1. Develop Your Empire and Awaken the Force in Your Medical Practice SCMGMA Annual Conference September 3, 2015
Emily M. Blayton, MHA, CMPE
Director, Physician Network Operations
Lexington Medical Center

3. Agenda and Objectives Overview of Business Development Framework
Why is business development relevant?
Identifying the right strategy and tools to grow your practice
Discuss new and future models
Recognize that business development is a core function of your business
Goal is to provide discussion today which gives you a framework to evaluate your current state then to select and deploy the right strategy to grow your business going forward
End Goal is to help you ask the right questions and deploy the right tools to evaluate your current state and pathway to your future state

4. Source: Tennessee ACMPE Study group 2015
ACMPE Quiz Question
1. Which of the following is the MOST effective way to grow a new medical practice?
A. Informing pharmaceutical representatives.
B. Purchasing television and newspaper ads.
C. Word-of-mouth referrals from patients.
D. Notifying residency programs.
Source: Tennessee ACMPE Study group 2015

5. What is Business Development?

6. Business Development Framework
Mission/Core
Operational Excellence
Outreach Strategies

7. Mission/Core Statement Values Vision USP and Brand Promise
Who are you?
What are you not?
Do you know? Really?
Do your physicians know?

8. What’s Your USP and Brand Promise?

9. Mission/Core Governance and Physician Engagement
Formal Evaluation of Strategic Purpose
Key Questions
What business are we in?
What is our fundamental goal?
What is our business scope?
How will we be different?
Source: NEJM 372; 18 April 30, 2015

10. Source: HBR Oct 2013 Porter and Lee
New Relevance
Value Based Care
Dollars and Sense
Multi- Generational Patient Base
It’s the Right thing to do
Connect the Dots
Source: HBR Oct 2013 Porter and Lee

11. Framework – Next Layer

12. Operational Excellence

13. Operational Excellence
“We are what we repeatedly do. Therefore, excellence is not an act but a habit” Aristotle
The Basics
Know Your Numbers
“Hardwire” Excellence
Connect the Dots
Data collection and communication
Source: Hardwiring Excellence by Quint Studor

14. Operational Excellence
New Strategies
Patient Engagement via technology
Integrated Models
Quality Models
Source: HBR Oct 2013 Porter and Lee

15. Framework – Final Layer

16. Outreach Strategies Volume Growth Service Line Development
Space Planning/Geographic Expansion
Physician/Provider Recruitment
Service Line Development
Specialization/Sub-specialization
Ancillary service expansion
Community Relations
- CSR

17. Outreach Strategies Collect Data! Market Research
State Health Planning Functions
Vendor Engagement

18. Outreach Strategies New Strategies
- Employer/Provider direct contracting
Retail Medicine
Concierge Medicine

19. Business Development Framework
Re-evaluate or re-affirm fundamental goals and scope of your practice. Make this an annual exercise with your board.
Core
Hardwire excellence to drive customer value from all aspects of your practice. Focus on the basics first and then new strategies.
Operation
Utilize market research and community relations to drive your practice’s market share and value. Measure progress.
Outreach

20. Key Performance Indicators
Spend the time to vet the right strategies for your practice. Engage your physicians, management team and staff.
Collect data before making decisions. Measure and track operational and outreach strategies once deployed. Connect the dots with data!
Embrace innovative ways to bring value in your practice. Think outside the box! The possibilities are endless.

21. Questions? Emily M. Blayton, MHA, CMPE
Director, Physician Network Operations
Lexington Medical Center