MGMA Week in Review: Engaging the Next Generation in Healthcare and Navigating Practice Transitions

MGMA Podcasts

Welcome to the MGMA Week in Review podcast. Hosted by Daniel Williams, Senior Editor at MGMA, along with co-host Colleen Luckett, Editor and Writer at MGMA. This episode covers the latest healthcare news and trends, including innovative ways to attract younger generations to healthcare careers, essential tips for transitioning practice ownership, and updates on significant industry events. Let's dive in!

Key Takeaways

1. Strategies to Attract Younger Generations to Healthcare (02:16 - 08:51)

- Key insights from the Health Impact Forum on making healthcare careers appealing to younger generations.
- Emphasis on virtual technologies, tech-savvy work environments, and work-life balance initiatives.

2. Preparing for Practice Ownership Transitions (08:52 - 12:09)

- Steps for planning smooth transitions in practice ownership.
- Highlighting the importance of valuing your practice accurately, maintaining clear communication, and seeking legal advice.

3. Updates on Healthcare Data Breach (12:10 - 14:50)
- Latest information on the Change Healthcare cyber attack and the Biden administration’s response.
- Details on the extended grace period for out-of-network billing arbitration and the closure of the CMS advanced payments program.

4. Lessons from Young Leaders in Healthcare (14:51 - 19:56)
- Insights from a 24-year-old CEO’s experience in hospital management, as featured in Becker’s Hospital Review.
- Importance of adaptability, communication, mentorship, and continuous learning in leadership roles.

5. MGMA Stat Poll Results (19:57 - 24:15)
- Analysis of the latest MGMA Stat Poll results, showing increased interest in adding Advanced Practice Provider (APP) roles in 2024.
- Significance of APPs in expanding access to care and innovative staffing solutions for practices.

Direct Links to Resources Mentioned:
1. How to Turn Healthcare into a Cool Career - Health Leaders
2. Gen Z Slang - Wikipedia

3. Navigating Ownership Transitions: A Guide for Private Medical Practices - Medical Economics
4. Change Healthcare Cyber Attack Updates - Healthcare Dive and Reuters
5. What a 24-Year-Old CEO Has Learned Two Years In - Becker’s Hospital Review
6. MGMA Stat Poll Results

We Want to Hear From You:

Let us know if there's a topic you want us to cover, an expert you would like us to interview, or if you'd like to appear on an MGMA podcast. Email us at:

• Daniel Williams: [e-mail]
• Ryan Reaves: [e-mail]
• Colleen Luckett: [e-mail]

Thank you for tuning in to the MGMA Podcast Network. Please subscribe and leave us a review. See you next time!

Midmark
Founded in 1915, Midmark Corporation is the only company transforming healthcare experiences through innovative design within the medical, dental and animal health environments.

With a deep understanding of the healthcare environment, Midmark helps physicians and care teams deliver exceptional patient care through seamless room design, better equipment, smarter workflows and integrated technologies.

Midmark can help you improve clinical outcomes and eliminate the barriers preventing seamless, well-coordinated patient care. Visit our website to learn more about Midmark, or join us for the MGMA webinar on October 24, or on demand at MGMA.com.

Physician Business Training:
This course is for early-career physicians or physicians who need a comprehensive understanding of the business of medical practices. The course is 7 hours long and broken into 9 modules. It was developed by Medical Group Management Association (MGMA) and leaders from Johns Hopkins University School of Medicine. What Docs Don’t Get Taught in Medical School: Physician Business Training is the most complete and comprehensive training in the industry and it’s about 0.8% the cost of an MBA.