business planning essentials. core elements of business planning 1. environmental assessment 2....
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Business Planning Essentials
Core Elements of Business Planning1. Environmental Assessment 2. Strategies/Tactics for Growth3. Volume Projections4. Staffing and Other Resource
Needs5. Financial Analysis
1. Environmental Assessment
Internal Environment
National Trends
Local & Regional Environm
ent
Internal Environment
VolumePatient OriginReferring ProvidersPayor MixFinancial PerformanceStaffingDownstream
Local and Regional Environment
Market Size and GrowthPrimary Competitors
◦Volume ◦Physician/Educator Supply◦Payor Mix◦Service Offerings
Market SharePayor/Reimbursement Trends
• Growth of healthcare costs• Healthcare reform• Increasing demand for services• Reduced escalation in payment levels• Increased focus on clinical outcomes • Inpatient Outpatient• Provider consolidation & service regionalization
National Trends
SWOT Analysis
Strengths- Internal- Resources and capabilities that can be used in developing a competitive advantage
Weaknesses- Internal- Characteristics about your clinic that place it at a disadvantage relative to competitors
Opportunities- External- Elements in the environment that create potential for growth
Threats- External- Elements in the environment that could create problems
2. Strategies/Tactics for Growth
Strategies and Tactics for Growth
Techn-ology
Patient Origin
National Trends
Compe-titors
Regula-tions
Payor Mix
Financial Perfor-mance
Referring Providers
Local & Regional Trends
3. Volume Projections
Should build on:◦Environmental Analysis What is the demand? What is the projected incidence in the community?
Impact of regulations Impact of competitors
◦Clinician capacity
Supply vs. Demand Example
Population in Service Area 2,242,988
Prevalence Rate of Diabetes 8.3%
Portion of Patients Requiring an Endocrinologist 10%
Population Requiring an Endocrinologist
18,617
Number of Endocrinologists in Service Area 5
Number of Patients per Endocrinologist 2,500
Unmet Need 6,117
Incremental Endocrinologists Required 2.45
4. Staffing & Other Resource NeedsResulting from:
◦ Increased Volume◦Changes in Practice Models◦New Technology
May Include:◦Physicians◦Nurse Practitioners◦Educators◦Support staff◦Equipment◦Space
5. Financial AnalysisRevenue generated from incremental:◦Clinic visits◦Educations visits
Costs associated with incremental:◦Physicians◦Support staff◦Equipment
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