Medical Practice Management Books, Journals and Articles for Physicians, Practice Administrators and Doctors' Office Managers

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Starting and Managing a Practice in Tough Economic Times

Starting and Managing a Practice in Tough Economic Times

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Speaker: Marc Halley

Clearly understanding and effectively implementing the basic principles of successful medical practice management have never been more important than they are today. Continued downward pressure on reimbursement, increased patient responsibility for payment, higher practice expenses, and many other factors threaten our survival.
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Even relatively recession resistant specialties are experiencing fallout from local, regional and national economic challenges. Physicians, management and support staff must work together to ensure that practice operations are " "hitting on every cylinder" " if practices are to become and remain financially viable, or return to viability.

In " "Starting and Managing a Practice in Tough Economic Times, " " Marc Halley discusses the importance of physicians working on the business as well as working in the business, even if they are in an employment arrangement. He also discusses the twelve Critical Success Factors necessary to ensure continued financial success. Eight of those factors affect the revenue side of the practice income statement. The other four factors affect key practice expenses. Marc also discusses a few high leverage performance improvement tactics that should be part of a Rapid Improvement Plan for practices that are in serious financial trouble.

Learning Objectives:
  • Participants will understand the twelve Critical Success Factors affecting practice operations, and their role in promoting performance improvement.
  • Participants will understand the importance of developing a Site-Specific Action Plan to monitor performance improvement and to promote " "A Culture of Accountability." "
  • Participants will understand high leverage tactics to rapidly improve performance in struggling medical practices.

  • Meet Our Expert Speaker: Marc D. Halley, MBA, is President and Chief Executive Officer of Halley Consulting. Marc has provided management and consulting services to medical practices for more than 20 years and has worked with a variety of specialties, including hospital-owned practice networks across the United States. He has negotiated numerous contracts to acquire medical practices on behalf of hospitals in highly competitive environments, served as senior operating officer of primary care networks, facilitated the financial turnarounds of hospital-owned medical practice networks and worked with physicians to take primary care networks into risk-sharing arrangements, including carrier contract negotiations for a 100-physician primary care panel. He also developed and implemented numerous models and tools to assist physicians and managers to track and improve medical practice operations. His Supervisory Training Program has been taught to medical office managers around the country.

    Marc is a frequently requested speaker, addressing governing boards, senior executives, physician groups, management teams and national organizations, including the American College of Healthcare Executives, Healthcare Financial Management Association, Medical Group Management Association, state hospital associations, The Healthcare Roundtable and many more. He has authored and co-authored several articles that have been published frequently in industry publications such as Healthcare Financial Management and the Journal of Medical Practice Management.

    Marc is the author of The Primary Care Market Share Connection: How Hospitals Achieve Competitive Advantage, contributor to The Business of Healthcare edited by Cohn and Hough, and co editor of our own new book, The Medical Practice Start-Up Guide released by Greenbranch Publishing in 2008.