Practitioners spend most of their time working in their [practice] business. However, it is vital that sufficient time is given to working on the business to ensure it functions efficiently and provides the rewards and lifestyle you strive for. HPC’s Business Management service provides this capability with minimal devotion of your time, allowing you to concentrate on healthcare for your patients.
Business Management is the process by which HPC:
- removes the burden of constant business oversight by Principal/s, and
- simplifies the process that provides you with a powerful and practical form of assisted business management.
The process: a comprehensive management / planning model is devised in consultation with yourself and relevant staff. The model is then:
- consistently applied (and refined as necessary) with minimal, ongoing involvement by yourself,
- monitored and analysed to achieve your core objectives and ensure optimal performance of the practice, and
- reported on in simple, easy-to-read format to enable you to make important management decisions based on clearly stated information.
Set Up Phase: A program comprising Strategic, Business, Marketing, Contingency, Supplier Plans, Budget and Key Performance Indicators is developed. Policy and Procedure Manual, Legal Compliance Program, Insurance Review and a target Patient Profile is established for tracking/analysis.
Oversight Phase: As the aforementioned program is introduced, Financial Reports, Patient Numbers, all Plans, Budgets and KPI’s are reviewed and analysed on a monthly basis to ensure alignment to Business and Strategic Plan goals.
Reporting and Actioning: In collaboration with the practice’s finance/operations personnel, an easy-to-read, financial dashboard is produced on a monthly basis setting out the critical financial and operational features of the practice’s performance. An all-encompassing report is submitted to Principals quarterly (or as needed if interim reports are justified) or at periodical intervals as indicated above.
Principal Consultation: At agreed, periodic intervals, HPC convenes a meeting on the practice premises with the Principal/s and key staff to discuss progress (or otherwise) to date and steps required to achieve the annual Business Plan goals and, in turn, your longer term Strategic Plan vision for the practice.