Allison Fry, MBA, and Neil Baum, MD
The days of a practice putting up a shingle or sign and waiting for patients to come for treatment are over. The same applies to hospitals, which can’t just have beds, an emergency department, an operating room, and an intensive care unit and hope to remain profitable in this tumultuous era of healthcare delivery. Now it is imperative to have a strategic plan to move forward. Practices and hospitals need a plan in order to prosper, rather than settle for mere survival. This article defines strategic planning, discusses the creation of a strategic plan, and lays out how a plan might be implemented in a medical practice or hospital.