The economy remains unpredictable.  The outcome of health care reform is unknown and health care leaders keep on wondering what the future holds.   Young physicians entering the market will proceed with caution when making a decision about their future. Employed physicians may sit on the sideline and watch the ball game,  but if you are in private practice and entrenched in the community chances are you’ll stick it out – for better or for worse.   Take heart, there are steps you can take to make things better.

Know your position.   Examine practice finances; how well money is being managed in terms of improving revenue, controlling expenses and managing accounts receivable.  Are you better off than you were this time last year? If not take strides to make a difference by setting financial goals and establishing methods to attain those goals.

Embrace the future.   Look at what’s happening around you and the changes that are coming down the pike.  Read, listen and explore the impact of these changes. Use this information to develop a strategic plan that positions you for the future.  Identify what resources you need to accomplish this and turn to experts to help you out It’s all about being prepared and responding sensibly.  Act, don’t react and you’ll make better decisions for your future!

Capko & Company, a leader in healthcare management and marketing consulting.

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