Strategic planning is essential to the longevity of any business, and especially the private healthcare practice. Often misconstrued as a business process appropriate only for large companies, strategic alliances, and mergers, the strategic plan is actually far more relevant to the small private practice than one might think.
With the myriad changes occurring within healthcare today, having a strategic plan is the only way a private practice can ?stay ahead of the curve? by examining and adapting to factors both internal and external to the business? sphere of control. Aligning internal strengths of a practice with opportunities that exist in the marketplace allows one to enjoy the growth of their practice in a way that only a sound plan can provide. Conversely, avoiding (or addressing) the threats that exist in the market by compensating for one?s weaknesses can allow a business to dodge the same forces that may topple competitors.
The SWOT analysis (strengths, weaknesses, opportunities, and threats) is a very simple, yet powerful tool used by businesses large and small to position one?s business for success by evaluating internal strengths and weaknesses within the context of external market opportunities and threats that are present in the market.
Available for free through the Vantage Clinical Solutions Toolbox, the SWOT analysis tool may provide you with just the framework you need to position your private practice for successful navigation of our turbulent economy ? regardless of what is thrown at you.
Click here to visit the Vantage SWOT Analysis tool at the Vantage Clinical Solutions website.
_________________Tannus Quatre?is a?private practice consultant?and principal with?Vantage Clinical Solutions, Inc., a nationwide?healthcare consulting and management?firm located in Bend, OR and Denver, CO.? Tannus specializes in the areas of?healthcare marketing,?strategy, and?finance, and can be reached through the?Vantage Clinical Solutions website.
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