Physician Entrepreneurs: Going Retail
Business strategies to grow beyond traditional practice models
Traditional “one-visit-at-a-time” practice models are going by the wayside. When it comes to staying competitive, physicians must choose their battles. Costs are up, reimbursement is down, and smarter consumers require convenient, high quality care. Smart decisions about how and where to spend your money make all the difference when trying to stand out in today’s crowded healthcare market.
How to stay in the game
Most practices already offer some core service lines. But to truly keep up with consumer demand, you need to ensure that your services make financial sense for your practice, meet your community’s needs, and can still drive new business. With an eye toward consumerism, Physician Entrepreneurs: Going Retail will give you the know-how to help your practice:
- Identify and implement retail service lines and ancillaries
- Gain an edge on the competition
- Boost revenue
- Meet consumer needs
- Increase patient traffic and satisfaction
Big-picture, bottom-line advice
Published by HealthLeaders Media and written by respected physician authorities from The Coker Group, this new book provides sound business strategies to successfully analyze your finances and current portfolio and make an informed decision about the future of your organization. With Physician Entrepreneurs: Going Retail, you’ll get proven tips and tools to identify your strongest areas of growth, assess the competition, determine your community’s needs, and grow your practice beyond the traditional model.
Real-world case studies offer valuable lessons
Physician Entrepreneurs: Going Retail also includes real-world case studies from both primary care and specialty practices across the country. Backed by years of experience working with practices, hospitals, and integrated models nationwide, authors from The Coker ’t worked in the business of healthcare.
Take a look at what you’ll get
Practical and easy to read, this comprehensive guide covers all the critical factors to consider for growing your practice.
Physician Entrepreneurs: Going Retail includes these topics:
- Market analysis: The importance of patient choice, satisfaction, and convenience
in today’s healthcare market
- Developing a retail mind-set: Creating an “experience” (e.g., staff training in
customer service, scheduling access strategies, location and office design, etc.)
- Conducting feasibility studies: Determining the proper service line based on
community need, practice specialty, and market competition
- Show me the numbers: Measuring ROI for retail service line investments
- Organizational challenges and changes: Implementation strategies to ensure
a smooth transition when adding a retail service line
- Getting paid: Potential obstacles and pitfalls when adding ancillary services
- Marketing strategies: Leveraging transparency and marketing to promote new
- Strategic alignment and collaboration: Pros and cons of partnering with other
groups or hospitals
Whether you’re a physician leader, office manager, or practice administrator, Physician Entrepreneurs: Going Retail is a must-have tool for becoming the healthcare provider of choice in your community.
About The Coker Group
Max Reiboldt, CPA, is managing partner and CEO of The Coker Group.
John P. Reiboldt, MBA, is manager of Coker Capital, the division of the firm that focuses on a variety of financial solutions for healthcare organizations.
Mark Reiboldt is a senior analyst at The Coker Group, where he manages the firm’s extensive research operations.
Justin Chamblee, MAcc, CPA, is a senior consultant with Coker Capital.
Kay Stanley is an associate partner who has an established role in publishing practice management publications, guidebooks, and operational manuals.
Keith Solinsky currently serves as chief operating officer and principal with The Coker Group and directs the firm’s day-to-day operations and practice management division.
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