SWOT analysis for a physician medical practice?

Written by Reed Tinsley, CPA | December 12, 2012

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?

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.

Have questions? I’m here to help.

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