Business Strategy for Physicians and Group Practices™
Maria Todd teaches physicians and their practice administrators how to develop and execute strategies to gain competitive advantage and improve their position in the marketplace.
MASTER CLASS SUMMARY
Maintaining a medical practice’s competitive advantage takes more than great timing or a single solution or piece of new technology. Sustainable competitive advantage requires a well-designed and well-executed strategy and tactics and careful planning from start to finish. This course was created to give you the tools and frameworks you need to develop and execute a successful medical practice strategy regardless of what specialty you practice.
You’ll learn how to evaluate your own strategy, as well as how to locate sources of potential competitive advantage from a perspective that encompasses the internal, external, and dynamic fit of your strategy. You’ll also learn how to enhance your ability to assess the strategic impact of what your competitors are doing and how to gain and maintain competitive advantage. You’ll also leave with an improved grasp of the general drivers that create and sustain competitive advantage, and how to identify barriers to change within your practice and with referral sources and HMOs, PPOs, and other third party payers.
By the end of this course, you’ll be able to better assess and redesign your current strategy for growth, reimbursement agreements, and market penetration and improve your skills and plans for effective implementation to give your practice a sustainable competitive advantage.
- Evaluate your practice’s strategic environment in the present and the future
- Learn how to identify and define the competitive advantages of your practice
- Learn to identify the differences between practice marketing and branding effectiveness and strategic positioning
- Map core and supporting activities of your practice and how each interacts to define and give substance to your professional brand
- Analyze customer experiences to understand your ideal customers’ journeys
- Know how to create a portfolio of connected strategies that respond to different customer segments
- Locate practice cultural barriers to strategy implementation and cultural change
- Identify first-mover disruptive strategies you can use to set yourself apart and win big!
- Engage in a strategic planning process that works for the next 3-5 years of anticipated payer and political turmoil.
What Maria will Cover in this Class
Section 1: Situation Analysis
- Setting Your Strategic and Tactical Plan
- Organizational effectiveness and strategy
- Value chain
- Correlating strategic and tactical choices
- Mapping your practice’s activity system
Section 2: Know Your Patients and Prospects
- Who assigns “value”
- Market and Customer Analysis
- Patients’ Willingness-to-pay
- Cost drivers for different customer segments
- Articulating Your Value Proposition
Strategic Positioning and Tactical Methods
Section 3: Keeping Your Strategy Up-to-date
- The Origins of Your Business Strategy
- Defining Practice Goals and Objectives
- Learning What Drives Strategy and Change
- Barriers to Internal Cultural Change (perception, knowledge, motivation, and coordination challenges, trust in leadership)
- Disruptive Technological Changes
- Following the Money – HMOs, PPOs, TPAs, ACOs, IPAs, Government Payers, Self-insured Employers and Unions, Sharing Ministries, Domestic Medical/Dental Travel, and more.
Section 4: Overhauling Existing Strategies and Initiatives
- Feasible new strategic possibilities
- Identifying conditions for success for each option
- Designing empirical tests
- Selecting strategic possibilities and tactics
- Important shifts in mindsets
Who Should Attend:
- Hospital Medical Group and Independent Solo and Group Practice Administrators
- Healthcare Marketing Managers
- Marketing and Business Development Professionals
- Dentists, Surgeons and Other Medical Specialists
- Nurse Practitioners headed into private practice
- Nurse Midwives in Private Practice
- Psychologists and Behavior Health Practitioners
- Physical Therapists in Private Practice
- Concierge and Direct Primary Care
Class Size Limited to 12 Participants
After This Seminar, You’ll Be Able To:
- Feel confident that you know the next steps required to write a new or updated practice strategy and list the tactical steps to execute and measure success and effectiveness.
- Feel more confident about your value proposition, how to negotiated better contracts and decide with whom you’ll do business and award discounts– and know why to award discounts and how much to trade in trade offs
- Know exactly what data and information to request from each strategic partner, why you need it, how to ask for it, and how to use it to leverage brand strength and differentiation
- How to analyze payer contracts and business offers with group health buyers who want to do business with you
- Understand and decide which accreditation and certification programs to pursue to align with your primary target buyers’ and insurers’ perceptions and recognition of value, quality and safety.
- How to effectively market and brand your practice, your tech investments and improve your overarching message.
- Ideas to improve your website to support strategic goals, objectives and communications between patients prospects and brand collaborators
- Event Venue: TBA
- Closest Airport(s):
- Dress Code: Resort Casual
- Level: Intermediate
- Final Exam
Sorry, Master Class workshops are not available by internet or distance learning. One must be present in class to participate in hands-on learning.
General knowledge of operations and infrastructure
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Course Materials Supplied:
PLEASE NOTE: All course materials are on a USB
- Speaker’s slides
- Model participating provider cluster Service Agreements (Contracts)
- Templates, tools, checklists, outlines, and model standards and criteria for hospitals, nursing agencies, free-standing surgery centers, hotels, spas, thermal rehabilitation resorts; model contract templates that spell out the roles and responsibilities between cluster and collaborating participants, and
- Model business rules for contracts with buyers, insurers, and self-insured employers
What to Bring to Class:
- Laptop Computer – all class materials are supplied on a USB
- Sweater or light jacket
- Business cards
- Power supply for laptop and cell phone (power strips provided)
- Notebook or Writing Tablet
Meals & Refreshments:
- Breakfast (On Your Own)
- Coffee & Water
- Lunch (On Your Own)
- PM Snack & Refreshment
Yes, but we much prefer that you register in advance so we can be prepared for you with all course materials and a reserved seat for the class. Training room capacity is limited to fire code regulations for maximum occupancy. If you travel to St George without a confirmed reserved seat, you risk being turned away.
Course hours are generally 9am – 4:30pm. Detailed information is supplied with course registration confirmation.
Refunds are available if you cancel your registration 20 days in advance, less a 15% administrative fee. Substitutes are always permitted.
The makeup of class registrants always varies. We don’t offer CEUs from any issuing organization, but we will provide whatever materials you may need to apply for credit from your professional society or association. We’ve yet to encounter a certifying body that has refused to grant credit for Maria Todd’s programs.
Check Maria's availability to present this 2-day Master Class workshop at your upcoming cluster development training event or discovery session. Invite all providers, hoteliers, facilities, and other interested stakeholders for one flat fee, plus speaker travel expense.
Get a Quote / Check Availability
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…to present this 2-day Master Class Workshop at your destination