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Elizabeth Bostock MD, PhD

Medical Management, 2014

Physician, Obstetrics and Gynecology, Associate Physician Advisor, and Lead Physician
Rochester Regional Health System and Rochester General Medical Group

As an experienced physician, educator, and health care administrator, Elizabeth Bostock knew she needed to learn more about the business aspects of her industry. Responsible for patient care, teaching residents, and managing her organization’s outpatient office, Elizabeth says what she learned at Simon helps her be a better manager and more than a passive observer to the sweeping changes in her industry. “I really wanted to do the Medical Management program so that I could be a person who was promoting and shaping health care in this time of transformation,” she says, “rather than a person who was simply reacting to what was going on.”

Part of what Elizabeth sees happening are the results of significant growth in the health care industry. “For many years, health care in our country was running without respect to costs and little attention to a balanced budget,” she says. “As a result of that, many organizations now realize they have to think and act like corporations—because the bottom line is if there’s no margin, there is no mission.”

One method Elizabeth sees to improving care and operations efficiencies is to analyze new information and generate more specific data. “Medical care is a system that’s been operating without feedback at all,” she says. “Every physician thinks that he or she is the best doctor, or being cost efficient. But the reality is that we don’t know what really works in the most cost efficient way. Some of the medical management strategies that are going into place today will allow us to answer the questions of what is the most efficient care in the future. It will take years of analyzing the data to see what works best, but putting those feedback systems in place is a big first piece of part of what has to happen.”

According to Elizabeth, there is great value in clinicians learning more about the business of health care. “It’s like learning a new language,” she says. “Just understanding balance sheets, cash flow statements, and operational principles offers me new perspectives on medical care. Simon offers a whole package that allows you to focus on detail, but also see broader picture and see how those details are affecting each other. I really didn’t understand any of that before this program but I definitely feel like I have those skills now.”

Elizabeth Bostock Bostock

“I enrolled in the Medical Management program because I realized what I didn’t know about the business side of medicine was holding me back—both in terms of taking care of patients and keeping up with regulatory changes in health care.”

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