Why
Strategic Planning is a Must for Practices
By Nick Hernandez
S trategic planning is not the same
as operational planning . The former is focused on broad and long lasting issues that ensure the medical practice ’ s long-term effectiveness and survival . The latter focuses on achieving objectives and carrying out short-term activities . Strategic planning functions as the " design " just as a blueprint functions as the " how " to build something . Strategic plans are expressions of a physician owner ’ s dreams and visions of successful results . These plans must not be rigid , because as they meet detours and obstacles they must be adjusted as the plan is implemented . The strategic plan , to be of long-term value , must be treated as an ongoing business process . It must evolve and change to reflect changing market and industry conditions . While you cannot predict the future , the absence of strategic planning usually leads to operating nightmares . Consequently , conducting proper strategic planning can reduce those “ days you ’ d rather forget .” Medical practices that plan strategies are unquestionably more successful than those that do not .
So , a strategic plan is essentially a business plan , right ? NO . A strategic plan itself consists mostly of words whereas a business plan is comprised of many figures and numbers . Strategic planning is a process that brings to life the mission and vision of the medical practice . As the practice grows and the healthcare environment becomes more complex , the need for strategic planning becomes greater . A strategic plan , well crafted and of value , considers the internal and external environment around the business and is ultimately communicated to all staff members . Everyone in the practice should understand the direction and mission of the organization . After all , the purpose of strategic planning is to set overall aims for your practice and to craft a plan to hit them . Furthermore , consensus can also enhance morale and motivation .
This agreement , understanding , and alignment enables the achievement of improved practice performance in all aspects ( clinical , business , financial , etc .).
Medical practices which consistently apply a disciplined approach to strategic planning are better prepared to evolve as the local market changes and as the healthcare industry undergoes reform . The benefit of the discipline that develops from the process of strategic planning , leads to improved communication . It facilitates effective decision-making , better selection of tactical options , and leads to a higher probability of achieving the physician owners ' goals and objectives . An important distinction in the process is to recognize the difference between strategic planning ( the work being done ) and strategic thinking ( the creative , intuitive input ).
16 Doctor ’ s Life Tampa Bay Issue 1 , 2017