How to Effectively Manage a Board of Medical Directors

Board members are essential in determining the future of a company, helping to foster accountability and governing it. But managing such a large group of personalities at all stages of their careers can be difficult especially in an intimate setting like an annual board meeting.

One of the major challenges for boards is understanding how to oversee management without influencing or micromanaging. It is crucial that board members comprehend the difference between high-level policy decisions, and lower-level management policies. It is also essential that the board has a positive relationship with management, and has clearly stated the ways in which they will participate in their deliberations.

It’s recommended to schedule regular updates via phone calls with board members for 7 to 10 days before the next board meeting. This allows the board to look ahead at issues that are on the agenda, and ensures that bad news won’t be presented at the time of the meeting.

The last step is to formulate guidelines that define the roles of the board, management and the medical team. Effectively implemented policies reduce the amount of “busy work” that needs to be done at each board meeting, helping to free up time for more strategic work.

To ensure that the board can function as an an effective partner in the monitoring process, it’s essential that it is made up of individuals who have broad knowledge across all areas of the business. This includes finance and sales marketing, operations, and finance. It will also help when some of the members have previous experience outside of the healthcare industry. This will allow the board members to acquire new knowledge and make most appropriate decisions for the company.