This episode features Dr. Bogdan Bichescu, Associate Professor of Management Science at The University of Tennessee, Knoxville. Here, he discusses lessons learned from the pandemic that can help hospitals going forward, what can be done about provider shortages, how hospitals can compete with disruptors for physician employment, and more.
Summary
Lessons Learned from the Pandemic Can Help Hospitals Going Forward, Says Dr. Bogdan Bichescu
In this episode, Dr. Bogdan Bichescu, Associate Professor of Management Science at The University of Tennessee, Knoxville, shares his insights on how hospitals can learn from the COVID-19 pandemic.
Solution for Provider Shortages
Dr. Pacheco, a professor specializing in operations management and business analytics, suggests that hospitals can invest resources in motivating their affiliated physicians to take on more patients to counter provider shortages. The rising costs and increasing variability of practices have led to fewer independent offices and more hospital-affiliated physicians.
Improving Performance and Higher Revenues for Physicians
Dr. Patsco's research shows that by working in a hospital setting, physicians can benefit from a more stable schedule and familiar environment, leading to better performance and higher revenues. Hospitals can also offer physicians flexibility by having smaller clinics in wider geographical areas. To align incentives among all healthcare providers, it's necessary to understand the pressures they face when trying to reduce costs and improve outcomes, Dr. Patsco suggests.
Competition with Disruptors for Physician Employment
Dr. Bichescu acknowledges that hospitals face tough competition with disruptors for physician employment. He suggests that hospitals must define what makes them unique, such as their expertise in certain specialties, in order to attract physicians.
Conclusion
Overall, Dr. Bichescu emphasizes that the pandemic has highlighted the urgent need for hospitals to invest in new technologies and operational improvements, to be competitive in a rapidly-changing healthcare market. Dr. Bichescu emphasizes that hospitals must also collaborate with all healthcare providers, including physicians, to improve patient outcomes, reduce costs, and enhance the overall quality of care.
For more information please visit http://onlinemba.utk.edu/
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 04/05/2023 and can be listened here.
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