For CV physicians, non-clinical issues are more important than ever to group practice success.
Strategically positioning your practice to best serve your patients and become invaluable to your hospital is critical. A commitment to formal strategic and business planning can pay off in ongoing practice growth and business success.
Integrate a regular strategic positioning/planning process to mitigate competitive threats, take advantage of opportunities, ensure readiness for successful growth in an evolving marketplace
Incorporates market and environmental assessment; trends in managed care and population health management; competitor assessment; regulatory burden trends; technological trends/projections; vision refinement/development; mission statement
Strategic Planning Retreats; Strategic Practice Assessments; Strategic Development Plans to address practice expansion, managed care/payer interaction, physician recruitment, outreach development
Market Assessment/Marketing Plans
Market demographics and environmental assessment; local, regional, national trends; technological trends/projections; detailed demand forecasting; competitor impact; referral pattern analysis
Marketing strategy and tactic development
Strategic and business planning; financial feasibility and market assessments; financial forecasts; organizational, operational and legal structures; corporation formation
Align strategic, operational and financial incentives between hospital and physicians to neutralize physician competition with hospitals for outpatient business; gain competitive advantage; retain and expand market share; reduce competitive risk; prevent predatory recruitment of physicians; improve performance and profitability
CFA can provide a metrics-driven operations improvement platform within a physician-led culture; negotiate terms, conditions, and expectations of the participants; set benchmarks and timeframes; determine key deliverables or “targets of opportunity;” engage/catalyze physician expertise/experience; provide measurability, objectivity, and timeliness
Customized integration strategies include pay-for-performance, gainsharing, joint ventures, co-management agreements, professional/managerial service agreements
Clinical efficacy and “fit” within the practice’s vision/goals; reimbursement issues – current/projected
Initial purchase and startup costs; ongoing operational and maintenance/upkeep costs; technician needs and availability