Financial Forensics and the Medical Practice — The Role of the Physician Leader

Abstract

While the term “financial forensics” is often reserved for the investigation and examination of the finances of a company for purposes of uncovering mismanagement or criminal activity, used here it refers to methods physician leaders can apply to determine how the idiosyncrasies of provider practice styles and practice management affect financial performance and related risk. The principal goal is to enhance the productivity potential of the relationship between the physician leader and practice management professionals, as both lead the management of medical services organizations. The model and philosophy presented are useful for independent medical practices of all specialties and sizes, as well as those integrated with community and academic health systems.