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As a new physician, it's important that you understand what the practice you're interested in is involved with. The Evaluating a Practice community has a variety of useful information to help guide you on your way.

 

 
Evaluating A Practice Contributors

Wesley D. Millican, MBA
CEO and Physician Talent Officer

Evaluating A Practice Contributor

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Wesley D. Millican, MBA

CEO and Physician Talent Officer
CareerPhysician
Wesley D. Millican, MBA, is CEO and Physician Talent Officer of CareerPhysician Advisors, LP, and CareerPhysician, LLC, providers of comprehensive talent solutions for academic children’s hospitals, colleges of medicine and academic medical centers across the nation. Mr. Millican is an acknowledged expert in completing complex faculty and executive leadership initiatives across academic medicine. He possesses a longstanding passion for career development of all young physicians and serves as a go to career resource for training program directors and their residents and fellows.

Most recently, Mr. Millican held the role of SVP and Physician Talent Officer for OU Medicine. He joined OU Medicine to lead the development of a cutting-edge academic faculty leadership talent platform. Previously, he was Founder and Chief Executive Officer of MillicanSolutions, Inc., for 17 years. The firm was a leading executive search and consulting firm, recognized nationally for its success in strategic leadership initiatives for academic medical centers and colleges of medicine prior to its acquisition by AMN Healthcare in 2015. He served as Vice President of Physician Services at Physician Reliance Network (now U.S. Oncology).

Mr. Millican has long been viewed as an expert in leadership initiatives specific to child health and the academic medical center. He has a total of 28 years of experience in search execution and has completed more than 450 complex faculty and faculty leadership assignments while keeping focus on his professional passions of student education, faculty conflict resolution, retention and succession. Additionally, and in continuing his commitment to the “future of medicine”, Mr. Millican still speaks nationally at residency and fellowship programs. His Launch Your Career ® Series is a proven resource for today’s residents and fellows and has served as a go to resource for program directors over the last 15 years.

Mr. Millican holds an MBA degree, with focus in negotiation strategy and organizational behavior from the Cox School of Business at Southern Methodist University and BBA degrees in both Marketing and Management from Texas A&M University. He has been the recipient of the National Institute for Physician Recruitment’s National Honors for Comprehensive Campaign Plans and Strategies and ACMS’s Physician Relations Executive of the Year award. Recognized as a recruiting industry expert, Millican has been published in the Wall Street Journal and was a contributor to Get Paid What You’re Worth, a book by Robin L. Pinkley, focusing on compensation and salary negotiations.

Mr. Millican serves on the Executive Committee of the McFerrin Center for Entrepreneurship, a subsidiary of the Mays Business School at Texas A&M University, and the Board of the Texas Methodist Foundation and its Institute for Congregational & Clergy Effectiveness.

Most Recent Articles

  • Operations

    Introduction: In order to effectively evaluate a practice, the operational structure and daily operations of the office must be understood. The operational efficiencies, or inefficiencies, can have a direct impact on the economic return, both short and long term, and should not be ignored. A lack of understanding of how the medical practice operates, as well as how day to day decisions are made, can at a minimum cause a great deal of frustration ...

Most Recent Terms

  • Net Collection Rate

    The net collection rate shows how much a practice collects based on what is available to be collected. This ratio is calculated by dividing the sum of total receipts and total adjustments by total charges. http://physiciansnews.com/business/502migliore...
    by admin on 05-05-2020
  • Capital Equipment Plan

    A plan to acquire or improve long-term assets such as property or equipment. http://www.revophth.com/1999/august_articles/899%20purchasing.htm
    by admin on 05-05-2020
  • Practice Administrator or Manager

    Practice managers have the responsibility for the overall running of a doctor's surgery, managing the accounts and records, and developing the practice's business strategy. They recruit, train and supervise clerical staff, and calculate and arrange...
    by admin on 05-05-2020
  • Gross Collection Rate

    A rate calculated by dividing total receipts by total charges. This indicates the percentage of total charges being collected. http://physiciansnews.com/business/502migliore.html For example, a practice charges $100 for a service. In accordance with the...
    by admin on 05-05-2020
  • G&A

    The indirect overhead costs contained within the General and Administrative expense / cost categories. http://www.fin.ucar.edu/presentations/pcpres_miscga/sld001.htm
    by admin on 05-05-2020
  • Technical Fees

    Fees charged on behalf of the physician for ancillary services provided to the patient. These services include, but are not limited to, procedures, chemotherapy, laboratory, x-rays, etc. http://www.otm.ucsf.edu/tech/SF02-092.htm
    by admin on 05-05-2020
  • Professional Fees

    Those fees charged by the physician for the professional services rendered to a patient. http://www.otm.ucsf.edu/tech/SF02-092.htm http://www.lni.wa.gov/ClaimsInsurance/Files/ProviderPay/FeeSchedules/2003FS/FsEm.pdf
    by admin on 05-05-2020
  • CPT Code

    Current Procedural Terminology. Universal system for assigning a unique numeric code to all medical procedures. http://www.ama-assn.org/ama/pub/category/3113.html
    by admin on 05-05-2020
  • Management Codes (E&M)

    Codes used to charge patients (Example: 99204 charged for a complex office visit on a new patient. http://www.coding-compliance.com/cgi-bin/article.cgi?article_id=767
    by admin on 05-05-2020
  • AR Aging

    (last 6 months, by month for 0-30, 31-60, 61-90, 91-120, 120+ days) A Report showing the outstanding AR for each of the day range categories listed above http://www.physicianspractice.com/index.cfm?method=parent&submethod=questionsdetail&QA_ID...
    by admin on 05-05-2020
  • Bad Debt

    The nonpayment of an expected reimbursement. http://www.physicianspractice.com/index.cfm?method=parent&submethod=questionsdetail&QA_ID=321&r=p
    by admin on 05-05-2020
  • Contractual Adjustments

    The difference between the amount billed at established charges for the services provided and the amount received or due from a third-party payer under a contract. http://www.sleepreviewmag.com/Articles.ASP?articleid=S0110F05
    by admin on 05-05-2020
  • Accounts Receivable (A/R)

    The balance due from a debtor, such as an insurance company and/or a patient, on an account which is currently being carried on the practice’s financials/books http://www.physiciansnews.com/business/103nealon.html
    by admin on 05-05-2020
  • Stark II Regulations

    The Physician Self-Referral Act, Section 1877 of the Social Security Act, ("Stark II") bars physician referrals for many Medicare and Medicaid-covered "designated health services" furnished by an entity that the referring physician...
    by admin on 05-05-2020
  • Production-Based Compensation Plan

    A compensation plan to pay a fee or salary based on an individual's contribution to the practice or business success. http://www.lathamconsulting.com/SR-Compensation_1.htm
    by admin on 05-05-2020

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