From a recent post at http://www.rtacpa.blogs.com/:

The following is a brief summary of the role of a managing physician in a group practice, who is usually elected for a one or two year term, depending on the size of the practice:

1. The basic role is to address issues that arise but do not require the approval of the entire group, or Board.
2. Be available to make minor day to day decisions (ex. buying a piece of furniture).
3. Reviews and signs all disbursement checks.
4. Be the administrator's direct contact in matters that he or she needs answered in between board or shareholder meetings.
5. Handles physician to physician issues within the group.