3rd Edition

Medical Practice Business Plan Workbook

By Peter D. Lucash Copyright 2012
    128 Pages 1 B/W Illustrations
    by Productivity Press

    126 Pages
    by Productivity Press

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    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.

    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
         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


    Background of the Practice
    Writing Guide

    Forms of Business Organization

    Governance and Management
    Writing Guide
    Advisors to the Practice

    Writing Guide
    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

    Writing Guide

    Patients as Customers
    Writing Guide
    A. Major Employers
    B. List top MCOs
    C. Analysis of Patient Services

    Facilities and Location
    Writing Guide

    Business Process/Patient Flow
    Writing Guide

    Competitor Analysis
    Writing Guide
    Competitor Analysis

    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

    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


    Pulling It All Together: The Action Plan
    Writing Guide
    Milestone and Time Frames



    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.