Latest / Off the Chart: A Business of Medicine Podcast / S1 Ep89: Staying resilient with Andrew Swanson, M.P.A., FACMPE, of MGMA
Transcript
- Andrew Swanson 00:00:00 The way we get through that is together. And sure, sometimes that calls for tears and in other times that calls for a joke. And I think finding the levity and the joy in which all of us started to get into healthcare and medical practice specifically, I think that really takes us back to who we are and why we do this. Austin Luttrell 00:00:32 Welcome to Off the Chart. This is a medicine podcast featuring lively and informative conversations with healthcare experts, opinion leaders, and practicing physicians about the challenges facing doctors and medical practices. My name is Austin Littrell. I'm the assistant editor of Medical Economics, and I'd like to thank you for joining us today. In this episode, Keith Reynolds, editor of Physicians Practice, spoke with Andrew Swanson, senior vice president of product strategy and sales at MGMA, to live at the MGMA Leaders conference in Orlando. It's Washington Senators perspectives on the financial pressures facing practices today, from rising costs to shrinking reimbursements. They discussed how technology can ease administrative burdens. Why it's important to think about patients as consumers, and how leadership, community and even humor can help practices stay resilient and tough times. Austin Luttrell 00:01:15 Andrew, thank you again for joining us. And now let's get into the episode. Hey, folks. Keith Reynolds 00:01:28 Today we're sitting with Andrew Swanson, the chief revenue officer of the Medical Group Management Association. We're down here live in Orlando for their Leaders Conference 2025. How are you doing today, Andrew? Andrew Swanson 00:01:39 I'm well, thanks, Keith, for having me. Keith Reynolds 00:01:40 Oh, it's absolutely a pleasure. All right. So let's get right into it. From your vantage point at MGM, what's the biggest financial challenge that practices are facing right now? Andrew Swanson 00:01:51 No doubt about it. It's compressing reimbursement. I mean, we hear it every day and we share in the struggle. I mean, you know, with overhead costs rising Exorbitantly over the past few years and reimbursement simply not keeping up. all of our members and customers are squeezed, and I wish there was more we could do on the revenue front to to to make more. But when reimbursement is collapsing as. As it is, as Medicare rates are getting cut in private payers following along. Andrew Swanson 00:02:24 uncompensated care going up. you know, the revenue just isn't where it was. And with costs going up so significantly, it's just putting an untenable squeeze. On things. Keith Reynolds 00:02:36 All right. So. Multiple Speakers 00:02:38 you know. Keith Reynolds 00:02:39 Like you were mentioning. You know, there's a there's. A tight squeeze, money wise. What are some new ways that the organization is bringing more value to its members? Andrew Swanson 00:02:48 Yeah. I think what MGM is trying to do is find those solutions that can really help kind of the operations of the medical group function a little bit more efficiently. of course, here at the conference, we're talking a ton about technology, not just AI, but all of those systems that can really help augment staff or where staff is vacant because vacancies can't can't fill staff. you know, looking at the ways to really affect some things that have been labor intensive, in replacing those with not just technology, but better operating principles and processes. And that's largely what the association is trying to do, is introduce those things that are going well for practices around the country, to other folks who are feeling this squeeze, helping reduce kind of that overhead burden, take some cost out of the business, or at least make the costs more manageable. Andrew Swanson 00:03:39 so that even in a, in an arena where reimbursements are shrinking, we can still keep that margin of profitability. And so groups can continue to thrive and serve the communities they need to serve. Multiple Speakers 00:03:54 Say, Keith, this is all well and good, but what if someone is looking for more clinical information? Multiple Speakers 00:04:00 Oh, than they want to check out our sister site, Patient Care online.com. The leading clinical resource for primary care physicians. Again that's patient care online.com. Keith Reynolds 00:04:13 What's the main theme or message that you guys are hoping that leaders are taking away from this year's conference? Andrew Swanson 00:04:19 Yeah, two I would say so. The theme of this year's conference is next is now. And I think closely aligned to that message. And I'll explain a little bit more about why we think that's important is, you know, we're trying to have folks see the world as it is, not as they fear it could possibly become or or maybe not through rose colored glasses in the way they hope it would be, but really embracing people's kind of leadership at whatever level inside of a medical group that they happen to sit at and taking on the onus of the future is now. Andrew Swanson 00:04:48 Right. I mean, now is the time to act. And so taking this notion of if I understand the problems of today, thinking about our patients, thinking about our providers, and thinking about the medical group as an enterprise, as a team, and thinking a little bit more about that which can be resolved today, and really taking some practical action on on how to make change today and really empowering folks to really take the onus of of that, of that ownership and own the problems and challenges that they have, and really looking at solutions and providing that guidance and support along the way. And so, we just want people to kind of, you know, live in the now, right? I mean, take, take, take the take the reins. Right, right. Today. And I think, I think we've got a group of empowered leaders who really want to, to be released. Right. Given given that a mantle of responsibility and really harness kind of their energy and excitement around solving some, some tough challenges. Andrew Swanson 00:05:45 and that's not overnight. Sometimes it takes, you know, weeks and months and years to solve some of these things, but really feeling kind of empowered to do that and then sharing community and allowing people to, to talk to one another through their ups and downs and trials and tribulations and, and sharing the wins along the way. Because I think there's plenty of those to to to celebrate as well. Keith Reynolds 00:06:04 All right. Multiple Speakers 00:06:05 so, you know, there's you. Keith Reynolds 00:06:07 Mentioned, you know, the squeeze of reimbursements. we're also hearing a lot about, like, staff shortages since the pandemic and things like that. You know what? What's really keeping practice leaders up at night. Andrew Swanson 00:06:19 Well, I mean, the simple existential viability question, I think, is, you know, first and foremost, can we keep our doors open? but I've, I've talked a lot this this week so far about, thinking about our patient base and our communities differently. and I think it's very resonant with folks. We live in the digital age. Andrew Swanson 00:06:37 Many of our patients now have become digital natives. And so, you know, ten years ago, we used to grouse about people coming in with WebMD open on their phones and self diagnosing and all those things. And now I think a lot of those gripes have gone away because like I said before, we're living in this is the way it is. and so thinking about patients in a kind of consumer friendly, experience oriented consumerism culture, I think is it's actually maybe ten years ago might have been a scary place to live and maybe an ethereal concept, but it is now that that's the world we live in. And thinking about patients is not just in a consumer or customer sort of way, but one that we want a deep customer relationship with. Of course, there are patients. They are in our care and making sure that we're serving them in a way that is both kind of emboldening, that trust they have in their provider, but also in a consumer friendly and engagement friendly way. I mean, we want patient excitement and patient engagement and in their care and treatment plans, but we also want them to have scheduling flexibility, and we want to have the flexibility to adapt and meet them where they are, both in their care journeys and their lives in general. Andrew Swanson 00:07:45 So I think the more that groups are adopting and taking on that notion of customer friendliness, consumerism, where these may have been before, maybe bad words. I think now the groups that are finding success can find empowerment and success financially, as well as in service to their patients in their communities by embracing kind of that consumerism mentality. Keith Reynolds 00:08:13 Hey there, Keith Reynolds here, and welcome to the P2 Management Minute. In just 60s, we deliver proven real world tactics you can plug into your practice today, whether that means speeding up check in, lifting staff morale, or nudging patient satisfaction north. No theory, no fluff, just the kind of guidance that fits between appointments and moves the needle before launch. But the best ideas don't all come from our newsroom. They come from you got a clever workflow hack and employee engagement win, or a lesson learned the hard way. I want to feature it. Shoot me an email at Kay reynolds@lifesciences.com with your topic, a quick outline, or even a smartphone clip. We'll handle the rest and get your insights in front of your peers nationwide. Keith Reynolds 00:08:53 Let's make every minute count together. Thanks for watching and I'll see you in the next P2 management minute. Keith Reynolds 00:09:03 If you had to name one leadership skill that's absolutely critical for medical group leaders today, what would it be? Andrew Swanson 00:09:09 I'm laughing because I really think some of it is about finding the fun and joy in what we do. nobody wants to say like a leader should be fun, but I think finding humor and lightness in some of some very, very difficult situations, whether it's the financial viability of your practice or a bad, you know, patient experience, these are very serious and things that we deal with day in and day out. And the way we get through that is together. And sure, sometimes that calls for tears and in other times that calls for a joke. And I think finding the levity and the joy in which all of us started to get into health care and medical practice specifically, I think that really takes us back to who we are and why we do this and finding the pleasure, enjoying that. Andrew Swanson 00:09:57 And that's not just for care providers. I think when physicians and nurses have these great patient experiences and they share them with others. Yes, it warms people's hearts. And that's why we're here in this business. It's calling for many people. And that doesn't happen to a front desk administrator viscerally, right. They get the secondhand story, but they can laugh with patients, they can tell them a joke, and they can receive that, that same joy and pleasure sitting in their role. And yes, dealing with a patient's finances is tough. And when people can't pay their bills and they're struggling with health care costs, yes, that's very heavy. And we're all people together. And so we can find joy and levity in the day to day as well. And I think when leaders bring that to bear, I think they're, they're human. they bring their whole person to the table and that's in good days and bad days. But I think when we can joke and have fun with our staff and with our patients, and I think things get a lot easier and a lot more fun. Keith Reynolds 00:10:55 It's the old cliche if you love what you do, you never work a day in your life, right? Yeah. All right. So I'm going to ask you to whip out your crystal ball real quick. Looking ahead. Multiple Speakers 00:11:05 What's. Keith Reynolds 00:11:05 One piece of advice you'd give? Practices to position themselves for success in 2026? Andrew Swanson 00:11:11 Yeah. you know, I hate to harp on it because it's so much in the news these days, but I think this notion of using technology is going to be where it's at. I think the success of practices is going to depend on it. I think the notion of being able to find, staff ongoing, qualified engage, you're going to find those people who want to be a part of your medical practice, and we hold on to them for dear life. And if we're doing a good job of scaling our businesses and serving broader swaths of the of the population, as we open access up, we are going to be resource constrained. So the way we actually serve giant swaths of population, bigger and bigger swaths of populations is going to be with technology. Andrew Swanson 00:11:55 And I don't mean in replacement of it. We're not going to see the robot tomorrow to think about our health. But I think the way we leverage technology, especially on the back end. Administrative end is going to allow our businesses and medical practices first and foremost, our business and our customers. Our patients are going to look to us to make sure we have the technology to serve them. So I think it's incumbent upon us to find the people who we can connect with, who who understand how to utilize technology, how to augment the staff practices and processes that we rely on in order to serve the patients we serve today and do it better, faster and cheaper so that we can remain viable. And I think finding those not just the technologies themselves, but the people who can help us implement use in really great efficiency. I think it's that combination of people and technology that's going to improve the processes and help us do what we do better, and for more people. Keith Reynolds 00:12:49 All righty. That's all the questions I got for you. Keith Reynolds 00:12:51 Anything that you think I've overlooked or anything you want to add? Andrew Swanson 00:12:55 I think MGM in the community we serve does amazing work, and I think the stress we're under as an industry is real, but I think there is a way. Through that challenge and being successful in the end. And I think we're one resource to to help with that. And I know there's many others and I just want people to embrace their community. I think the more we do this together, I think the more success we're going to find. And even when we are struggling, we will have somebody to struggle through it with. And I think that makes the struggle and challenge even easier. And then we can share in that success at the end together. And that's that's great. I can't wait for those days. Keith Reynolds 00:13:35 Fantastic. All right. Thank you so much for joining us. It's been an absolute pleasure. Andrew Swanson 00:13:39 Thanks, Keith. Anytime. Austin Luttrell 00:13:52 Once again, that was a conversation between Keith Reynolds, editor of Physicians Practice, and Andrew Swanson, senior vice president of product strategy and sales at MGMA. Austin Luttrell 00:14:01 Live from the MGMA Leaders Conference in Orlando. For more insights from Orlando, click the link in the show notes down below or visit our conference page at Medical Economics. My name is Austin Littrell, and on behalf of the whole Medical Economics and Physicians practice teams, I'd like to thank you for listening to the show and as you please, subscribe so you don't miss the next episode. Be sure to check back on Monday and Thursday mornings for the latest conversations with healthcare experts, sharing strategies, stories, and solutions to your practice. You can find us by searching off the chart wherever you get your podcasts. Also, if you'd like the best stories that Medical Economics and Physicians Practice published delivered straight to your email six days of the week, subscribe to our newsletter so that medical economics calm and physicians practice calm. Off the chart A Business of Medicine podcast is executive produced by Chris Mazzolini and Keith Reynolds, and produced by Austin Littrell. Medical economics, physicians practice and Patient Care Online are all members of the MJH Life Sciences family. Austin Luttrell 00:14:57 Thank you.