Strategically Planning for Success
Dr. Solomon is part of a large group practice with multiple locations throughout the Charleston, South Carolina area. His practice is focused on LASIK and refractive cataract surgery. Dr. Solomon originally contacted BSM Consulting about 8 years ago, and BSM continues to provide ongoing support to his practice in various areas.
Initial Assessment of Private Practice Opportunity
As a well-established surgeon in a university setting, Dr. Solomon contacted BSM Consulting when he was considering changing his career direction and becoming part of a private practice. He was looking for a business advisor who would objectively assess the opportunity and help create a plan for success. He wanted someone with experience that he could trust.
Given the market and situation, an initial assessment was created. A tentative plan was drafted and after several months of consideration, Dr. Solomon decided to take the risk and launched into private practice.
Ongoing Financial, Operational, and Market Assessment Support
He continues to rely on BSM Consulting to help assess his current situation and create strategic plans and budgets annually. BSM Consulting regularly assesses:
- Efficiency, production, and staffing ratios compared to benchmarks
- Patient satisfaction survey results
- Assessment of the market area to help identify opportunities
- Financial satisfaction
- Staff satisfaction
- SWOT analysis
- Results of action plans
Ongoing Strategic Planning Support
Side-by-side with his director of operations, Crissy Justice, Dr. Solomon regularly reviews plans and makes adjustments. They know that planning is an ongoing process and though BSM Consulting does visit on site annually, the consulting team at BSM are also available as necessary to assess new opportunities as they arise. This includes:
- Financial impact analysis for new services
- Feasibility analysis for new equipment
- Staffing models
- Customer service training
- Monthly reporting and monitoring of key performance indicators
- Development of incentive programs
The disciplined approach to planning has helped Team Solomon achieve many goals over the years. Whether implementing a new cataract consultation process, introducing a new piece of technology, or setting the high bar for customer service, the team is engaged and involved because they are included in the planning process. This makes the practice environment enjoyable, the doctor happy, and most importantly, it means the practice has happy patients.