Performing a strengths, weaknesses, opportunities and threats analysis is important for all healthcare providers, including anesthesiologists, according to a March 13 blog post from Tony Mira, founder and CEO of MiraMed Global and president and CEO of Anesthesia Business Consultants.
Below are key points for anesthesia practices to consider when performing such an analysis, according to Mr. Mira:
Desirable strengths practices can demonstrate:
1. Practice has consistency and a high quality of clinical care
2. The practice is a model of customer service
3. Practice members have a clear understanding of leadership values
4. Effective management, including in billing and third-party management organizations
5. Practice can recruit and retain an appropriate staff of qualified providers
Common weaknesses:
1. An inability to establish consensus on managerial decisions.
2. Individual disruptive providers compromise the reputation of an entire organization
3. Constant turnover, inadequate staffing and an inability to recruit
4. Unrealistic coverage requirements
Opportunities:
1. Practices should follow their patients and revenue, not be dedicated to one facility
2. Pursue contracts with ASCs, but carefully evaluate all opportunities
3. Explore chronic pain
4. Look into playing a more active role in operating room management
Threats:
1. The tedious and stressful nature of request for proposals
2. Hospital ownership changes and mergers
3. Declining hospital profitability
4. Losing a long-term anesthesia contract to a new provider group