Nick Hernandez, MBA, FACHE
Nick Hernandez, MBA, FACHE, is the CEO and Founder of ABISA, a consultancy specializing in solo and small group practice management. He has consulted with clients in multiple countries and has over 20 years of leadership and operations experience. His emphasis has been on developing and maintaining a strong relationship with physicians and identifying areas for business opportunity and support. He holds MBA degrees in both Operations Management and Information Technology & E-Business Management from Wake Forest University. He is also Board Certified in Healthcare Management and has been named a Fellow of the American College of Healthcare Executives.
The Reasons Why Medical Practices Merge
Medical practices merge to lower costs & increase capacity, but diversification, survival during tough times, and competitive advantage play a role as well.
The Competitive Advantage of Strategic Planning
Medical practices that consistently apply a disciplined approach to strategic planning are better prepared to evolve as local markets change and industry undergoes reform.
Successful Medical Practice Succession Planning
Succession planning is one of the most important decisions a physician will face, yet many neglect to plan their exit until they're ready to retire.
Do You Know the Shared Vision of Your Private Practice?
It is imperative that all physician owners have a shared vision and that all staff members are aware of the desired future direction of the practice.
What Medical Practices Should Know About Joint Ventures
Forming a joint venture with another healthcare organization may be seen as a plausible solution. The success of a joint venture though highly depends on thorough research and analysis of the objectives. Here are some pros and cons of joint ventures for medical practices.
How to Meet the Challenge of a Strategic Merger of Practices
The decision to merge should be fully vetted before physician groups decide to go ahead given the risks and the average performance of returns.
Is a Joint Venture Right For Your Practice?
A joint venture is an agreement between two or more healthcare entities usually entered with a specific goal in mind. Each party is invested in terms of capital contribution, the time and effort put forth to complete the defined tasks. The partners pool their resources and expertise and share in the risks and rewards.
The Importance of Succession Planning for Your Medical Practice
Succession planning isn't something you can do once and forget. It is also advisable to have at least annual discussions with key employees regarding succession planning, including how to manage effectively during a transition.
Considerations Before a Physician Practice Merger
For those that are considering merging with another private practice entity, there are many things to strategize about vice just assuming there will be a windfall of benefits by consummating a merger.
Selling a Medical Practice? Here’s What You Need to Know
Valuing a medical practice is more of an art than a science and you must always keep in mind that the "Asking Price" is NOT the purchase price.
A Guide to Strategic Diligence for Physician Practice Mergers
For those that are considering merging with another private practice entity, applying a systematic approach to strategic due diligence can yield huge returns to practices considering mergers.
How to Determine the Financial Metrics of Medical Practices
Financial metrics not only help to track the performance of your practice but also can be used to increase accountability of your in-house staff as well as outsourced billing companies.