Medical Practice Business Plan Workbook

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 Pr

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.

INTRODUCTION. Why this book? What's a business plan and what do you do with it? Question a plan should answer. Getting started on your plan. BACKGROUND OF THE PRACTICE. Forms of business organization. Management. Personnel. Key business relationships. Key contacts. Demographics and economic development. Services. Patients (Customers). Facility/Location. Business process/patient flow. Competitor analysis. Marketing - including use of internet and social media. Regulatory Compliance including developing a compliance plan. Quality. Information systems including electronic health records (E.H.R.). Disaster and business continuity plan. Financial. tHE BUSINESS AND ACTION PLAN. The business plan and financial projection/plan.