Hospitals buying physician practices may find they're not speaking the same business language initially. So hospital executives need to adapt to different needs and approaches to achieve cross-functional goals in such unions, experts cautioned during a Tuesday afternoon session at the Healthcare Financial Management Association's 2014 Annual National Institute in Las Vegas.
That's because doctors and business people are trained in different ways of thinking, said Dr. Paul Weygandt, vice president of physician services at Nuance Communication. It's the result of neurolinguistic programming, he explained.
Physicians are accustomed to making instant decisions, but businesspeople often spend more time gathering relevant information and analyzing it systematically over a longer period of time, Weygandt said. He should know. In addition to his medical degree, the orthopedic surgeon has an MBA, a law degree and a master of public health.