Apologies have a financial benefit

The "prudent" advice to avoid apologizing for mistakes (to avoid an admission of guilt) may not be good counsel after all.

As a matter of fact, apologizing competently and well can avoid costs.

Yesterday, there was a segment on National Public Radio's "Talk of the Nation" program with host John Donvan on which the benefits of making good apologies, and how to do it, was explored.  

Not only can you read the transcript, but you can hear the interview in its entirety.  The interview featured a medical doctor (Dr. Manoj Jain) and two psychologists (Dr. Jennifer Robbennolt and Dr. Guy Winch), all of whom had expertise on the benefits of sincere apologies.  

This is great stuff.  Hope you will take the opportunity to check it out.

You can also view the University of Michigan's policy on disclosure of and apology for medical mistakes here.