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Wrong Robert Solomon?

Robert J. Solomon

Professor

College of William and Mary

HQ Phone:  (757) 221-4000

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I agree to the Terms of Service and Privacy Policy. I understand that I will receive a subscription to ZoomInfo Community Edition at no charge in exchange for downloading and installing the ZoomInfo Contact Contributor utility which, among other features, involves sharing my business contacts as well as headers and signature blocks from emails that I receive.

College of William and Mary

261 Richmond Rd

Williamsburg, Virginia,23185

United States

Company Description

The College of William & Mary is consistently ranked among the best public universities in the country. Located in Williamsburg, Virginia, W&M is the nation's second oldest college and is considered one of the eight "Public Ivies. The school has more than 30 u... more

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Background Information

Employment History

Professor of Business Administration

Mason School of Business


Consultant

VHA Inc.


Web References(9 Total References)


www.programservices.org

Author: Robert J. Solomon, Ph.D. is Professor of Business Administration in the Mason School of Business, The College of William
Author: Robert J. Solomon, Ph.D. is Professor of Business Administration in the Mason School of Business, The College of William & Mary, Williamsburg, Virginia. He is author of the books The Physician-Manager's Handbook, The Physician-Manager's Handbook 2nd Edition, and Clinical Practice Management. He has managed an outpatient practice providing psychiatric, psychological, and clinical social work services and is a licensed industrial psychologist. He wrote a monthly column on medical business issues for American Medical News for six years, and has published over thirty refereed journal papers and conference proceedings including publications in Journal Of Health Care Marketing, Journal Of Medical Practice Management, and Archives Of Ophthalmology. Dr. Solomon has conducted physician leadership development programs for over fifty health care systems nationwide. These programs have focused on physician leadership, change management, and negotiation skills. He has also consulted with medical practices.


www.programservices.org

Author: Robert J. Solomon, Ph.D. is Professor of Business Administration in the Mason School of Business, The College of William & Mary, Williamsburg, Virginia.
He is author of the books The Physician-Manager's Handbook, The Physician-Manager's Handbook 2nd Edition, and Clinical Practice Management. He has managed an outpatient practice providing psychiatric, psychological, and clinical social work services and is a licensed industrial psychologist. He wrote a monthly column on medical business issues for American Medical News for six years, and has published over thirty refereed journal papers and conference proceedings including publications in Journal Of Health Care Marketing, Journal Of Medical Practice Management, and Archives Of Ophthalmology. Dr. Solomon has conducted physician leadership development programs for over fifty health care systems nationwide. These programs have focused on physician leadership, change management, and negotiation skills. He has also consulted with medical practices.


www.pmandr.com [cached]

But you need to know how much you can discount, when you should discount, and how discounting affects your practice, says Robert Solomon, Ph.D., author of The Physician-Manager's Handbook and Clinical Practice Management.
Here are some tips on what you need to know to effectively evaluate and negotiate discounted contracts. Click on any of the items below for a response that addresses your specific interests. What are my costs? Understanding what it costs you to provide a service is critical to making educated decisions about discounting and other managed care contracting issues, says practice management expert Robert J. Solomon, Ph.D. Knowing your costs may even put you in a position to negotiate better deals with managed care plans, he adds. It requires extensive surveys of your office procedures by a CPA knowledgeable in medical practice operations and cost accounting, Solomon says. "Trying to do it yourself would be like expecting an accountant to be able to do brain surgery. Because it tends to be expensive, it may make sense to have the process done only for the handful of procedures that make up the bulk of your practice. However, Solomon emphasizes the importance of doing a custom analysis for your practice. The cost of the same service can vary significantly between practices depending on how they are staffed, where they are located and how work is divided among various staff members. Costs may even vary significantly at the same practice from year to year as procedures develop and change. Solomon also warns against substituting aggregate data on procedure costs for custom-generated cost data. Knowing your costs can give you leverage in negotiations, Dr. Solomon says. If an insurer offers you a contract at a certain price and you say you need more, you will only be able to show why if you have cost data available. While many insurers have a reputation for being inflexible in physician negotiations, particularly in markets they believe have an oversupply of doctors, many will listen to reason, Dr. Solomon says. To keep your practice financially strong, you must identify those risks and negotiate to protect yourself from them as best you can, says practice management consultant Robert J. Solomon, Ph.D.


www.pmandr.com [cached]

Therein lies a classic trap for doctors, says Robert J. Solomon, Ph.D., a professor of business administration at the Graduate School of Business Administration at the College of William and Mary in Williamsburg, Va. "A lot of doctors equate working harder with making more money.
The solution to falling income is to take on more patients." But that only works if you are receiving enough payment for your services to cover your costs plus putting some money in your own pocket at the end of the day, says Dr. Solomon, who has written two books on medical practice management and works with medical groups and health systems across the country as a consultant for VHA Inc. "There are some contracts that it is better to just walk away from than to accept the financial consequences." Telling the good from the bad and ugly contracts The problem is distinguishing money-losing managed care contracts from those with reasonable discounts that will build your practice. Finding the answer is more complex than simply projecting how much money a given contract may bring in, Dr. Solomon says. Always know where your risks lie and try to offset them in negotiations, Dr. Solomon says. With a capitated contract, volume is often the least predictable element. Stop-loss coverage and options to reopen negotiations are important hedges against volume risk. But Dr. Solomon emphasizes that knowing your costs is the key. "If you don't know your costs, you have no basis for analyzing a contract or negotiating changes." Of course, managed care firms often will not negotiate contracts. In that case, it's still important to know your costs so you can judge whether to simply walk away. "There are a few exceptions, of course, but in most markets you don't need to take every contract that's offered to keep your practice going," Dr. Solomon says.


www.programservices.org

Author: Robert J. Solomon, Ph.D. is Professor of Business Administration in the Mason School of Business, The College of William
Author: Robert J. Solomon, Ph.D. is Professor of Business Administration in the Mason School of Business, The College of William & Mary, Williamsburg, Virginia. He is author of the books The Physician-Manager's Handbook, The Physician-Manager's Handbook 2nd Edition, and Clinical Practice Management. He has managed an outpatient practice providing psychiatric, psychological, and clinical social work services and is a licensed industrial psychologist. He wrote a monthly column on medical business issues for American Medical News for six years, and has published over thirty refereed journal papers and conference proceedings including publications in Journal Of Health Care Marketing, Journal Of Medical Practice Management, and Archives Of Ophthalmology. Dr. Solomon has conducted physician leadership development programs for over fifty health care systems nationwide.


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