Physicians are excellent at providing good medical care and excellent at thinking that this automatically translates into productivity, process improvement, patient satisfaction, financial reward, and efficiency. They mold their practices, so that everything works reasonably well, according to their personal vision of how it ought to function.
With the continual addition of more rules, the Affordable Care Act, meaningful use, and higher costs of keeping practices open, many offices are closing. Whereas, the application of some sophisticated guidance from outside consultants could help.
Physicians may consider hiring such consultants, and often their first recommendation is to create a "Business Plan" representative of the physician's, or practice's goals. Such a plan is corporate-speak for an organizational strategy to achieve those goals, and is customarily laid out on paper. However, many doctors, if they have a structured overall plan, often maintain it solely within in their own minds, if maintained at all.
Decisions always have to be made for that plan, and therefore always evolving to keep up with the ever-changing practice environment.
- What Electronic Health Record works for this practice?
- Is the meaningful use incentive funds worth it?
- What computers to purchase?
- How many providers are necessary- physicians, NP, PA, medical assistants, voice activated technology?
- Do we staff to demand- right number of people at the right time of day?
- What malpractice to choose- my bias is the least expensive with the lowest limits of coverage acceptable-?
- Should we perform labs and x-rays in-house or partner?
- Should we do our own billing?
- What about ICD 10?
- Do we accept Medicare and/or Medicaid?
- How do we get credentialed with payers?
- How much do we market or advertise?
- Do we rent, lease or purchase space?
- Should we sell out to the hospital to eliminate 1-8- what happens after the 2- year honeymoon period?