Q&A for physician practices: how to build long-term success with effective strategic planning sessions

As physician practices face stealthy marketplace competition, decreasing reimbursements, and increasing costs, it is crucial that they take a proactive approach toward strategic planning for their business. Merely accepting today's rocky business environment as the status quo and allowing it to dictate the direction of the practice can be a formula for failure. In fact, practices can and should rely on their colleagues and industry data for assistance and direction. As the saying goes, "There are no foolish questions." This article will address a few questions about strategic planning and how groups can implement an action plan to ensure success.