One of the products we offer with our Healthcare Marketing & Practice Management Systems is a series of concise but effective self-assessments for healthcare professionals to audit their management and marketing practices.
For instance, we challenge professionals to assess their strategic planning process. Following is an example of our strategic planning self-assessment. This is one of twenty-two self-assessments that come with the Business Audit portion of the program.
The purpose of these self-assessments is to give you a concise checklist of best practices in a clinical practice. This checklist follows the Pareto Principle of focusing on the 20% of business practices that get you 80% of the results. Therefore, we don’t claim that it covers EVERYTHING. But it does cover a good percentage of the most important things.
Let us know your thoughts, and whether you do adequate strategic planning in your practice.
- We do a strategic planning process at least annually.
- This process gathers input from key stakeholders and data about our marketplace.
- We review our mission and vision for the practice.
- We assess the size and growth of the market for our services.
- We compare our own “penetration” to the size of the market.
- We assess trends in managed care and payments.
- We evaluate competitors’ strengths and weaknesses, and how we can gain an edge.
- We assess the strengths and weaknesses of our referral network.
- We evaluate the depth and breadth of our overall service offerings.
- We assess the strengths and weaknesses of our marketing.
- We assess our payers, including our payer mix.
- We evaluate our clinical utilization rates and quality or care outcomes.
- We evaluate our cost controls.
- We evaluate our cost structure and financial ratios.
- We review our technology.
- We take a hard look at the patient’s experience, and how to improve it.
- We assess the capabilities of our clinicians and staff and identify any gaps to fill.
- We review physician and staff compensation.
- We assess our risks, compliance, and malpractice insurance.
- We evaluate our relationship with local hospital(s).
- We analyze our financial strength, including capacity for debt, days receivables, trends in aging of receivables, payer and patient mix, and profitability by services.
- We assess our facility and location, including whether we are located in the optimal zip code/area to serve our desired patient base.
- We do an overall “Strength, Weaknesses, Opportunities, and Threats” or SWOT analysis about our practice.
- We determine which services and programs to expand, which to defend, and which to exit.
- We identify the top issues we need to address, and then identify key priorities to address these issues, achieve our vision, and be more competitive and profitable.
- We set annual performance/financial goals for our practice and develop a plan to achieve those goals.
- We assign specific accountability to achieve these initiatives, and a communication plan to follow up on them.