![]() Instead of worrying about management skills, balance sheets and marketing plans, physicians did what they did best: care for their patients. Until recently, virtually all doctors avoided the business side of medicine. Medical practices that improve in non-clinical areas actually see increases in clinical satisfaction -a halo effect, Cox calls it. “There are a lot of parallels.” Among them, he says, are site selection, building design, facilities upgrades and hours of operation. “Healthcare providers can learn from successful service retailers,” Cox says. It’s not a lesson taught in medical school it’s lesson from business school, and Cox covers it with physicians enrolled in his MD/MBA program. They would say, ‘I go to the mall and I buy something at Cinnabon and they validate my parking ticket, but my husband gets a $50,000 surgery and I have to pay for parking,’” remembers Cox, a professor of marketing at Indiana University’s Kelley School of Business and chair of the school’s Business of Medicine Physician MBA program,Īs much as physicians believe that patients evaluate them solely by their clinical performance, the truth, Cox says, is that patients judge physicians by the overall service they receive. ![]() “The biggest single complaint the family members and the patients had was that they had to pay for parking. He noticed an interesting trend in the practice’s annual patient satisfaction survey: Patients and their families were furious about … the parking. ![]() Cox, MBA, Ph.D., was doing some consulting work for a hospital-based radiology practice ![]()
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