Medical Practice Management
May 11

Steps in the Strategic Planning Process

As listed below, there are logical, distinct steps in the strategic planning process. As you know, I am a vocal advocate that all physician practices, no matter how small, should go through some type of strategic planning process. When go through the planning process, you should complete one step before moving to the next, even though they may occasionally need to go back and make changes to earlier steps. The seven steps listed below represent a systematic, rational, objective approach for developing a Strategic Plan, rather than relying upon politics, emotions, opinions, and subjectivity to determine your organization's future. Now quit wasting time and get to it!

 

1.   Develop a Vision and Mission Statement

2.   Perform External Audit

3.   Perform Internal Audit

4.   Establish Objectives

5.   Establish Strategies

6.   Implement Strategies

7.   Evaluate Strategies

8. Conclusion

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →