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Operations Planning for a Group Medical Practice

Imagine that a group of physicians who are planning to open a  single-specialty group practice has hired you as a consultant. Your job  is to advise the physicians in creating a business plan that includes  management strategies that will help ensure their success. The  physicians have stipulated that the plan must promote medical excellence  and limit their exposure to risks associated with the practice of  medicine and the operational functions of the practice. In addition,  they are aware that a public health emergency or natural disaster could  have a significant impact on their practice, and therefor they want to  include a strategy for emergency preparedness as part of their plan so  that they will be able to manage their patients and help serve the  community as needed. 

Write a 4–6 page paper in which you:

  1. Compare and contrast the two main levels (i.e., internal  comparison and external comparison) of financial benchmarking. Next,  analyze the strategic purpose of each level of benchmarking and specify  the overall importance of benchmarking as a financial planning tool for a  medical practice.
  2. Recommend a Health Information Technology (HIT) system that  includes an Electronic Health Record (EHR) for the new practice to  implement. Support your recommendation by determining three main  benefits of having this type of system for the practice.  
  3. According to the text (p. 368), some of the main areas of risk  exposure for a group practice include: property (general liability and  safety), technology, and financial practices. Determine one specific  hazard associated with one of these risk categories and propose a  strategy to mitigate the impact this risk could have on the practice.  Support your analysis with a real-life example.
  4. Determine the main functions of the practice that will need to  remain operational before, during, and after a natural disaster or  public health emergency. Next, suggest a strategy that the practice  should take to maintain communication with employees and patients,  secure patient and financial records, and ensure that resources will  available to care for patients during a disaster or emergency. Provide a  rationale for your response. 
  5. Use at least three quality academic resources. Note: Wikipedia does not qualify as an academic resource.

This course requires the use of Strayer Writing Standards. For  assistance and information, please refer to the Strayer Writing  Standards link in the left-hand menu of your course. Check with your  professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

  • Create a business plan for a  physician group practice that promotes medical excellence, limits  exposure to risk, and provides a strategy for remaining operational  during a disaster or public health emergency.