Strategically planning your medical practice. The ideal medical practice delivers quality care at affordable rates. However, with the advancement in technology, the cost of healthcare is ever increasing. Add to this, the downward pressure on fees by the third party payers, the ever increasing competition among practices, and the various strategic alliances and mergers. With a complex environment such as this, having a successful practice requires a lot of planning. Maintaining a successful practice requires more business acumen, than medical skills. And this trend is not going away. This makes strategic planning imperative for any medical practice. All decision makers of a practice should meet with a planning facilitator and take a look at the future of the practice. During this …show more content…
These interviews can last anywhere between a few minutes to an hour. Use these interviews to understand the perception of the practice in the eyes of your staff. This will further help you to identify important issues. Once the identification process is complete, work on a plan to get everyone on board your vision. Environment analysis: Environment analysis is of two parts. One is internal, and another is external. The internal analysis involves the analyzing of data like operational data, legal documents, etc. This analysis will help identify specific issues which need to be addressed during the planning process. For example, analyzing the financial data over the previous years gives you the ability to monitor trends. You can also monitor overheads, employee turnovers, etc. The external analysis will involve looking at the external data, i.e. forces in the market place that might pose a threat to your practice. Gathering information on upcoming competing groups, additional physician partners, changing relationships, demographics, etc. will help you strategize your plan. The action