3 Secret Every Medical Practice Must Have or Else

Planning is crucial to answering this all-important question. Whatever you choose to do must be communicated by your plan, which is really three interrelated plans in one. It consists of:

·        The business plan

·        The practice plan

·        The completion plan

The business plan: Determines who you are, the practice plan determines what you do (the specific focus of your practice), and the completion plan determines how you do it (the fulfillment process). The three critical plans are interconnected. the connection between them is established by asking the following questions:

1.   Who are we?

2.   What do we do?

3.   How do we do it?

Questions shape the vision  and destiny of your business of which your practice is only one essential component. Your business and you practice are not the same thing. Your practice is early one part of your business. First ask: what do we do and how do we do it.. Strategically? And then:  what do we do and how do we do it…tactically?

THE BUSINESS PLAN

          Business plan will determine what you choose to do in your practice and the way you choose to do it. Without a business plan, your practice can do little more than survive. To read more about business plan visit www.uniqueCEO.com.

          Without a business plan you’re treading water in a deep pool with no shore in sight. I’m not talking about the traditional business plan that is taught in business school. This business plan reads like a story, the most important story you will ever tell. your Business plan must clearly describe:

·        The business you are creating

·        The purpose it will serve

·        The vision it will pursue

·        The process through which you will turn that vision into a reality.

·        The way money will be used to realize your vision.

Build your business plan with business language, not practice language. Make sure the plan focuses on matters of interest to your lenders and shareholder rather than just your technicians. It should detail both the market and the strategy through which you intend to become a leader in that market, not as a doctor but as a business enterprise. It should rely on demographics and psycho-graphics to tell you who busy and why. It should include projections fro return or Investment and Return on Equity.