IDNs have limited financial and human resources, to ensure maximum use of our time and resources we need to provide a thorough evaluation of any industry type meeting including educational events prior to sending teammates to these meetings. Providers need to afford the opportunity to their teammates to have access to the latest in professional education because the return on investment can be significant if our teammates are attending and participating at the events that provide the most value. The goal for opening up these opportunities is that our teammates will bring back key information that can be utilized within our organization to help drive our organizations value proposition.
During our annual budgeting process we identify all the key meetings and educational events that would be the perfect fit for the varying backgrounds of our resources. We then evaluate the cost, the time out of the office vs. the return on the investment. The keys for us are the educational sessions, the networking opportunities with our peer group and key suppliers that we need to meet with, additionally we also look at the opportunity for our team to participate in panel discussions or leading or partnering in presentations.
Once we identified all the meetings against our criteria we include these into our fiscal year budget. Even though we have budgeted for these events there are circumstances when certain economic pressures will force us to forgo a meeting that was budgeted for, but that is the nature of the business we are in. Financial consideration is the key driver so the events that provide the maximum value for our limited dollars will get our attendance.
In closing there is a tremendous amount of industry and educational events throughout the course of the year, with so many options to choose from combined with the challenges of the healthcare industry from the provider side we have to be very prudent and smart in our choosing what meetings and or events e we will attend. The key deciding factors are the value we will get from the education sessions and the networking, the meetings and events that provide these two key elements gets our attention, resources and dollars.
Larry Dooley l VP Group Purchasing l ROi