Summit Medical Group
- SMG, together with NYU Stern Executive Education, developed a custom program for the senior leadership of this extraordinarily successful and growing physician group, to support ongoing strategic growth and to put specific capabilities in place for the next five years.
- SMG desired to build an organizational mindset and further promote a culture of accountability. The senior leadership (primarily physicians) was interested in expanding foundational business knowledge.
- The group wanted to deepen its understanding of healthcare economics and to develop a strategy to address changes as a result of healthcare reform.
- Other key organizational objectives included boosting engagement and creating a collaborative environment between the management team and the physicians.
- Board of Directors and Clinical Council (physicians)
- Senior Administrators (a mix of physicians and non-physicians)
- Senior talent pipeline of future leadership
- NYU Stern designed an interactive, multi-modular program over the period of 10 months that minimized time away from the office and from patient interaction.
- Program structure is very flexible to accommodate physicians' hectic schedules and sessions are delivered both at NYU Stern and off-site, and occasionally on weekends.
- The highly customized content flows from a strategic approach to value creation, covering healthcare ethics, law and economics, to governance, leadership, financial statement analysis, risk management, operations, marketing and negotiations, and culminates with healthcare reform.
- Application-oriented tools and frameworks are provided along with benchmarking against competitors. Multiple group activities are woven into the design, along with inter-module blended learning so that there is constant application to the challenges unique to SMG.
- Leader dialogues and presentations along the way support thinking and acting as an enterprise.
- Comprehensive small group projects addressing various strategic problems facing SMG link the modules.
- Participant groups are coached by Stern's experienced faculty and industry practitioners on how to implement their projects.
- Participants have a greater sense of ownership and understand more thoroughly how their individual contributions impact the organization.
- Participants are better prepared to examine a concept for business improvement, perform due diligence, and, if appropriate, implement the idea within the larger organization.
- Participants leave with a broader understanding of key business disciplines and how they relate to running a growing medical group more successfully.
- In spite of urgent demands on physician time, attendance has been extremely high. The attendees have requested an extension of the program for themselves (as well as mandating attendance of the program as a requirement for future Board members).
- Participants have already created innovative ways to increase organizational effectiveness, reduce company costs and better communicate with colleagues and patients.
- Board members have demonstrated a deeper understanding of the business implications (customer satisfaction, patient retention, operating margins, etc.) of their decisions.
“As a physician with an MBA, I know the value a business education brings to running a successful medical practice. Summit Medical Group has experienced phenomenal success and this development program with NYU is already supporting us to continue that trajectory. The modules conducted so far have engaged, enlightened and excited the physicians so much so that the Board has stipulated that this program is now a pre-requisite for any future SMG Board members. Working with NYU has been a collaborative and dynamic process which has enabled us to make just-in-time design adjustments and to shift content areas as the needs of our organization evolve.”
- Simon Samaha, MD, Chief Executive Officer
“My role involves daily interaction with the doctors at SMG. I can see first-hand how impactful this program has already been. The physicians are appropriately applying the concepts to continually improve patient and staff’s experiences as well ensure fiscal responsibility of the group.”
- Heather Tustin, Physician Development Specialist
Participants from Summit Medical Group say:
“The greatest utility was getting people together to learn and discuss the topics related to our collective survival and future. It was a great bonding experience as well!”
“This program enhances our business analysis skills and will assist with strategic planning.”