Group Practice Executive Job Description [Updated for 2024]

In the ever-evolving healthcare landscape, the necessity for Group Practice Executives has never been more crucial.

As medical practices grow and evolve, the demand for visionary leaders who can organize, supervise, and direct the operations of our healthcare groups escalates.

So, what are the actual expectations from a Group Practice Executive?

Whether you are:

• A job seeker trying to comprehend the scope of this role,
• A hiring manager sculpting the perfect candidate profile,
• Or simply intrigued by the dynamics of group practice management,

You’ve landed in the right place.

Today, we reveal a customizable Group Practice Executive job description template, designed for effortless posting on job boards or career sites.

Let’s delve right into it.

Group Practice Executive Duties and Responsibilities

Group Practice Executives are responsible for the strategic planning, financial management, and daily operations of a multi-physician medical practice.

Their role is to ensure the practice provides high-quality healthcare while achieving financial sustainability.

The following are the key duties and responsibilities of a Group Practice Executive:

• Develop and implement strategic plans and objectives in line with the practice’s mission and goals
• Oversee daily operations, ensuring the clinic runs smoothly and efficiently
• Manage financial aspects of the practice, including budgeting, billing, and financial reporting
• Ensure compliance with healthcare regulations and laws
• Recruit, hire, train, and supervise staff, promoting a positive and productive work environment
• Negotiate contracts with insurance companies, vendors, and healthcare providers
• Implement and maintain electronic health record (EHR) systems
• Oversee patient services, ensuring high-quality care and satisfaction
• Facilitate communication between physicians, staff, and patients
• Analyze data and metrics to identify areas of improvement and opportunities for growth
• Stay informed of advancements and changes in healthcare technology and regulations
• Manage relationships with partners, stakeholders, and the local community

 

Group Practice Executive Job Description Template

Job Brief

We are seeking a highly experienced and motivated Group Practice Executive to oversee the day-to-day administrative functions of our healthcare facility.

The ideal candidate will have a solid background in medical practice management and excellent understanding of healthcare regulations and medical terminologies.

The Group Practice Executive is responsible for ensuring that the facility’s activities align with established policies, quality standards, and objectives.

They will also coordinate with medical staff, manage budgeting and financial operations, and ensure patient satisfaction.

 

Responsibilities

• Oversee day-to-day management of the healthcare facility
• Coordinate with medical staff and ensure that the facility’s activities align with established policies and quality standards
• Develop and implement strategies for improving operational efficiency
• Manage budgeting and financial operations
• Ensure compliance with healthcare regulations and medical laws
• Handle patient complaints and ensure patient satisfaction
• Provide leadership and direction to the administrative staff
• Establish and maintain professional relationships with stakeholders
• Perform human resource functions including hiring, training, scheduling and performance evaluation

 

Qualifications

• Proven experience as a Group Practice Executive or similar role in healthcare administration
• Knowledge of healthcare regulations and medical laws
• Understanding of medical terminologies and principles
• Excellent leadership and organizational skills
• Strong financial and business acumen
• Excellent problem-solving abilities and communication skills
• Bachelor’s degree in Health Administration, Business Administration or a related field. Master’s degree preferred

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Group Practice Executive
• Work Environment: Office setting within a healthcare facility. Some travel may be required for meetings or conferences.
• Reporting Structure: Reports to the Board of Directors.
• Salary: Salary is commensurate with experience and qualifications, as well as market and business considerations.
• Pay Range: $150,000 minimum to $300,000 maximum
• Location: [City, State] (specify the location)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Group Practice Executive Do?

Group Practice Executives work in healthcare organizations that involve a group of healthcare professionals such as doctors, nurses, specialists, and other healthcare providers.

They are primarily responsible for managing the daily operations and strategic direction of the group practice.

Their responsibilities include budgeting, financial management, contract negotiations, and ensuring compliance with healthcare regulations and laws.

They are also responsible for strategic planning, including the development and implementation of growth strategies and practice goals.

Group Practice Executives often work closely with the clinical staff, making sure they have the necessary resources to deliver high-quality patient care.

They also oversee the hiring, training, and management of non-medical staff.

In addition, they are responsible for developing and maintaining relationships with other healthcare providers, insurance companies, and patients.

They often represent the practice in negotiations with insurers and in community outreach efforts.

Group Practice Executives play a critical role in ensuring the financial viability of the practice, the satisfaction of its patients, and the professional development of its staff.

They must have excellent leadership skills, a deep understanding of the healthcare industry, and strong financial acumen.

 

Group Practice Executive Qualifications and Skills

A Group Practice Executive should possess a unique set of skills and qualifications to manage healthcare operations effectively, these include:

• Strong leadership skills to direct, manage, and motivate staff effectively across different departments within the group practice.
• Understanding of healthcare management and healthcare delivery systems, with knowledge of medical office operations, staff management, and patient services.
• Strong financial acumen to manage budgets, financial planning, and revenue cycle management.
• Excellent communication skills to interact effectively with healthcare professionals, staff, and patients, and to serve as a representative for the practice in external meetings.
• Ability to implement and uphold regulatory compliance standards, ensuring the practice adheres to healthcare laws, regulations, and ethics.
• Problem-solving and decision-making skills to address operational challenges, improve service delivery, and make strategic decisions for the practice.
• Experience with healthcare technology systems, including electronic health records and practice management software.
• Customer service skills to ensure patient satisfaction and retention.

 

Group Practice Executive Experience Requirements

Group Practice Executives typically have several years of experience, usually 5 to 10 years, in healthcare administration or management.

They often begin their careers in entry-level administrative roles within a healthcare setting, gaining a detailed understanding of the operations, regulations, and financial aspects of managing a medical practice.

Many Group Practice Executives advance in their careers by assuming positions of increasing responsibility within a group practice setting.

This might include roles such as practice manager, operations director, or department head.

These roles not only provide valuable experience in managing teams and coordinating patient care, but also develop skills in strategic planning, financial management, and regulatory compliance.

Candidates with more than 10 years of experience in healthcare management often have significant leadership experience, including overseeing large teams, managing multiple departments, and strategic planning.

These individuals are well-prepared to handle the high-level responsibilities of a Group Practice Executive role, including strategic decision making, financial oversight, and ensuring quality care for patients.

Additional experience in areas such as human resources, marketing, and information technology can also be beneficial for Group Practice Executives, as these areas are often integral to the successful operation of a medical practice.

 

Group Practice Executive Education and Training Requirements

Group Practice Executives typically require a bachelor’s degree in health administration, business administration, or a related field.

This role involves managing group medical practices, so foundational knowledge in healthcare management, finance, human resources, and marketing is essential.

Many employers prefer candidates with a master’s degree in business administration (MBA) or health administration (MHA).

An advanced degree can provide a deeper understanding of the healthcare industry, business operations, and strategic planning.

Some positions may require Group Practice Executives to have certain certifications, like the Certified Medical Practice Executive (CMPE) credential from the American College of Medical Practice Executives (ACMPE).

This certification validates their expertise and knowledge in the field of medical practice management.

Moreover, Group Practice Executives should have several years of experience working in a healthcare setting, preferably in a leadership role.

Their experience should involve managing personnel, budgets, and health care policies.

Continuing education is encouraged to stay abreast of the ever-evolving healthcare laws, trends, and technologies.

 

Group Practice Executive Salary Expectations

A Group Practice Executive typically earns an average salary of $114,143 (USD) per year.

However, this can vary greatly depending on several factors such as the size of the group practice, location, years of experience in the field, and the level of responsibility within the role.

 

Group Practice Executive Job Description FAQs

What skills does a Group Practice Executive need?

Group Practice Executives should possess strong leadership and managerial skills, as they are responsible for overseeing a team of healthcare professionals.

They should also have excellent communication and interpersonal skills to liaise with different stakeholders, including doctors, staff, and patients.

Business acumen, financial management, strategic planning, and understanding healthcare laws and regulations are also essential skills for this role.

 

Do Group Practice Executives need a degree?

Yes, Group Practice Executives typically require a bachelor’s degree in health administration, business administration, or a related field.

However, many organizations prefer candidates with a master’s degree.

This role often requires significant experience in healthcare management or administrative roles.

 

What should you look for in a Group Practice Executive resume?

On a Group Practice Executive resume, look for a strong educational background in healthcare or business administration.

Significant experience in healthcare administration or management is also crucial.

Look for past roles that demonstrate leadership, strategic planning, budget management, and compliance with healthcare regulations.

Additional skills such as conflict resolution, team building, and advanced communication are also valuable.

 

What qualities make a good Group Practice Executive?

A good Group Practice Executive is a strong leader who can guide and motivate a team of healthcare professionals.

They should be able to think strategically, making decisions that benefit the organization in the long-term.

They should also have a deep understanding of healthcare regulations, finance, and business operations.

A patient-centered approach, excellent communication, and problem-solving skills are also key qualities.

 

What is the role of a Group Practice Executive in healthcare?

The Group Practice Executive plays a crucial role in managing the business operations of a healthcare group practice.

Their responsibilities include overseeing day-to-day operations, developing strategic plans, managing budgets, ensuring compliance with healthcare regulations, and leading a team of healthcare professionals.

They also play a key role in patient care, as they work to improve the efficiency and quality of care provided by the practice.

 

Conclusion

And there you have it.

Today, we’ve pulled back the curtains on the reality of a group practice executive role.

You know what?

It’s not just about managing a team.

It’s about orchestrating the healthcare system, one decision at a time.

With our essential group practice executive job description template and real-world examples, you’re ready to make your move.

But why limit yourself?

Dive deeper with our job description generator. It’s your next step to crafting razor-sharp job listings or refining your resume to perfection.

Remember:

Every decision you make is a part of the larger healthcare system.

Let’s shape the future of healthcare. Together.

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