Steps in the Strategic Planning Process

As listed below, there are logical, distinct steps in the strategic planning process. As you know, I am a vocal advocate that all physician practices, no matter how small, should go through some type of strategic planning process. When go through the planning process, you should complete one step before moving to the next, even though they may occasionally need to go back and make changes to earlier steps. The seven steps listed below represent a systematic, rational, objective approach for developing a Strategic Plan, rather than relying upon politics, emotions, opinions, and subjectivity to determine your organization's future. Now quit wasting time and get to it!

1.   Develop a Vision and Mission Statement

2.   Perform External Audit

3.   Perform Internal Audit

4.   Establish Objectives

5.   Establish Strategies

6.   Implement Strategies

7.   Evaluate Strategies

8. Conclusion

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.