Board members are crucial in shaping the destiny of an organization, and also in fostering accountability and controlling it. It can be challenging to manage a large number of people at all career stages particularly in a physical location such as an annual board meeting.
One of the most difficult issues for boards is how to supervise management without influencing or micromanaging. It is crucial that board members understand the difference between high-level policy decisions and management policies. It’s also helpful if the board has a good relationship with management and that it has clearly defined how it will share its decision-making with management.
To make this happen, a good practice is to schedule regular phone updates with board members 7-10 days prior to the next board meeting. This allows the board to preview any issues that are likely to be discussed and makes sure that bad news doesn’t get delivered for the first time at the meeting itself.
The final key is to formulate guidelines that define the roles of the board, the medical team, and management. Effectively implemented policies reduce the amount of “busy work” that needs to be completed at every board meeting, helping to free up time to focus on more strategic activities.
It is vital that the board has members with a broad range of knowledge in every aspect of the company. This includes finance, sales marketing, operations and finance. It will also be beneficial when certain members have previous experience in other areas than healthcare. This allows the board members to gain new expertise and make the best decisions for the company.
