The necessary first step for developing a new cardiac physician practice culminates in the completion of a detailed Practice Strategic Plan. This Plan generally includes market planning, through a Market Assessment and Marketing Plan; new service development planning; and thorough analyses of strategic direction and other options for the practice.
CFA's strategic planning process for startup practices is designed to identify the key challenges facing the client and the opportunities to create a practice that can be successful over the long term. Practice strategic plans typically include the following components:
- Evaluation of the local and regional cardiovascular services market demographics
- Examination of pertinent national and regional trends in providing cardiovascular services
- Evaluation of regional medical community support
- Quantification of the local/regional market for cardiothoracic and vascular surgeries, invasive/interventional cardiology procedures, cardiac imaging procedures, and general cardiac patient volumes; analysis of current market capture levels of existing providers
- Examination of the opportunities/recommended approaches for market capture
- Detailed specification of key success factors and recommendations
- Comprehensive strategies, goals and tactics for practice development
CFA's strategic plans for new practices provide the type and quality of information and recommendations that can assist in ensuring long term practice success.