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Health Industry
High performing practices: How healthy is your practice?
By Danny Haydon, Principal/Health Division
15 April 2024
High Performing Practices think and act strategically, are well governed and managed, engage high-quality and talented people, and operate efficiently while delivering high quality services while ensuring the business's financial viability.
Most practices work in isolation, having little insight into how other practices operate. Brentnalls Health has the privilege and opportunity, through our work, to see how many different practices operate. Through this experience, we have gained an understanding of the key factors that distinguish a high performing practice.
These are the key attributes that we see in successful practices that give them a competitive advantage:
Think and Act Strategically
- Planning for success
- Constantly scanning and aware of the changing healthcare environment
- Being Proactive, with a forward-thinking approach
Well Governed and Managed
- The ability to make effective decisions and implement them
- Disciplined management structures in place
Financially Profitable
- Sustainable financial growth over time
- Strong financial fundamentals and financial disciplines
Talented People
- Focused on evidence-based practice
- The ability to convert quality care into profitability
- Highly functioning teams
Operate Efficiently
- Streamlined and efficient systems
- Shared approach across the entire team
Questions you might ask yourself:
- Are you running a high performing practice?
- If not, what do you need to do to convert your practice into a high performing practice?
- What aspects of your practice could you improve, to improve the performance of the practice?
Brentnalls Health offers a service called "Practice Snapshot Assessment" that enables practices to identify areas for opportunity and growth. If you would like to learn more about how we can help you become a high performing practice, contact us here.
Discuss Further?
If you would like to discuss, please get in touch.
Disclaimer
The information provided in this article does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.
