Insider: Will Latham on Developing a Strategic Plan in a Medical Practice
Download MP3In this episode of the MGMA Insider podcast, Will Latham, President, Latham Consulting Group, discusses how a medical practice can develop long-range strategic plans.
Highlights from the discussion:
Consolidation: One of the biggest areas of change over the last few years has to do with the consolidation of all of healthcare. Hospitals are merging. Health Plans are merging. And there's been a huge influx of medical practices merging into hospital systems or being acquired by private equity."
Strategy Steps: "Begin with a SWOT analysis. What are the main strengths of the group? What are the main weaknesses? What are the opportunities? What are the threats?" You need to have a better read of who you really are before you can go into problem-solving mode.
Retreats: Can be a great way to get out of the office once a year and have the practice's stakeholder go offsite and gauge where the practice is and what needs to be done to raise efficiency and productivity of the practice.
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If you're interested in learning more on strategic planning, join us at MGMA19 Annual Conference, which will be held October 13-16 in New Orleans. Registration opens Tuesday, June 11. Go to MGMA.com/bigeasy for more information.
In this episode of the MGMA Insider podcast, Will Latham, President, Latham Consulting Group, discusses how a medical practice can develop long-range strategic plans.
Highlights from the discussion:
Consolidation: One of the biggest areas of change over the last few years has to do with the consolidation of all of healthcare. Hospitals are merging. Health Plans are merging. And there's been a huge influx of medical practices merging into hospital systems or being acquired by private equity."
Strategy Steps: "Begin with a SWOT analysis. What are the main strengths of the group? What are the main weaknesses? What are the opportunities? What are the threats?" You need to have a better read of who you really are before you can go into problem-solving mode.
Retreats: Can be a great way to get out of the office once a year and have the practice's stakeholder go offsite and gauge where the practice is and what needs to be done to raise efficiency and productivity of the practice.
###
If you're interested in learning more on strategic planning, join us at MGMA19 Annual Conference, which will be held October 13-16 in New Orleans. Registration opens Tuesday, June 11. Go to MGMA.com/bigeasy for more information.
CareCredit
Are your patients concerned about out-of-pocket costs? Is your practice looking for a way to help address those concerns and improve the patient experience? Then, you may want to consider offering the CareCredit credit card as a payment option. For over thirty-five years, CareCredit, a Synchrony solution, has been offering patients a way to pay for health and wellness expenses not covered by insurance. CareCredit can seamlessly integrate with your business and offer a valuable financing option for your patients so they can pay for services or products over time to help fit their budget. To learn more about how CareCredit works for you and your patients, visit www.carecredit.com/mgmapodcast.
NextGen
Looking to transform your healthcare practice with AI? NextGen Healthcare is leading the way by leveraging artificial intelligence. It is helping practices improve efficiency, streamline workflows, and enhance patient outcomes. From predictive analytics to automating routine tasks, NextGen Healthcare's AI solutions are revolutionizing the delivery of care. Don't miss out on the future of healthcare innovation. Visit https://www.nextgen.com/ today to learn how NextGen Healthcare can help you drive efficiency and elevate patient care.
Are your patients concerned about out-of-pocket costs? Is your practice looking for a way to help address those concerns and improve the patient experience? Then, you may want to consider offering the CareCredit credit card as a payment option. For over thirty-five years, CareCredit, a Synchrony solution, has been offering patients a way to pay for health and wellness expenses not covered by insurance. CareCredit can seamlessly integrate with your business and offer a valuable financing option for your patients so they can pay for services or products over time to help fit their budget. To learn more about how CareCredit works for you and your patients, visit www.carecredit.com/mgmapodcast.
NextGen
Looking to transform your healthcare practice with AI? NextGen Healthcare is leading the way by leveraging artificial intelligence. It is helping practices improve efficiency, streamline workflows, and enhance patient outcomes. From predictive analytics to automating routine tasks, NextGen Healthcare's AI solutions are revolutionizing the delivery of care. Don't miss out on the future of healthcare innovation. Visit https://www.nextgen.com/ today to learn how NextGen Healthcare can help you drive efficiency and elevate patient care.
