Toward a Social Capital Theory of Competitive Advantage in Medical Groups

Social capital can have a positive impact on medical group performance. We forward our theory based on the integration of theories in social capital, resource advantage, and the resource-based view of the firm. Further, we suggest specific ways in which medical groups can increase their levels of so...

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Bibliographic Details
Published in:Health care management review 2005-04, Vol.30 (2), p.103-109
Main Authors: Hoelscher, Mark L., Hoffman, James J., Dawle, David
Format: Article
Language:English
Subjects:
Clinics
Corporate culture
Efficiency, Organizational
Employees
Group Practice - economics
Group Practice - organization & administration
Health Manpower
Human resource management
Humans
Interpersonal Relations
Organizational Culture
Physicians
Social capital
Social responsibility
Studies
United States
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Summary:Social capital can have a positive impact on medical group performance. We forward our theory based on the integration of theories in social capital, resource advantage, and the resource-based view of the firm. Further, we suggest specific ways in which medical groups can increase their levels of social capital. First, medical groups should design or redesign the workplace so that there is ample interaction among employees. Second, employee participation within the community should be encouraged. Third, medical groups should recognize that social capital becomes ingrained in organizational culture. Therefore, medical groups should take steps to ensure a culture that supports its social capital. Fourth, hiring procedures should be designed (or redesigned) to ensure that new employees add social capital to the organization. Finally, trust must be fostered at the employee level.
ISSN:0361-6274
1550-5030
DOI:10.1097/00004010-200504000-00004