smoky hill family practice residency april 5, 2010 darrel mccool, facmpe business planning
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Smoky Hill Family Practice Residency April 5, 2010
Darrel McCool, FACMPE
Business Planning
What is Business Planning?
Planning is a Learning Process.Business planning is the framework
by which an organization’s ideas, goals, and needs are translated into actions plans.
Planning is obtaining consensus on the direction and priorities of the organization.
Why Plan?
Prepare for the inevitable,Preempt the undesirable,Control the controllable.
Strategic Planning
“If you don’t know where you are going any road will get
you there.”
-The Cheshire Cat
The Value of Strategic PlanningSuccessful organizations plan-The most
successful write down their plans.The development of a written strategic plan
establishes a single document of expectations for:The Manager-A written strategic plan helps
establish a job plan for success and job security.
The Stakeholder-A written strategic plan gives reassurance that their goals and program desires are being addressed by management.
The importance of a plan!
Save time in the long runClarify expectationsReduce conflict Improve efficiencyEnhance morale
If, an only if, the Plan is communicated effectively and applied consistently
Six components:
Organizational goals and objectivesIndividual performance goals and objectives
Employee performance measurements
Performance reviewsOngoing feedback and coachingRecognition and rewards
Strategic Plan(Vision, Mission,
Value, Organizational goals & Objectives)
Business Plan (Strategies &
Tactics)
Human Resource Strategy
Financial Strategy
Risk Management
Strategy
Action Plan
A written document that summarizes the strategies for the future direction and articulates the plan for achieving the objectives.
Action PlanGoals & Objectives (Develop Consensus)
SMART Goals (Specific, Measurable, Achievable, Realistic, Time-Bound)
Strategies/Tactics (Specific)This is where the rubber meets the
road!TimelineBudgetResponsible PersonFollow-up
Responsibilities
Physician owners:Develop policy through consensusFocus on the big pictureProvide resourcesCommunicate effectivelySpeak with one voiceSupport and hold management accountable
for meeting goals
Responsibilities
Management:Establish, implement, monitor and
adjust business plan with physician owners’ guidance.
Keep physician owners advised of progress.
Words of Wisdom:
“Superior performance….is guided by wise leadership, sound management, good clinical practices and a great team of employees at all levels”
Performance and Practices of Successful Medical Groups: 2001 Report based on 2002 data.
Words of Wisdom
“Strategy is the bridge between the past of organizational capabilities and a future of new capabilities and business opportunities.”
-Paraphrase Henry Mintzburg
Questions
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