Coaching Doctors in Industry - Is the Investment Worth it?

Hiya

Last night I went to a health tech networking event for clinicians in London at the Accurx offices.

One of the speakers was Dr. Susan Thomas who is the Clinical Director at Google Health UK.

She spoke about her diverse career journey as a doctor which took her to Oz, Partner in EY and then to where she is now at Google Health.

She reflected on the value of coaching for doctors in career change as there was little to no support for her when she was moving.

The reality is, doctors still aren’t really that familiar with coaching, don’t receive it in their clinical roles, and whether they receive it in industry roles or not seems to be a bit of a lottery depending on organisational culture.

As doctors are expensive, it is important that coaching is seen an investment vehicle to maximise the returns they bring to any organisation.

So the question is, what is the evidence behind coaching and the ROI?

The stats

(thanks to Louisazhou.com)

• According to Eric Schmidt, Google and Apple owe much of their trillion-dollar valuations to their business coach, Bill Campbell.

• 62% of coaching clients say they improved their career opportunities thanks to coaching. ( 2009 ICF Global Coaching Study)

• 51% of organizations with strong coaching cultures report a higher revenue than similar companies. (Human Capital Institute)

• 86% of companies that could calculate their return on investment said that they at least made back their initial investment. 19% indicated an ROI of 50x the investment. 28% saw an ROI of 10-49x the investment. The median ROI is 7x the investment. (2009 ICF Global Coaching Study)

Our Experience

We have seen, personally experienced and delivered on the value of coaching & mentoring within our community.

Doctors becoming recognised Leaders in Industry in less than half the time it took for them to go through specialty training.

Our business doubled in revenue and engagement with doctors in our community.

Hence this is why coaching is such an important element of our Doctors in Industry Incubator in a group and 1-1 setting.

Do you advocate for coaching doctors within or outside industry roles?

If so, what outcomes have you observed?

I’d love to hear from you.

Warm wishes

Abeyna

Founder and CEO of Medic Footprints

Occupational Health Physician

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