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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.
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.
There's no trust anywhere when it comes to healthcare-a new survey shows that hospital systems & doctors don't trust health plans & plans don't trust them.
Successful leadership coaching of physicians may require that they understand the theory and research underpinning the field of coaching first.
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.
Social media offers doctors opportunities to educate patients, provide better customer service, reduce visits, improve scheduling, and increase loyalty.
Performance metrics help you know how well the practice is doing as well as determine what needs to change and what should stay the same.
We should view strategic planning as a process that involves continuous adjustment and improvement. It is a solution-by-evolution, not a solution-by-engineering.
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.