A medical group is more likely to create the future it desires by planning strategically. The planning process employed by large, resource-rich organizations consumes more time and energy than most smaller groups can afford. However, there is a simplified, low-investment approach that provides most of the same benefits for a modestly sized medical group. By taking these actionable steps, medical groups can develop a strategic plan:
1. Assess the group’s resources and competencies by identifying its greatest strengths and weaknesses. Spend half a day doing this using your best judgment.
2. Consider external factors such as the market (both patients and payers), leading competitors, law and politics, area demographics, new technologies and economic trends. Spend a full day identifying the 10 greatest opportunities and threats posed by these external factors.
3. Spend half a day as a group — involving all owners and employees — describing a vision for the group. Look ahead at least five years. Once an agreed-upon vision is formulated, do not change it without good reason.
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