Woodbury, NY (PRWEB) December 30, 2013
Gettry Marcus CPA, P.C., a leading health care and business valuation firm, discusses strategic planning methods for a medical practice.
“In today’s highly competitive and complex healthcare environment, it is imperative that medical practices of all sizes define who they are, plus what and where they want to be. In order to do this, it is critical that they formulate a strategic plan so that they have a road map to help them accomplish their goals,” says Stuart Kertzner, Partner-in-Charge of the Gettry Marcus, CPA, P.C. Health Care Group.
Developing a long term (multiyear) strategic plan for a practice provides a road map to implement the necessary changes to grow the practice. Simply put, a well thought out strategic plan will help a practice owner identify where he or she wants the practice wants to be in the future and help him or her figure out how to get there. While the challenges are generally the same for each practice, the long term goals are typically different for each.
As a practice owner, are you looking to:
- Open additional offices?
- Acquire established practices?
- Merge your practice with others?
- Expand physician recruitment efforts?
- Increase marketing?
- Offer new patient services?
- Sell your practice down the road?
To achieve any of the above, certain initiatives must be undertaken by the practice. Each initiative requires time, money, and effort by the practice owner, as well as the management team. A time line must be established as to when certain initiatives will be completed and who will be held accountable. In addition, costs have to be determined and financing arranged.
While the task at hand may seem daunting, if small steps are taken and change is implemented in a structured, well thought out manner, the entire strategic planning process will not be overwhelming. It may, in fact, give the practice owner a feeling of greater control, especially in these uncertain times.
For the full article discussing strategic planning methods for medical practices, click here.
Gettry Marcus CPA, P.C. is a Top 200 firm nationally with offices in Woodbury, Long Island and New York City. We provide accounting, tax, and consulting services to commercial businesses, high net worth individuals and various industries which include Real Estate and Health Care. We have one of the premier and most credentialed Business Valuation, Litigation and Forensic Accounting Groups in the New York Area. Our experience in diverse industries and a highly talented and experienced professional staff gives us the ability to share valuable insights into our clients’ businesses, to better understand their goals and problems and to help them attain the vision they have for their company.
Gettry Marcus is "Always Looking Deeper" to build value for our clients.
Media inquiries: Contact Fayellen Dietchweiler at 516-364-3390 ext. 225 or via email at fdietchweiler(at)gettrymarcus(dot)com.