SHOPS is funded by the U.S. Agency for International Development. Abt Associates leads the project in collaboration with Banyan Global Jhpiego Marie Stopes International Monitor Group O’Hanlon Health Consulting Business for Health Business Skills for Private Medical Practices Module 4: Define Your Health Practice Business

A Quick Start Welcome! While you are waiting for the class to begin, please take the Pre-Test and make sure your name is on it before you hand it to the facilitator. While you are waiting for the class to begin, please take the Pre-Test and make sure your name is on it before you hand it to the facilitator. Thank you!. 2Business Skills for Private Medical Practices

Agenda Welcome Defining Your Business Creating a Strategic Vision Thinking About a Business Identity Setting Strategic Goals Summary and Evaluation Close 3Business Skills for Private Medical Practices

Learning Objectives During this session, you will: 1.identify the key focus of your business; 2.define what a strategic vision statement is; 3.describe the characteristics of a good strategic vision statement; 4.create a strategic vision statement for your business; 4Business Skills for Private Medical Practices

Learning Objectives 5.discuss the components of an effective business identity; 6.explain how to set long-term and short- term goals to implement your strategic vision; 7.set long-term and short-term goals for your business 5Business Skills for Private Medical Practices

Learning Objectives 8.report one of your short-term goals to the larger group; 9.discuss the next step; and 10.state your key take-away from this session. 6Business Skills for Private Medical Practices

Introduction You will have 1 minute to introduce yourself: 1.Your name 2.Your position 3.Your business 4. How long you have been in business 7Business Skills for Private Medical Practices

Defining Your Business Business Skills for Private Medical Practices 8

What Business Are You In? Please complete this statement: I am in the business of __________________ I am in the business of __________________ (providing health services)? (healing people)? (providing quality care for families)? Business Skills for Private Medical Practices9

My Business... I am in the business of __________________ I am in the business of __________________ Business Skills for Private Medical Practices10

Creating a Strategic Vision Business Skills for Private Medical Practices 11

Strategic Vision Statements A strategic vision statement says: “This is who we are, this is what we do, and this is where we’re going to be in the future.” this is where we’re going to be in the future.” Business Skills for Private Medical Practices12

The Characteristics of a Good Strategic Vision Statement ✔ Brief ✔ Clear ✔ Abstract and Challenging ✔ States Your Purpose ✔ Future Focused ✔ Sets a Desirable Goal ✔ Matches Your Success Measures Business Skills for Private Medical Practices13

Sample Vision Statements Assess each vision statement against the characteristics of a good vision statement:  MedCentral  Quorum Health Group, Inc.  Medco  Tenet Healthcare Business Skills for Private Medical Practices14

Creating or Refining a Strategic Vision Statement Experiment with this formula: Five years from now, [your PMTI] will [what it will accomplish] by [how it will accomplish it] Business Skills for Private Medical Practices15

Checklist of Effective Strategic Vision Statement Characteristics Make sure that your strategic vision statement meets these characteristics. Business Skills for Private Medical Practices16

Thinking About a Business Identity Business Skills for Private Medical Practices 17

What is a Business Identity? 1.In today’s competitive market, your business needs to stand apart from others to be noticed, to make an impression, and to ultimately be preferred. Business Skills for Private Medical Practices18

What is a Business Identity? 1.In today’s competitive market, your business needs to stand apart from others to be noticed, to make an impression, and to ultimately be preferred. Business Skills for Private Medical Practices19

What is a Business Identity? 2.If your business is going to be successful, your intended clients need to feel that you understand and can meet their needs. Business Skills for Private Medical Practices20

What is a Business Identity? 2.If your business is going to be successful, your intended clients need to feel that you understand and can meet their needs. Business Skills for Private Medical Practices21

What is a Business Identity? 3.The credibility of your business requires that everything your business says and does is consistent. Business Skills for Private Medical Practices22

What is a Business Identity? 3.The credibility of your business requires that everything your business says and does is consistent. Business Skills for Private Medical Practices23

What is a Business Identity? 4.If your business clearly executes both its promised and delivered experiences, it will be held in high esteem. Business Skills for Private Medical Practices24

What is a Business Identity? 4.If your business clearly executes both its promised and delivered experiences, it will be held in high esteem. Business Skills for Private Medical Practices25

What is a Business Identity? 5.A business identity tells the world how your business views itself and how it wants the rest of the world to see it. Business Skills for Private Medical Practices26

What is a Business Identity? 5.A business identity tells the world how your business views itself and how it wants the rest of the world to see it. Business Skills for Private Medical Practices27

What is a Business Identity? 6.A business identity has three parts: design, communication, and behavior. Business Skills for Private Medical Practices28

What is a Business Identity? 6.A business identity has three parts: design, communication, and behavior. Business Skills for Private Medical Practices29

What is a Business Identity? 7.A logo is an excellent way to provide a visual representation of the value you offer to your clients. Business Skills for Private Medical Practices30

What is a Business Identity? 7.A logo is an excellent way to provide a visual representation of the value you offer to your clients. Business Skills for Private Medical Practices31

What is a Business Identity? 8.Once your business has a business identity, it should appear on everything that leaves your business. Business Skills for Private Medical Practices32

What is a Business Identity? 8.Once your business has a business identity, it should appear on everything that leaves your business. Business Skills for Private Medical Practices33

Picture Your Business Business Skills for Private Medical Practices34

Setting Strategic Goals Business Skills for Private Medical Practices 35

Strategic Goals Your vision statement identifies: “where you want to go.” Your strategic goals answer the question: “What needs to be done to get there?” Business Skills for Private Medical Practices36

Strategic Goals Strategic goals need to be specific enough to be measurable. They can be either results-oriented:  increase market share by 10% or process-oriented:  add two new specialized services Business Skills for Private Medical Practices37

Strategic Goals Business Skills for Private Medical Practices38 Specific and Measurable Too Vague to be Measurable  Increase share price by 5%  Reduce employee turnover by 10%  Bring three new products to market  Become the most highly regarded hospital in our area  Improve our customer service  Hire and retain more talented staff

S.M.A.R.T. Goals Business Skills for Private Medical Practices39

S.M.A.R.T. Goals Business Skills for Private Medical Practices40

S.M.A.R.T. Goals Business Skills for Private Medical Practices41

S.M.A.R.T. Goals Business Skills for Private Medical Practices42

S.M.A.R.T. Goals Business Skills for Private Medical Practices43

Long- and Short-Term Goals Strategic goals are both long- and short- term. The focus of long-term goals is typically: ServiceProfit SocialGrowth Business Skills for Private Medical Practices44

Setting Long-Term Goals Business Skills for Private Medical Practices45

Setting Short-Term Goals Business Skills for Private Medical Practices46

Practice Setting Short-Term Goals Long-Term Goal _________________________ Short-Term Goals to Accomplish Long-Term Goal 1. _____________________________________ 2. _____________________________________ 3. _____________________________________ 4. _____________________________________ Business Skills for Private Medical Practices47

Setting Goals to Implement Your Strategic Vision GoalDate of Completion Long-Term Goal _________________________ Short-Term Goals to Accomplish Long-Term Goal 1. _____________________________________ 2. _____________________________________ 3. _____________________________________ 4. _____________________________________ Business Skills for Private Medical Practices48

Reporting a Goal-Setting Small Win What is one short-term goal that you can quickly and easily accomplish? Business Skills for Private Medical Practices49

Summary and Evaluation Business Skills for Private Medical Practices 50

Evaluation Sheet 51Business Skills for Private Medical Practices

The Next Step Ask your employees, patients and the community: 1.What is our business all about? 2.What comes to mind when you think about our business?. 3.What makes our business different from other businesses who provide similar services?. 52Business Skills for Private Medical Practices

Let’s See How Much You’ve Learned Please take the Post-Test. We will compare it to your Pre-Test to see how much you’ve learned in this session. Thank you. Business Skills for Private Medical Practices53

My Key Take-Away 54Business Skills for Private Medical Practices