lawrence-Reid shares her inspiring journey from traditional clinical medicine to exploring innovative and fulfilling career paths outside of full-time clinical practice. Her story is a testament to the power of courage, curiosity, and the willingness to challenge the status quo. At a Glance: • Introducing Naomi Lawrence-Reid, MD: o From her medical training in Massachusetts and New York to founding an innovative online community for physicians, discover her inspiring journey. • Acknowledging Limitations: o While working in a pediatric ER, the limitations and challenges of traditional clinical medicine became apparent. • The Breaking Point: o Lawrence-Reid’s career shift can be pinpointed to a pivotal moment in the ER when the administrator’s lack of attention to a broken chair led to her resignation. • Challenges and Resistance: o While exploring non-traditional career options, physicians are met with skepticism and resistance from colleagues and supervisors. • Founding Doctoring Differently: o Using her lived experiences, Lawrence-Reid founded Doctoring Differently to help educate physicians and give them “permission” to explore diverse career opportunities. • Empowerment through Knowledge: o Understanding one’s career options immensely impacts professional and personal well-being, making it easier to address and overcome barriers. • Future Vision: o Lawrence-Reid’s goal is to improve healthcare through physician empowerment by integrating Doctoring Differently into medical education Why Listen? Whether looking for a career change, better work-life balance, or simply curious about what's possible, this episode provides valuable insights and actionable steps. Lawrence-Reid’s journey is a powerful reminder that physicians have the autonomy and capability to explore diverse and rewarding career paths. By challenging the traditional norms and seeking innovative opportunities, doctors can find fulfillment and contribute to healthcare in meaningful ways. Learn more about the American Association for Physician Leadership.

Episode Overview: Host Mike Sacopulos interviews Hanah Polotsky, MD, MBOE, and Lisa Williams on the intersection of healthcare, leadership, and innovation explored in their book Physician Leader: How Exam Room Experience Drives Leadership Excellence. Key Discussion Points: Background and Journey: Lisa Williams: Shares her extensive career in healthcare, from nursing home administration to executive roles and her passion for coaching and teaching. Hanah Polotsky: Describes her journey from clinician educator to physician executive, emphasizing her fascination with healthcare management and LEAN leadership. Motivation for Writing the Book: Lisa Williams: Discusses the need for physicians to transition from clinical experts to effective leaders and how the book aims to fill the gap in leadership training for healthcare professionals. Hanah Polotsky: Highlights the importance of physicians shedding command-and-control leadership tendencies for a more collaborative approach. Physician Burnout: Lisa Williams: Discusses the varying burnout levels in different healthcare settings and the common pressures faced by physicians. Hanah Polotsky: Explains the impact of inefficient processes and the importance of physician leadership in improving systems to reduce burnout. Leadership Attributes: Lisa Williams: Emphasizes the mindset of a strategic thinker and the need for physicians to think beyond their immediate clinical responsibilities. Hanah Polotsky: Focuses on the importance of effective communication and listening, sharing personal experiences from the exam room. Appendices and Additional Resources: Lisa Williams: Highlights the practical applications of the GUIDES framework and other tools provided in the appendices. Hanah Polotsky: Talks about the valuable appendices in the book, including research on change management, problem-solving models, and cross-functional redesigns. About the Experts: Lisa Williams has nearly 30 years of experience leading healthcare organizations with expertise in leadership development, organizational strategy, and change management. Key roles include: President, Lisa Williams & Associates, LLC Former Chief Strategy Officer & Executive Coach at The Polyclinic Chief Administrative Officer for the Pacific Northwest at OptumCare Hanah Polotsky, MD, MBOE, has 20 years of progressive leadership in value-based healthcare and is known for her innovative approach to integrating clinical experience with leadership. Key roles include: Executive Medical Director at CommonSpirit Health Care in Denver, Colorado Practicing physician specializing in internal medicine and endocrinology Completed Master of Business Operational Excellence at Ohio State University Listen now: Learn how exam room experience shapes healthcare leadership, reduces burnout, and drives innovation. Learn more about the American Association for Physician Leadership.

Overview: Join us for an insightful conversation with Smita Agarkar, MD, CPE, FAAPL, a distinguished physician leader. She shares her journey from clinical practice to a significant leadership position offering valuable advice for early-career physicians and highlights the crucial contributions of women in healthcare leadership. Agarkar discusses her shift from outpatient to inpatient care, her leadership experiences during the COVID-19 pandemic, and her current roles at Gracie Square Hospital and Weill Cornell Medicine. Women in Leadership: Trends in healthcare leadership. The importance of diversity and inclusivity in leadership roles. Unique contributions of women leaders in healthcare. Advice for Early-Career Physicians: Overcoming unexpected barriers. Importance of emotional intelligence and empathy. Building relationships and being assertive. Leadership Styles and Challenges: Transformative leadership approach. Building teams and changing culture. Navigating complex healthcare environments. Essential Leadership Skills: Building relationships and accountability. Trust, empathy, and active listening. Importance of emotional intelligence. Meta-Leadership: Concept and application in healthcare. Expanding thinking beyond formal boundaries. Interdependence and unity of mission. About the Expert: Smita Agarkar, MD, CPE, FAAPL, serves as Service Chief of Gracie Square Hospital, is Quality and Patient Safety Chair, and is an Associate Professor at Weill Cornell Medicine. Listen Now: Gain practical advice and inspiration from a seasoned healthcare leader. Learn more about the American Association for Physician Leadership.

Episode Overview: Host Mike Sacopulos interviews Megan Ranney, MD, MPH, FACEP, exploring her career journey and impactful work at the intersection of clinical medicine, public health, and advocacy. Ranney shares insights and actionable steps to address systemic healthcare issues and gun violence. Key Topics: Career Journey: From Peace Corps volunteer in West Africa during the AIDS crisis to Dean of Yale School of Public Health, Ranney offers a diverse perspective. Clinical Medicine and Public Health: Leverage insights from her work as an emergency physician and public health expert. System-Level Change: Ranney is passionate about driving systemic improvements in healthcare and public health. Firearm Harm: Learn from her brave stance on gun violence and evidence-based strategies for future change. Physician Action: Ranney outlines practical steps for physicians to make a difference. About the Expert: Megan L. Ranney, MD, MPH, FACEP, is the Dean of Yale School of Public Health; the C.-E. A. Winslow Professor of Public Health for Yale School of Public Health; and a Professor of Emergency Medicine at Yale School of Medicine. Background Emergency physician, researcher, and national public health advocate Focuses on digital health interventions for violence prevention and COVID risk reduction Co-founder of GetUsPPE, Senior Strategic Advisor to AFFIRM at the Aspen Institute Held significant roles at Brown University, including Deputy Dean and Founding Director of the Brown-Lifespan Center for Digital Health Elected member of the National Academy of Medicine Listen Now: Gain valuable insights on addressing gun violence and driving systemic change in healthcare from Megan Ranney, MD, MPH, FACEP. Learn more about the American Association for Physician Leadership.

Episode Overview: Host Mike Sacopulos interviews Stefanie Green, MD, a leading expert in Medical Assistance in Dying (MAiD) and author of the bestselling memoir This is Assisted Dying: A Doctor’s Story of Empowering Patients at the End of Life. This insightful discussion covers: • Scope of practice; • Patient eligibility; • Clinical availability; • Differences between Canadian and U.S. systems; • Role of End of Life (EOL) Doulas; and • Step-by-step process from patient request to provision. Hear how physicians can address MAiD requests with professionalism, compassion, and informed conversation. About the Expert: Stefanie Green, MD, has extensive experience in general practice, maternity, and newborn care. Since 2016, she has focused on MAiD. Key roles include: • Founding President, Canadian Association of MAiD Assessors and Providers (CAMAP) • Co-Lead, Canadian MAiD Curriculum Project • Medical Advisor, BC Ministry of Health MAiD oversight committee • Moderator, CAMAP’s national online community of practice • Speaker on MAiD locally, nationally, and internationally, including a TEDx talk • Clinical faculty member at the University of British Columbia and the University of Victoria Listen Now: Gain valuable insights from Stefanie Green, MD, on what every physician needs to know about MAiD. Ensure you are well-equipped to handle patient requests with professionalism and compassion. Learn more about the American Association for Physician Leadership.

Episode Overview: Are you a Chief Medical Officer or an aspiring physician leader looking to develop a foundational understanding of healthcare economics? In this episode, host Mike Sacopulos is joined by Lee Scheinbart, MD, CPE, author of The Chief Medical Officer’s Financial Primer, to delve into the financial intricacies of healthcare. Key Takeaways: • Financial Flow: Insight into how money moves from payers to providers in the U.S. healthcare system. • Leadership Skills: Importance of financial literacy for effective healthcare leadership. • Future Models: Preparation for evolving financial structures in healthcare. About Lee Scheinbart, MD, CPE: • Current Role: Chief Health Affairs Officer, Burrell College of Osteopathic Medicine. • Education: BS in Biology from the University of Michigan, MD from Ohio State University. • Training: Internal Medicine residency and Hematology/Oncology fellowship at the University of Florida Shands Hospital. • Experience: Over 20 years in Hematology/Oncology practice, leadership roles at Melbourne Internal Medicine Associates and Health First. • Contributions: Founding of the William Childs Hospice House, Medical Director for the Health First Cancer Institute. • Leadership: Certified Physician Executive (CPE), former Vice President for Medical Affairs and Chief Medical Officer at HF Hospitals. • Involvement: Active in the American Association of Physician Leadership, volunteer, mentor, curriculum advisor, and panel speaker. About the Book: Using illustrative stories, Scheinbart makes the text engaging while fostering critical thinking at every stage of an aspiring medical officer’s career growth. The book will equip physician leaders with essential financial knowledge to navigate and influence the healthcare system while providing an understanding of the historical flow of capital in U.S. healthcare and preparing for future financial models. Learn more about the American Association for Physician Leadership.

Episode Overview: Are you looking to eliminate waste, enhance efficiency, and elevate patient satisfaction in your practice? In this episode, host Mike Sacopulos and Owen J. Dahl, MBA, LFACHE, CHBC, LSSMBB, discuss how streamlining healthcare can help you achieve your goals. Dahl is a nationally recognized expert in healthcare management with nearly 40 years of specialization in lean management, revenue cycle, and practice operations. The Big Picture: Leverage Dahl’s expertise to revolutionize your healthcare practice by gaining actionable insights to boost efficiency and quality. Implementing lean Six Sigma strategies can enhance experiences for providers and patients, leading to a more effective and rewarding practice. Key Points: Philosophy of Workflow: Discover how Dahl's approach optimizes healthcare workflows, focusing on enhancing experiences for both patients and providers. Quality Improvement: Explore successful real-world examples that underscore the crucial role systematic processes in driving quality improvements. Systems Awareness: Gain a comprehensive understanding of the entire healthcare system to identify and eliminate inefficiencies. Economic Benefits: Learn how streamlined processes like Lean Management and Six Sigma can bolster the financial health of healthcare practices. Historical Insight: Apply John Wanamaker’s principle to modern healthcare to identify and reduce wasted resources. Practical Implementation: Find out how physician leaders can drive positive change by implementing lean processes. Resources: Books by Owen Dahl: The High-Performing Medical Practice: Workflow, Practice Finances, and Patient-Centric Care Think Business! Medical Practice Quality, Efficiency, Profits (2nd Edition) Owen Dahl Consulting: Visit owendahlconsulting.com for more information. Learn more about the American Association for Physician Leadership.

Episode Overview: Are you interested in taking a road less traveled in healthcare? This episode is for you. Host Mike Sacopulos talks with physician leader, author, and advocate for alternative medical careers, Sylvie Stacy, MD, MPH. Stacy shares her journey through unconventional clinical career paths, highlighting her impactful work in prison medicine. Episode Highlights: • Finding a “Happy Medium”: Many doctors experience burnout and feel undervalued in traditional roles. Stacy discusses unique clinical careers that allow you to stay in patient care while offering new challenges and rewards. • Combatting Burnout: Learn how stepping off the beaten path can reignite your passion for medicine and help you prioritize self-care. • Find Opportunities: Discover and secure roles in unconventional careers like prison medicine, telemedicine, and medical consulting. Things to Consider: • Side Gigs: Explore part-time jobs to gain experience or supplemental income. • Networking: Leverage job boards and professional organizations to explore new opportunities. • Peer Advice: Hear how other experienced physicians have navigated their career shifts. The Big Picture: Non-traditional medical careers can empower physicians to find renewed purpose and satisfaction in their professional lives. About the Book: Stacy’s newest book 50 Unconventional Clinical Careers for Physicians: Unique Ways to Use Your Medical Degree Without Leaving Patient Care is an accessible and engaging guide to finding satisfaction in medicine without leaving clinical practice. Gain real-world insights from interviews with physicians in unconventional clinical careers. This book is essential for any physician feeling unfulfilled, frustrated, or burned out. Learn more about the American Association for Physician Leadership.

Episode Overview: The integration of augmented intelligence (AI) in clinical settings is revolutionizing healthcare, but it also brings its own set of challenges. In this episode, Maria Granzotti, MD, MBA, CPE, CHCQM, FABQAURP, FACHE, dives into the current landscape of clinical augmented intelligence (CAI). She defines CAI, discusses its primary purposes and benefits, and examines its potential to reduce healthcare costs. Key Questions: • How is CAI different from traditional AI? • What does "human in the loop" mean in the context of CAI? • Is now the right time for CAI? Episode Highlights: • Technology Integration: Discover how CAI seamlessly integrates into existing clinical workflows, enhancing the tools physicians already use. • Quality Improvement: Learn from real-world examples about how CAI supports quality and safety initiatives in healthcare. • Healthcare Delivery: Explore how CAI can revolutionize healthcare delivery by reducing administrative burdens and shifting the focus back to patient care. About the Expert: Maria Granzotti, MD, MBA, CPE, CHCQM, FABQAURP, FACHE, is the chief medical advisor and clinical strategist for Digital Strategies Group, LLC. With 15 years of experience in healthcare executive leadership and 20 years in emergency medicine, she has a proven track record of delivering value and prioritizing patient safety. Granzotti has led quality and safety initiatives at a multihospital system in Texas and has played a pivotal role in shaping strategies for over 150 hospitals across the country. The Big Picture: CAI is creating new possibilities for patients and physicians, driving advancements in technology and quality in healthcare. Learn more about the American Association for Physician Leadership.

Episode Overview: Are you a physician who wants to become a Chief Medical Officer (CMO)? In this episode, discover a comprehensive roadmap designed to help you achieve your career goals. Host Mike Sacopulos is joined by author Rex Hoffman, MD, MBA, FACHE, CPE, to explore Hoffman’s new book, I Want to Be a Chief Medical Officer: Now What?. Tune in and take the next step toward your CMO career! Highlights: Unique Insights: Discover what hiring managers seek in potential CMOs and navigate the application process like a pro with tips for job search strategies and resume building. Comprehensive Roles: Understand various CMO roles in hospitals, medical groups, health plans, and health systems. From the Experts: Gain insight from experienced CMOs including an overview of their duties and the pros and cons of transitioning from clinical practice. The Big Picture: Turn actionable insights into confidence while navigating your journey toward becoming a successful CMO. About the Book: Hoffman packages his lessons learned as the CMO at Providence Holy Cross Medical Center in Los Angeles, California, into an ultimate guide for physicians interested in advancing their careers. His five-part book shares invaluable, real-life experiences from multiple chief executives that prospective CMOs can learn from. Doug Koekkoek, MD, and Mark Olszyk, MD, MBA, CPE, act as co-editors with Hoffman on this book. Learn more about the American Association for Physician Leadership.