Establishing a succession plan is vital to the continued operation and success of your medical practice. But succession planning isn’t just beneficial for your employees and fellow practitioners – it also can help you provide better quality of care for your patients. In this blog, we’re discussing how succession planning can impact your patients, and how a solid plan can help ensure they receive continued quality care. 

Read More: Why Your Practice Needs A Succession Plan

What Is Succession Planning?

As a best practice for medical organizations, succession planning is the process of identifying critical positions in your organization and developing a plan to fill these positions. Succession planning can:

  • Guarantee your medical practice retails a pool of talent for key roles and tasks.
  • Ensure physician providers have targeted career development strategies, with clear opportunities to learn, grow, and advance.
  • Provide patients with access to physicians who are reliable and knowledgeable.

While developing a succession plan might feel challenging, it’s important to remember that you don’t have to take on this process alone. By partnering with an experienced group of medical consultants, like the team at Vector Medical Group, you can ensure that your future staffing needs are met and filled by the right people for your practice. 

 

Read More: Merger And Acquisition Consulting

How Does A Succession Plan Impact Patients?

One of the key objectives of succession planning is to ensure your patients have continued access to physicians who are reliable and knowledgeable. When you, or your fellow providers, move on from your current practice, you’ll want to ensure that your patients feel supported by any successors who might fill your positions. And the assessments that accompany developing a succession plan – including a current state assessment, future-state assessment, and gap analysis – can even improve patient experience right now. 

The Current State Assessment 

When you partner with Vector Medical Group for your succession planning, we’ll begin with a current state assessment of your medical practice. We’ll collect and analyze your organization and demographic data, identify and prioritize key work processes and positions, and identify availability of resources and systems. By considering factors like upcoming retirements, leadership development, and training programs, our experienced healthcare consultants can help you identify areas where your practice could improve succession planning to benefit your patients. 

The Future State Assessment 

The future state  analysis with Vector Medical Group considers future requirements for services alongside upcoming changes in your industry. We analyze anticipated future demand, patient expectations, and regulations to develop your succession plan priorities. And by putting customer expectations at the center of this analysis, our consultants ensure that your succession plan will benefit patients for years to come. 

The Gap Analysis 

Finally, the gap analysis determines how your organization’s current state falls short of your organization’s future state and develops a road map to navigate your organization to where you want to be. Alongside your leadership, our consultants analyze workforce, processes, systems, and resources to ensure your practice has the talent and personnel to provide comprehensive, long-term support for your patients.

Succession Planning With Vector Medical Group

At Vector Medical Group, we’ve developed a strategic planning framework to support your practice as you move through the succession planning process. Within this framework, we’ll work with you to:

  • Develop a clear statement of purpose for your practice
  • Learn from your practice’s past to plan for the future
  • Consider your future partnerships, strategies, and leadership objectives
  • Determine strategic aims and objectives
  • Deliver on goals

By leveraging this framework, our experienced healthcare consultants can ensure your succession planning is seamless and comprehensive, and that the well-being of your patients is kept at the forefront of the planning process. 

Providing Long-Term Support For Patients

When you partner with Vector Medical Group, we collaborate with you and your leadership to provide sustained support of your practice. By developing and implementing a succession plan, you can feel secure in the knowledge that your practice and patients will benefit from VMG’s continuous measurement, evaluation, and adaptation of the plan. 

 

Ready to start your practice’s new chapter? Book your introductory consultation with Vector Medical Group today!