Strategic Management

MANAGEMENT SERVICES PROVIDED

The Importance of Strategic Management

Most professional business suffers from the delusion that if they simply work harder in their practice, success and good results will occur.  Unfortunately, this technical approach works well in the business but usually is ineffective in working on the business. Critical decisions are often left to chance which leaves the business vulnerable to failure. The main reasons why a business fails are the following:

  1. Inadequate strategic planning
  2. Disregarding or not interpreting properly financial records
  3. Not controlling costs
  4. Fraud through poor internal control
  5. Ineffective marketing
  6. Insufficient working capital
  7. Insufficient insurance
  8. Lack of training and development of employees
  9. Not seeking professional advice when necessary

Further, management is treated as if it could be ordered a la carte instead of the continuous and connected practice that it really is. Successful practitioners have found that by devoting more time to strategic management and planning they can develop action plans that more effectively move them towards their desired goals. A management consultant can serve as a partner and coach to help and assist in the development of sound management and leadership.

Today, the professional practice is more complex than ever.  Increasing pressure from government, changing attitudes of consumers, and a system trying to control and use professionals for their own purposes, are but a few of the pressures you face. You need an advocate who is trustworthy and understands. You need someone to guide you and provide needed direction.

A good management consultant literally pays for itself by significantly boosting practice revenue.  A management consultant can also serve as a coach throughout the years, making your work more productive and less stressful.  An open trustful relationship with a consultant who is an extension of your practice assures you of someone already familiar with your practice when needed. No practice can afford to be without this type of management partner.

We provide dynamic business and management consulting services to a variety of healthcare and related business.  The most common services are the following:

 

I.  CPR™  Complete Practice Review and Plan Development

The development of a CPR™   is often the initial service we provide. It is directed towards providing a comprehensive framework from which strategies and other recommendations can be made for overall improvement of the Practice.   The CPR™ is comprised of interviews, analysis of key operational data, and comparison to industry norms. A Strategic Business Plan is developed with a team approach. Guidance in implementation is available.  The CPR includes analysis and recommendations in the following areas:

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Current healthcare environment

Vision and philosophy

Operations and Systems

Personnel

Management and organization

Facilities and equipment

Finance and Marketing

 

II. Practice Profiler™

This is monthly or quarterly key indicator and trend report.  It is like a Business Report Card or an operational dashboard because of its simplicity and thoroughness. The report allows providers and management to easily understand financial, performance, and other key benchmarks to make timely and appropriate decisions. The monthly or quarterly report can be accompanied by a consulting visit to help identify negative trends, operational deficiencies, and financial issues before they become major concerns. Appropriate recommendations are also made.

 

III. Continuous Management Assistance 

Eckel Healthcare serves as a resource to Management and Owners in the implementation of operational and strategic plans.  This assistance also includes Feasibility Studies and Facility and Project Management.

 

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