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3 questions for private practices before moving forward with expansion efforts

On Behalf of | Jun 19, 2024 | Physicians & Physicians Groups |

Private physician practices face unique challenges in today’s competitive healthcare market. Those looking to expand should do so wisely, with careful thought and consideration before each step. Some topics to discuss when navigating this process include the following.

#1: How do we recruit and keep quality providers?

It is important to make connections with potential candidates that share your practice’s vision. There are many ways to achieve this goal, such as utilization of physician job boards, LinkedIn, and professional associations to post job openings.

You can better attract quality professionals within this pool of applications by offering competitive salaries, benefits, and incentives to attract top talent.

It is equally, if not more, important to retain quality professionals once a part of your team.  Investing in continuing education, workshops, and certifications can show that you value their growth while promoting work-life balance can reduce the risk of burnout. You can help achieve this by encouraging time off and providing flexible schedules.

Quality providers are the backbone of your practice. Prioritizing their well-being and growth can help to better ensure long-term success.

#2: Are we careful and deliberate in the services provided?

Getting stretched too thin is not good for long term success. This is true in any area of business but has even larger implications within healthcare. Expanding too rapidly or offering too many services can strain your resources and compromise quality. Instead of trying to do it all, it is often wise to focus on a few core services where your group excels.

Overreach can also increase the risk of professional burnout, malpractice claims, and issues with regulatory compliance. professionals become fatigued. Overworked staff may make mistakes, leading to dissatisfaction among patients.

Deliberate expansion involves assessing capabilities, prioritizing quality, and avoiding overextension.

#3: Are we making use of all available tools?

In the digital era, a robust online presence is essential. Consider the following steps:

  • Website optimization: Ensure your website is user-friendly, mobile-responsive, and optimized for search engines.
  • Content creation: Regularly publish informative blog posts, videos, or podcasts related to your specialty.
  • Social media engagement: Wise use of platforms like LinkedIn, Facebook, and Instagram can help to connect with patients and share valuable content.
  • Online reviews: Encourage satisfied patients to leave positive reviews on platforms like Google My Business or Healthgrades.

Remember to comply with privacy and other applicable regulations (such as HIPAA) when handling patient information and navigating social media use.

Smart expansion requires deliberate planning, quality providers, and effective tools. By implementing these strategies, your private practice can thrive in today’s dynamic healthcare environment. Remember to stay informed about legal requirements and compliance to help better ensure a successful journey.

Attorney John Rivas is responsible for this communication.

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