Home Authors Posts by Nick Hernandez, MBA, FACHE
Nick Hernandez, MBA, FACHE
A physician partner can help you grow your practice, but you have to carefully identify what each of you wants from the partnership and craft it carefully.
Here are four areas practices should be attentive of in order to prevent losing current patients.
Done well, strategic planning is an extremely valuable activity that greatly improves practice performance; done poorly, it can be a waste of time.
Medical practices facing a competitive threat need to find ways to get out of the echo chamber and evaluate the situation objectively, using outside perspectives from experienced professionals.
Although your practice may be doing fine now, there may come a point where bringing in a partner could make sense, particularly if he or she has skills and experience that complement yours, and can assist with achieving the growth and health of your practice.
Entrepreneurial physician leaders must be innovators, taking charge and continuously scanning the outside environment for new and fresh ideas.
Undertaking physician partnerships should not be rushed or taken lightly. They require much pre-planning, careful structuring, and a whole lot of continued communication in order for them to be successful.
Strategic planning, when treated as a work in progress rather than as a binder on a shelf can provide a medical practice with a real and lasting competitive advantage.
Patients certainly want quality care, but they also want hospitality. We don't know how healthcare reform will shake out, but we do know that putting patients first is the best strategy.