It’s no secret that we’re in the business of helping companies grow. We help founders every day, and it’s something we’re passionate about sharing. That’s why we’re excited to kick off our Scaling Multi-Site Physician Practices blog series, where we leverage the lessons we’ve learned from our 25+ years of healthcare services investing experience to outline the key strategies that can help improve the value of your practice.
The goal for many physicians starting their own practice is to deliver the highest quality of medicine to patients and drive successful clinical outcomes. Often times, the back-office burden becomes very time consuming to manage as the practice grows. That’s where we can help – our value proposition to physicians practices is to eliminate the back office burden by forming a support organization that centralizes and manages all of the non-clinical functions of a practice. This significantly enhances the quality of life for physicians by enabling them to focus on clinical outcomes while also lowering costs through operational improvements and improving the patient experience.
In our first post, we’ll discuss the key strategies for building a support organization to support scale and growth. This includes centralizing core administrative functions, enhancing branding and marketing initiatives, creating a five-star compliance program and investing in technology, systems and people to deliver the best patient experience.
When the house is in order, then it is time to talk expansion. In the next four parts of the series, we will outline the four pillars of growth. These include Existing Location Growth, De Novo Expansion, Ancillary Service Expansion, and Strategic Acquisitions.