Medical Practice Business Plan Workbook: 3rd Edition (Paperback) book cover

Medical Practice Business Plan Workbook

3rd Edition

By Peter D. Lucash

Productivity Press

125 pages | 1 B/W Illus.

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Paperback: 9781439855317
pub: 2011-10-17
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Description

How does a medical practice thrive in a business environment where the margin of management error has all but disappeared? Profit margins are being squeezed by declining reimbursement rates, capitation plans, gamesmanship on the part of the payors, and increasing operating costs. Addressing the specific needs of today’s medical practice, Medical Practice Business Plan Workbook, Third Edition supplies a detailed and ordered work plan to tackle some of the most pressing issues facing the field.

Peter D. Lucash delves into decades of experience helping physician groups develop business plans to guide you along the process of building the profitable practice you want and deserve. This updated edition of a bestseller begins with a review of the fundamentals, including the questions your plan should answer, how to get started, how to organize and develop your plan, and the staff support and resources you will need. Complete with a wealth of helpful sample plans and worksheets, this workbook:

  • Reflects recent changes in the healthcare industry, including federal healthcare reform
  • Offers a one-of-a-kind design and approach tailored to the medical practice
  • Covers conceptualization, organization, and implementation of your business plan

This updated edition reflects current and forecasted challenges for practices, including the Affordable Care Act, data security, and quality and outcome measures. It supplies detailed coverage of the different types of organizations, governance and management, personnel needs, key business relationships and contacts, demographics and economic factors, patients as customers, competitor analysis, marketing, information technology, disaster and business continuity planning, and financial strategies. The final section outlines a process for implementing your plan. Sticking to this process will help ensure your plan covers what is needed to succeed in today’s complex medical environment.

Visit www.Lucash.com for videos and other resources to help you develop and implement your practice business plan.

Table of Contents

INTRODUCTION

Why This Book?

What’s a Business Plan and What Do You Do with It?

Questions a Plan Should Answer

Getting Started on Your Plan

Organizing to Develop a Plan

Board and Leadership Support

Planning Committee

Staff Support and Resources

Timeline

Data and Information Needs

How to Use This Workbook

Getting Started

Sit Down and Read through this Book

Start Writing

Prepare Your Rough Draft

The Final Draft and Action Plan

THE WORKBOOK

Background of the Practice

Writing Guide

Forms of Business Organization

Governance and Management

Writing Guide

Management

Advisors to the Practice

Personnel

Writing Guide

Personnel

Clinical and Technical Staff

Support Staff

Key Business Relationships

Writing Guide

Other Providers

Key Contacts

Writing Guide

Your Market: Demographic and Economic Factors

Writing Guide

Economic Factors Information

Demographic Analysis

Services

Writing Guide

Patients as Customers

Writing Guide

A. Major Employers

B. List top MCOs

C. Analysis of Patient Services

Facilities and Location

Writing Guide

Facility/Location

Business Process/Patient Flow

Writing Guide

Competitor Analysis

Writing Guide

Competitor Analysis

Marketing

Writing Guide

Marketing Strategy

Regulatory Compliance

Writing Guide

Regulatory Compliance

Quality of Care

Writing Guide

Information Technology (IT)

Writing Guide

Disaster and Business Continuity Plan

Writing Guide

The Goal: What Are You Protecting?

Focus on People First

Finance

Writing Guide

Historical Analysis

Financial Strategies

Writing Guide

Develop a Projected Financial Plan

Personnel: Position Control Register

Schedule of Insurance

Schedule of Leases

Capital Spending Plan

Projected Financial Plan

THE BUSINESS AND ACTION PLAN

Pulling It All Together: The Action Plan

Writing Guide

Assumptions

Actions

Milestone and Time Frames

Index

About the Author

Peter Lucash is the founder and CEO of Digital CPE, LLC, a consulting, information, and training firm working to improve the business management of organizations. He is also the CEO of BioPharma Connex, LLC, a company that facilitates pharmaceutical firms to introduce innovative products in Latin America. Peter has worked in management and consulting roles in a variety of growth-oriented situations. He was the chief administrative officer of a specialty medical practice, an assistant hospital administrator and vice president of planning and marketing for large urban teaching hospitals, a manager in a Big 4 CPA firm consulting practice, and directed a development venture to explore entrepreneurial venture opportunities for a consortium of nonprofit organizations.

Peter is a faculty member and lecturer for Northeastern University and other colleges, where he teaches courses in business, strategy, entrepreneurship, small-business management, organizational behavior, nonprofit management, and financial management. He holds an MBA and MPH from Columbia University and earned his BA from New York University.

In addition to this book, Peter is the author of Medical Practice Change Management, originally published by McGraw-Hill. Peter has been an active speaker and facilitator for conferences, workshops, and seminars for national, regional, and local organizations including the Medical Group Management Association, Healthcare Financial Management Association, Charleston Metro Chamber of Commerce, and Charleston Digital Corridor among others. He was an active seminar leader for McGraw-Hill Healthcare Education Group and the Center for Professional Education, Inc. Peter is a member of his local chamber of commerce and other business and economic development organizations.

Subject Categories

BISAC Subject Codes/Headings:
BUS041000
BUSINESS & ECONOMICS / Management
BUS042000
BUSINESS & ECONOMICS / Management Science
BUS053000
BUSINESS & ECONOMICS / Quality Control