IU Kelley Business of Medicine Physician MBA Program [Interview][Transcript]

Dr_David_Goldrath_IU_Kelley_Business_MedicineGuest: Dr. David Goldrath
Presenter: Neal Howard
Guest Bio: Dr. Goldrath attended the University of Michigan Medical School, the University of Wisconsin for residency and the Indiana University Kelley School of Business for his Business of Medicine Physician MBA. He is the President of Comprehensive Urologic Care S.C. He is in full time practice specializing in Urologic Oncology and Robotic Surgery.

Segment overview: In this segment, Dr. David Goldrath discusses his experience in the IU Kelley Business of Medicine Physician MBA Program.

Transcription – IU Kelley Business of Medicine Physician MBA Program

Neal Howard: Hello and welcome to the program. I’m your host Neal Howard here on this Health Suppliers Segment. Thank you so much for joining us here on Health Professional Radio. Our guest today is Dr. David Goldrath. David is a urologist working in Chicago and he’s here to talk about his experience in the Indiana University Kelley Business of Medicine, Physician MBA Program. It’s a 21-month program offer to meet career physicians that’s designed to give them the business knowledge and the skills they need to navigate through the ever changing world of healthcare. Welcome to Health Professional Radio Dr. Goldrath.

Dr. David Goldrath: Thank you Neal.

N: Thank you for coming. We have recently interviewed the faculty chair of the program Professor Anthony Cox. You’ve gone through the Indiana University Kelley School, Physician MBA Program. Talk about your experiences as an alumn.

G: Good experience. I got into this, because I heard about the program. I’d always thought about continuing on the medical school, that’s our business school during my practice, but my practice was very busy, and I have kids and I didn’t have time. But when this program came along, I got, “Wow what a great idea with all the changing in the area of medicine right now.”, and I wanted to be up to date and find out, really understand what the forces were that we’re changing that is on that thought that this will be a good time to get into this program.

N: Was your decision based more in a desire to understand what’s going on as far as the business side of your practice and your reimbursements, that’s sort of thing? Or was it more in preparation to possibly take over some of those responsibilities if that were to become necessary?

G: Maybe a combination of both. Originally, I really felt that the changes that were happening will be forced upon us and it wasn’t that much revenues that were the issue. It’s just that the whole system that was changing and I didn’t really understand in detail what their forces that were changing. I think we as physicians, we always care about what we’re doing in medicine, what we’re doing to take care of our patients. We want to be successful on what we’re doing. But when changes are being made that are out of your control, I find it difficult and I thought this is an opportunity to get involved. See what’s going on and see what I can do to help my practice, to help the local hospital where the deal would’ve be successful.

N: As the mid-career physician yourself, talk about the efficiency, the understanding that you now have as opposed to those early years when you said that your business was to practice. I mean your practice was very busy which is a good problem to have. But you still didn’t have a handle on how it was being successful. Has that changed drastically for you now?

G: Yes, that was well put. As physicians, you take good care of your patients and you treat them well and your good results, you’re busy. You have to be successful. But, some of the strategic decisions that we make, so sometimes, I felt you’re lucky when the things work out well because you really don’t have the basis to know everything that you’re doing because you’re busy taking care of your patients. Having worked for a number of years, certainly, I think gave me different perspective on the program that maybe some of the younger people who haven’t been out that long, do they have experience with hospital administrator, you’ve experienced with insurance companies. Those types of things take a lot of time and they’re very frustrating. I think there’s a little better appreciation for it, for what you’re doing it.

N: In addition to the appreciation for that thing, that kind of drives you sometimes in order to help patients above and beyond your oath to heal and do no harm. What type of changes have you seen when it comes to interacting with patients now that you have this deeper understanding of what drives the business?

G: I think with patients come to see you, they’re coming for medical problem that have the pain. We see a lot of it. Their insurance difficulties that they have and you see what’s happening with the doctor was going up and premiums are going up. You hear a lot of complaining about that. I understand that. At least I understand the reasons why they’re doing what they’re doing. My perspective, I’m a whole ACA and these changes have changed the physicians. They’re kind of force it on you, you’re very hesitant to take it. In this program really changed my outlook on it, saying, “Now I understand why.”. What’s the best way to deal with this? The things that I can do as a physician is to help my patients out, to help them understand what’s going on on this also. I think it’s helpful to understand the other side, the business side, the companies are going through, what the governments are going through. At least to understand that something had to change. We are very caught on medicine, make a decent living , doing what you’re doing. But you keep it getting cut here, you’re getting cut there but when you understand if you go back in, look and say ‘What can we do differently to give them the patients better care more than what you’re doing. Those are the types of things that you want to very early out on the program, I think it’s quite beneficial.

N: Do you think that one of the benefits of the program is being able to change the way that you do your business, the way that you procure your supplies. The way that you deal with pharmaceutical representative when they come to you. Has any of that changed or it is pretty much business as usual but now you understand where everyone’s coming from?

G: Now we’ve met a lot of changes. What’s great about this course is you’re doing things at least in my practice, there’s so many things that ideas that I had when I start doing this program and giving these classes. I tried to use real time examples to try to make changes in my practice as we’re going along with the courses. Courses in our organization of development and change class, in our operations class. A lot of it assignments where to come up with a change and I will do it on my practice. We instituted in office pharmacy based on my one of my courses we could did all financial thing for it. It’s been great for the patients, it’s been great for the practice. That’s how to those kind of things we could integrate right away. I was doing this all along in the program which made it more fun for me obviously and certainly, you’re more involved with it because it’s your practice. I found that very helpful.

N: In wrapping up Dr. Goldrath, when it comes hiring and managing staff, training staff have any of those approaches changed for the better, or at least for the efficient. The more efficient, I think efficient is better, as a result of your completion of this 21-month program?

G: Yes, I think it’s been a lot. We have a lot of classes in leadership. You learn how you always a boss. You learn how you always a leader where your efficiencies are, where your … And makes you think about ‘How do I want to approach the situation?’, ‘Where do I want to do it my employees?’. Yes it’s been very beneficial, the employees were really enjoyed it. I’ve changed some of these you going to practice by we got our six sigma green belt, and one of the classes that I was in and I’ve tried to discuss it with my employees and we got projects going in our office now and engaging them to the changes in the office. They respond very well, when they’re involved in the process. Everybody likes it, they’re all pleased liked it the program too.

N: Some great, great information about a great program. Thank you for talking with us today doctor.

G: Thank you.

N: You’ve been listening to Health Professional Radio in this Health Supplier Segment of the program. We’ve been in studio with Dr. David Goldrath, urologist in Chicago who’s an alumnus of the 21-month program offered to meet career physicians known as the ‘Indiana University Kelley School Physician MBA Program’. It’s a program that’s designed to give physicians the business knowledge in skills that they need to navigate to the changing world of healthcare. Transcripts and audio are available at healthprofessionalradio.com.au and also at hpr.fm. You can subscribe to this podcast on iTunes and at SoundCloud.
Neal Howard: Hello and welcome to the program, I’m your host Neal Howard here on this Health Suppliers Segment. Thank you so much for joining us here on Health Professional Radio. Our guest today is Dr. David Goldrath. David is a urologist working in Chicago and he’s here to talk about his experience in the Indiana University Kelley Business of Medicine, Physician MBA Program. It’s a 21-month program offer to meet career physicians that’s design to give them the business knowledge and the skills they need to navigate through the ever changing world of healthcare. Welcome to Health Professional Radio Dr. Goldrath.

Dr. David Goldrath: Thank you Neal.

N: Thank you for coming. We have recently interviewed the faculty chair of the program Professor Anthony Cox. You’ve gone through the Indiana University Kelley School, Physician MBA Program. Talk about your experiences as an alone.

G: Good experience. I got into this, because I heard about the program. I’d always thought about continuing on the medical school, that’s our business school during my practice, but my practice was very busy, and I have kids and I didn’t have time. But when this program came along, I got ‘Wow what a great idea with all the changing in the area of medicine right now’ and I wanted to be up to date and find out really understand what the force is word that we’re changing that is on that thought that this will be a good time to get into this program.

N: Was your decision based more in a desire to understand what’s going on as far as the business side of your practice and your reimbursement, that’s sort of thing? Or was it more in preparation to possibly take over some of those responsibilities if that word to become necessary?

G: Maybe a combination of both. Originally, I really felt that the changes that were happening will be forced to pond us and it wasn’t too much to revenues that where the issue. It’s just that the whole system that was changing and I didn’t really understand in detail what their forces that were changing. I think we as physicians, we always care about what we’re doing in medicine, what we’re doing to take care of our patients. Yes we want to be successful on what we’re doing. But when changes are being made that are out of your control, I find it difficult and I thought this is an opportunity to get involved. See what’s going on and see what’s what I can do to help my practice, to help the local hospital where the deal it would be successful.

N: As the mid-career physician yourself, talk about the efficiency, the understanding that you now have as opposed to those early years when you said that your business was to practice. I mean your practice was very busy which is a good problem to have. But you still didn’t have a handle on how it was being successful. Has that change drastically for you now?

G: Yes, that was well put. As physicians, be take good care of your patients and you treat them well and with your good results you’re busy. You have to be successful. But. some of the strategic decisions that we make, so sometimes, I felt you know you’re lucky when the things work out well because you really don’t have the basis to know everything that you’re doing because you’re busy taking care of your patients. Having work for a number of years, certainly, I think give me different perspective on the program that maybe some of the younger people who haven’t out that long because you have experience with hospital administrator, you’ve experience with insurance companies. Those type of things take a lot of time and they’re very frustrating. I think there’s a little better appreciation for it for what you’re doing it.

N: In addition to the appreciation for that thing that kind of drives you sometimes in order to help patients above and beyond your oath to heal and do no harm. What type of changes have you seen when it comes to interacting with patients now that you have this deeper understanding of what drives the business?

G: I think with patients come to see you, they’re coming for medical problem that have the pain. We see a lot of it to their insurance difficulties that they have and you see what’s happening with the doctor was going up and premiums are going up. A lot of complaining about that, I understand that. At least I understand the reasons why they’re doing what they’re doing. My perspective, I’m a whole ACA and the changes that changes the physicians they’re kind of force on you, you’re very hesitant to take it. You’re in this program really changed my outlook on it and saying ‘Now I understand why’. What’s the best way to deal with this? The things that I can do as a physician is to help my patients out to help them understand what’s going on this also, I think it’s helpful to understand the other side, the business side, the companies are going through what the governments are going through. At least to understand that something had to change, we are very conquer on medicine …different learning, doing what you’re doing. Keep it getting cut here, be getting cut there but when you understand if you go back in and say ‘What can we do differently to give them the patients better care more than what you’re doing. Those are the types of things that you want to very early out on the program, I think it’s quite beneficial.

N: Do you think that one of the benefits of the program is being able to change the way that you do your business, the way that you procure your supplies. The way that you deal with pharmaceutical representative when they come to you. Has any of that changed or it is pretty much business as usual but now you understand where everyone’s coming from?

G: Now we’ve met a lot of changes. What’s great about this course is you’re doing things at least in my practice, there’s so many things that ideas that I had when I start doing this program and giving these classes. I tried to use real time examples to try to make changes in my practice as we’re going along with the courses. Courses in our organization of development and change class, in our operations class. A lot of it assignments where to come up with a change and I will do it on my practice. We instituted in office pharmacy based on my one of my courses we could did all financial thing for it. It’s been great for the patients, it’s been great for the practice. That’s how to those kind of things we could integrate right away. I was doing this all along in the program which made it more fun for me obviously and certainly, you’re more involved with it because it’s your practice. I found that very helpful.

N: In wrapping up Dr. Goldrath, when it comes hiring and managing staff, training staff have any of those approaches changed for the better, or at least for the efficient. The more efficient, I think efficient is better, as a result of your completion of this 21-month program?

G: Yes, I think it’s been a lot. We have a lot of classes in leadership. You learn how you always a boss. You learn how you always a leader where your efficiencies are, where your … And makes you think about ‘How do I want to approach the situation?’, ‘Where do I want to do it my employees?’. Yes it’s been very beneficial, the employees were really enjoyed it. I’ve changed some of these you going to practice by we got our six sigma green belt, and one of the classes that I was in and I’ve tried to discuss it with my employees and we got projects going in our office now and engaging them to the changes in the office. They respond very well, when they’re involved in the process. Everybody likes it, they’re all pleased liked it the program too.

N: Some great, great information about a great program. Thank you for talking with us today doctor.

G: Thank you.

N: You’ve been listening to Health Professional Radio in this Health Supplier Segment of the program. We’ve been in studio with Dr. David Goldrath, urologist in Chicago who’s an alumnus of the 21-month program offered to meet career physicians known as the ‘Indiana University Kelley School Physician MBA Program’. It’s a program that’s designed to give physicians the business knowledge in skills that they need to navigate to the changing world of healthcare. Transcripts and audio are available at healthprofessionalradio.com.au and also at hpr.fm. You can subscribe to this podcast on iTunes and at SoundCloud.