What is a SWOT analysis? It is a situation analysis in which internal strengths and weaknesses of an organization, and external opportunities and threats faced by it are closely examined to chart a strategy. SWOT stands for strengths, weaknesses, opportunities, and threats. Moving forward, it’s extremely important for you to conduct a SWOT analysis of your medical practice, no matter how big or small it is. Only then can you make strategic decisons for your physician practice that will move it forward successfully in to the future. Without strategic decisionmaking NOW, your medical practice is just a rudderless ship.
So I ask the question: When was the last time you conducted a SWOT analysis of your medical practice?