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StrategyDriven Professional Development Article

How To Decide If A Career In Healthcare Is Right For You

StrategyDriven Professional Development Article
 
A career in healthcare offers various opportunities – including becoming a doctor, nurse, chiropractor, physiotherapist, and dentist, to name a few. If you are reading this article, you may already be thinking about pursuing a career in healthcare but are not yet completely sure. The same way you would choose any career path, you need to think about the choices you are making, and thus weigh the pros and cons. Although, in this case, you need to consider what entering the healthcare industry means, including the money aspect, job security and even time required. The three most notable factors to keep in mind are education, your strengths and the lifestyle choice itself.

Education

What type of education do you need for a career in the healthcare industry? As with all industries, the different career options require different degrees. While some nurses may only require a college degree, becoming a doctor requires medical school and is a longer process. Yet another option in today’s day and age is advancing or completing a degree online. This is beneficial in order to gain work experience and school knowledge at the same time. The online MHA program is one example of this, allowing you to obtain a Master of Healthcare Administration online while continuing to work in your current field. When thinking about education, one of the most important considerations is that of time spent. How long will it take to obtain the degree? It is for this reason than an online degree is often beneficial. Read more

StrategyDriven Entrepreneurship Article

5 Business Opportunities To Consider In The Healthcare Industry

StrategyDriven Entrepreneurship Article
Photo courtesy of Pexels

When you’re trying to come up with the right idea for your future business, you’re likely to find yourself faced with a range of different options. Not only might you like to go with something that’s going to be a success, ideally it’s also going to be something that you either enjoy, or know a lot about. Because you’re going to have to market it, sell it, and live and breathe it. If you have a medical background, or you’re looking to get into the healthcare industry and you’re willing to train, you might in interested in a health-based business idea. Of which there are many, yet here are five for you to consider.

Medical Practice

If you’re a trained doctor, or you’re thinking about going to medical school, you could look into opening your own medical practice. Starting your own medical practice might seem like big business, and in a lot of ways, it is. But, it’s also an incredible way to ensure that you’re able to reach your potential as both a medical professional and a business person. If you’re planning on become a doctor, or already work for another practice, your next step along could be to go it alone. So launching your own practice makes a lot of sense.

Pharmaceutical Manufacturing

Or maybe you’re not medically trained, and you’re not looking to wait much longer to get going with your business idea. When that’s the case, you’re going to need to go in a different direction. And that direction could be towards pharmaceutical manufacturing. At this point, you might be wondering if you need either experience or money, this post will give you an honest answer to that, and help you to get started.

StrategyDriven Entrepreneurship Article
Photo courtesy of Pexels

Healthcare Consultancy

You could also think about consultancy. Maybe you’re interested in psychology, or you’re currently finishing up your psychology studies? Then why not think about starting your own therapist’s office, over working for someone else? Perhaps your medical experience is in another field? Well, then you could think about going into consultancy and providing your expertise and insight to hospitals that need the support.

Senior Care

But you could also think more along the lines of the care industry, rather than the medicine side of things. You should be able to find that senior care business opportunities provide you with the career choice you’ve been looking for. Combining both entrepreneurship and healthcare, you’ll be able to start running a profitable business that you can enjoy, as well as provide an incredible service to the seniors in your local area.

Healthcare Facility

Finally, there’s also the idea of starting a healthcare facility, like a senior care home. If you have experience in the elderly care industry and you’ve always wanted to be able to run your own show, this is the idea for you. You will need to find the right location, and look out for reputable staff that can bring your business to life, but if you’re serious about making it a success and creating a place the community can value, it will all be worthwhile.

StrategyDriven Business Management Article

How Health Practices Find New Ways To Expand Their Revenue

If you run a private practice and you’ve done for any serious amount of time, then you have probably already realized that you need to think about medicine as a business. Not just in how you maintain professionalism, effectiveness, and efficiency. You also need to think about profit, which many treat as a dirty word in the industry. However, getting more tight-fisted is not the only way to ensure you see more money. Instead, you should consider looking at just how your business could offer more and thus make more.

StrategyDriven Business Management Article
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Make use of that expertise

Besides thinking like a businessperson, to succeed in running a practice, you need real medical expertise. That same expertise could be the very same tool you use for finding new opportunities for bringing revenue into the business. Not only are blogs good ground for monetization through advertising and affiliates programs. They can also be a tremendous way to build your visibility and your personal brand online. You can also look into providing your advice as a premium product, by producing eBooks or getting into hosting webinars. At the same time, getting more involved in the community around you can help, too. Lots of experts find paid speaking opportunities to share their knowledge at seminars and other live events.

StrategyDriven Business Management Article
Photo courtesy of Pexels

Reach new patients

Naturally, trying to get as many patients into the business is the most obvious way to try and expand your ability to gain revenue. But you shouldn’t just think that outreach and marketing are the only ways to reach more patients. Instead, you should think about what might be preventing certain portions of the market from reaching your services. For instance, for some the barrier is physical. Some people are not mobile or well enough to reach your practice. To that end, some practices are starting to expand their services to those who need them not only by visiting more patients. Many are using more time-effective telemarketing methods from services like Chiron Health. Not only can you improve your patient portfolio, but you could be providing your services to those who have in dire need but lacking this whole time.


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Finding new niches

You might also be able to get more business from existing and new patients alike by simply offering them something that you weren’t able to do so before. When starting a practice, it’s a smart move to ensure that you’re spending on the essentials, investing in the equipment that can supply you with a steady enough flow of work to keep the doors open and the lights on. However, there are ancillary treatments that require more specific equipment or training. If you’re in a position to grow the business, then it might be time to invest in changes to the business that could open you up to extra services such as allergy testing and treatment or urgent care without an appointment.

As the practice grows, you may want to think about branching out into another location. However, that is a significant cost, so for those who want to grow without going to such lengths, the three strategies above can be tremendously helpful.

StrategyDriven Enterprises Extends its Advisory Services into the Healthcare Industry, Partners with Artower Advisory Services

 
StrategyDriven Enterprises LLC and Artower Advisory Services, LLC partner to provide healthcare industry executives and managers with Affordable Care Act mandated Quality Assurance Performance Improvement (QAPI) program consulting services.
 
 
Healthcare ConsultingStrategyDriven Enterprises, LLC and Artower Advisory Services announced a partnership that will expand the regulatory compliance services of both companies. The relationship combines StrategyDriven’s leading experience in quality assurance and performance improvement regulatory services with Artower’s healthcare industry expertise.

“Healthcare industry leaders must find cost effective ways to meet the new quality assurance and performance improvement mandates of the Affordable Care Act,” explains Nathan Ives, StrategyDriven’s Chief Executive Officer. “We believe by leveraging experiences from other industries that for decades have complied with similar mandates, healthcare executives can not only meet and exceed these ACA requirements, but do so in a highly cost effective manner.”

“We are excited about the opportunity to combine StrategyDriven’s capabilities with Artower’s healthcare industry experience,” asserts Scot Park, Artower’s Chief Executive Officer. “This partnership will create out-of-the-box products and provide advisory services that enable healthcare organizations, both large and small, to rapidly achieve cost effective compliance with the ACA’s mandates while simultaneously driving improved patient care.”

The StrategyDriven / Artower team provides healthcare industry leaders with an array of actionable performance improvement and regulatory compliance support in the areas of:

  • Self-assessment programs
  • Corrective action programs
  • Organizational performance monitoring programs
  • Risk assurance programs

About StrategyDriven

StrategyDriven provides executives and managers with the planning and execution advice, tools, and practices needed to create greater organizational alignment and accountability for the achievement of superior results. We believe a clear, forward-looking strategy, translatable to the day-to-day activities of all organization members, is critical to realizing success in today’s fast paced market environment. Not only does a compelling, well-executed strategy align individuals to common goals, it ensures those goals best serve the company’s mission.

At StrategyDriven, our seasoned business leaders deliver real-world strategic business planning and tactical execution best practice advice – a blending of workplace experience with sound research and academic principles – to business leaders who may not otherwise have access to these resources.

StrategyDriven refers to the family of organizations comprising StrategyDriven Enterprises LLC. For more information, please visit www.StrategyDriven.com.

About Artower Advisory Services

Headquartered in Willoughby, Ohio, Artower Advisory Services’ professionals support healthcare industry leaders throughout the United States. The Artower team has expertise in senior housing, aging services, post-acute/long-term care, and behavioral health. Several of our senior professionals previously held leadership positions within major healthcare organizations. Artower’s project teams work collaboratively across disciplines to deliver greater value through improved outcomes, integrated delivery, and lower cost. For more information, visit www.ArtowerAdvisory.com.

StrategyDriven Organizational Performance Measures Whitepaper

Achieving Organizational Alignment within Healthcare Organizations

StrategyDriven Organizational Alignment WhitepaperCo-authors Nathan Ives, StrategyDriven Principal and Scot Park, Artower Principal, released a new white paper on organizational alignment and performance improvement for the healthcare industry. The paper describes how best practices in measuring organizational performance in the nuclear power industry can be applied to healthcare providers facing the daunting challenge of concurrently increasing production, efficiency, and quality – all while reducing operating costs. The Value-Based Performance Improvement Model© is an affordable approach that healthcare providers can use to develop a Lean Six Sigma style performance measurement system.

StrategyDriven recently formalized an alliance with Artower Advisory Services to deliver Value-Based Performance Improvement services to healthcare providers and are looking forward to helping these organizations realize the critically important economic benefits created through the use of this new performance improvement model.

Download a copy of Aligning Healthcare Organizations: Lessons in improved Quality and Efficiency from the Nuclear Power Industry by clicking here.


About the Authors

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal, and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Scot Park is a Principal and co-founder of Artower Advisory Services. He has spent the past two decades serving the Healthcare Industry with a focused on Aging Services, Senior Housing and Post-Acute/Long-Term Care. Scot holds a BA in Economics with concentrated studies in Public Administration from John Carroll University. To read Scot’s complete biography, click here.