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The future of anesthesiology (and how to thrive)

June 14, 2021
Business Affairs

So, in summary, the future of anesthesiology is here now. These trends have been evolving for a long time and should not surprise anyone. In fact, it is pretty much just common sense and basic economic theory. In a marketplace where revenue is inelastic, the players must compete on cost without sacrificing quality. The companies that understand this and respond accordingly will survive and thrive. Everyone else will find themselves in a clear strategic disadvantage. Here are some tips on how to succeed in this new environment:

1. With the current provider supply/demand imbalance at something like 10%, recruiting and retaining clinical talent should be a top priority. Therefore, creating a dynamic and purpose-driven culture that values the contributions of these professional is imperative.
2. Make major investments in the development of your clinical leadership. With the intensification of competition for contracts and talent, having clinicians with leadership acumen--especially diplomacy and relationship skills--is critical to winning and maintaining contracts. Beyond this, ensure that you have clinical talent, both physician and CRNA, in high-profile and high-impact roles within the organization. These drives culture as well as better clinical and business decisions.

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3. Revaluate and evolve your practice models. The future of anesthesiology will be providers, both CRNA and physician, practicing at the top of their license. The sooner this is realized, the better positioned you are to succeed.
4. Move fast – the ground is shifting underneath your feet.

About the author: Randall D. Moore, DNP, CRNA, MBA, is the CEO of the American Association of Nurse Anesthetists.

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