F4: Developing a Practice Plan in an Academic Medical Center

Eligible for: ACMPE: 1 | ACHE: 1 | CEU: 1 | CME(AAPC*): 1 | CPE: 1.2 | PDC: 1
Traditional | Intermediate | Analysis

Balancing the clinical, teaching, research, and community service aspects of an academic medical center (AMC) is best achieved through the implementation of a robust, team-based practice plan. The inaugural years of a practice plan require an effective communication plan, reliable performance-based data, well-equipped leadership teams and the ability to adapt. This session will share the balanced team-based approach developed to strategically support individual provider career growth, retention and professional well-being; identify the importance of tying the practice plan outcome data to the mission, vision, values and strategic plan of the organization; provide outcome data by organizational mission for the first two years of the practice plan; share process and outcomes of reinvesting in faculty through margin improvement; outline the necessity of education for physician and administrative leaders to implement a practice plan; and provide a roadmap for practice plan stability in future years. A two-year case scenario from Children’s Mercy Kansas City will provide tangible details for participants in the way of practice plan metrics, outlining the benefits of a team-based incentive approach, identifying challenges encountered in the first two years, and offering an overview of the plan’s performance-based outcomes.