Operations Planning for a Group Medical Practice

Imagine that a group of physicians who are planning to open a single-specialty group practice has hired you as
a consultant. Your job is to advise the physicians in creating a business plan that includes management
strategies that will help ensure their success. The physicians have stipulated that the plan must promote
medical excellence and limit their exposure to risks associated with the practice of medicine and the
operational functions of the practice. In addition, they are aware that a public health emergency or natural
disaster could have a significant impact on their practice, and therefor they want to include a strategy for
emergency preparedness as part of their plan so that they will be able to manage their patients and help serve
the community as needed.
Write a 3–6 page paper in which you:
Compare and contrast the two main levels (i.e., internal comparison and external comparison) of financial
benchmarking. Next, analyze the strategic purpose of each level of benchmarking and specify the overall
importance of benchmarking as a financial planning tool for a medical practice.
Recommend a Health Information Technology (HIT) system that includes an Electronic Health Record (EHR)
for the new practice to implement. Support your recommendation by determining three main benefits of having
this type of system for the practice.