Balancing Mission and Margin in Healthcare: A Candid Conversation with Dr. Ben Schwartz
In this episode, host Stacey Richter engages in a deep dive with Dr. Ben Schwartz to explore the phrase 'No Margin, No Mission' and its practical implications in the healthcare industry.
They discuss the complex relationship between profitability and mission-driven care, the challenges of value-based care, and the role of dyad leadership. The episode emphasizes the importance of transparency, regulatory measures, and trust in fostering a balance between mission and margin. Along the way, Dr. Schwartz shares insights from his new role at Commons Clinic and addresses broader systemic issues like regulatory capture and the subjective nature of defining value in healthcare.
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08:50 Sister Irene Kraus and the origin of no margin, no mission.
10:01 Margin and mission versus profit and profiteering.
12:45 Stacey's manifesto (EP400).
13:01 What is the broad mission within healthcare?
14:12 What is mission drift within healthcare?
15:54 EP474 with Yashaswini Singh, PhD.
17:26 Why do we struggle with balancing margin and mission?
20:47 EP455 with Beau Raymond, MD.
20:52 How does value vary?
23:18 EP326 with Rishi Wadhera, MD, MPP.
23:53 What needs to happen to balance margin with mission?
28:29 Why does everything come down to trust?
28:33 EP391 with Scott Conard, MD.
30:30 EP419 with Andreas Mang.
32:21 What are the "vectors of change" to create balance between mission and margin?
32:43 EP475 with Peter Hayes.
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