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Board members are crucial in determining the direction of an organization, encouraging accountability and governing it. But managing such a large group of individuals at all stages of their careers can be challenging particularly in a live setting such as a board meeting.
One of the biggest challenges for boards is how to oversee management without micromanaging or interfering. It is essential that board members understand the difference between high-level policy decisions and lower-level management policies. It is also important that the board has a good relationship with management and has clearly stated how it plans to share its decisions with management.
It is a good idea to schedule regular updates on telephone with board members for 7 to 10 days prior to the next board meeting. It allows the board to review any issues that are likely to be discussed at the meeting and makes sure that bad news doesn’t get made public for the first-time at the meeting itself.
The last step is to develop policies that outline the responsibilities of the board, the medical team and the management. Effectively implemented policies decrease the amount “busy work” during each board meeting. This allows valuable time for strategic activities.
It is important that the board is comprised of members with a wide spectrum of knowledge across all areas of the organization. This includes finance, sales marketing, operations, and finance. It is also beneficial to have some members who have experience in different areas than healthcare. This allows the board to draw knowledge from different sources and make the best possible decisions for the company.