We are constantly doing research and applying the same towards what we should be doing to prepare. In a way we consider this effort and the product of the same our “Healthcare Business Priorities”.
Let’s backtrack and expand on this concept. The reality of the healthcare business is that it is in constant flux. Not only are there new techniques and protocols to help patients but also laws, regulations, technology and client behavior. In fact, if there is something that alerts us of issues, it is when we hear the phrase: “we had always done it this way”.
Face it, the times when a physician finish school and started a business just by putting a shingle on the door are over. The sad part is that most healthcare professionals train to be good providers and that this doesn’t necessarily translate into good business professionals. Even worse, based on the number of regulations we must follow we may get a good healthcare provider that is a good business person and trip due to failure to comply with the current regulations.
This is the reason we have decided to write this guidance, so we can assist healthcare professionals with what we think should be the healthcare business priorities for this month of March.
First and foremost, we think that every business should invest in marketing. By the way, marketing is not buying an ad and forgetting about it. Marketing is also not going to an activity and considering you are done. Marketing is a continuous effort designed to entice customers to buy from you. But before you start any marketing efforts you need to answer the following questions:
- What are your products/services?
- Who is your target audience?
Once you gather the answers to these questions you can start looking at other things such as websites, marketing platforms, outreach efforts and metrics to measure your success. If we are to suggests specific steps, we would recommend:
- Develop/update your website. Remember that simple is best.
- Start introducing your presence to the market with:
* Social Media Presence
* eNewsletter
* Monthly blog
While you are working on your marketing I will also consider training/coaching for your management team. At Taino Consultants, we have started offering CEO coaching and sales coaching to our clients. Coaching is a simple concept that many high-performance individuals live and swear by. The concept and implementation is simple as all you need is to find someone competent and willing to assist and then schedule a set time to talk on an ongoing basis. In our CEO and sales coaching program we have found that one hour per week works best for most individuals. As they progressed we “graduate” our clients to one hour every few weeks, to every month and finally to every couple of months.
Medicare Providers. This month should be about MACRA. Mar 31st is the last day to submit the 2017 measures and we strongly recommend you do not wait until this day to submit. In fact, the Centers for Medicare and Medicaid Services (CMS) have released a tool that allows partial submission and updates every time a user enters additional information. Amazingly enough, this is the perfect tool for our times. Enter what you have and update as often as possible. At the same time, it is never too early to start gathering and submitting the measures for 2018.
Considering the current variables, we will recommend the following steps:
- Register to use CMS Portal,
- Submit measures on a weekly basis until Mar 31st,
- Start working on 2018 measures, and
- Conduct a Security Risk Analysis for 2018.
There is always plenty to do but it wouldn’t be Healthcare Business Priorities if we provide a whole list so for now simply concentrate on the following:
- Marketing
- Business Coaching, and
- MACRA (for those that apply)