Operations Management

What is operations management in a medical practice?

Operations management in a medical practice consists of developing and implementing an effective business plan and managing daily operations.

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Operations Management performance objectives include:

  • Demonstrate knowledge of industry benchmarks, best practices and total quality management techniques for process improvement.
  • Demonstrate knowledge of master budgets, employment law, healthcare rules/regulations and the ability to apply project management techniques to support the strategic plan.
  • Demonstrate skill to establish and coordinate the process of purchasing and asset management.
  • Demonstrate skill to provide a high-quality and safe environment.
  • Demonstrate skill to identify and govern outsourced business services and external expertise.
  • Demonstrate knowledge of how information technology supports business needs and organizational goals.
  • Demonstrate knowledge of communications, marketing and community relations.
  • Demonstrate knowledge of compensation plans, revenue allocation methods, expense allocation methods, and merger and acquisition agreements that establish productivity and compensation benchmarks for physician and staff.
  • Demonstrate skill to monitor physician conduct and performance expectations.

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How do you develop and implement an effective business plan and manage daily operations?

In medical practice management, operations management requires understanding of business operations and effective management of a medical practice.

Some examples of operations management include:

  • Establishing productivity and compensation benchmarks for clinical providers
  • Developing a technology plan
  • Implementing a public relations initiative to drive community outreach
  • Procuring supplies and equipment
  • Developing and maintaining safe and effective facilities