Executing a Turnaround: A Strategic Approach to Evaluating and Improving Your Center's Performance
1 hour Audio and Power Point Presentation
Recorded September 26, 2015
Discover how assessing your practice's strengths and weaknesses on a global basis can improve your center's overall performance during this one-hour session. Key concepts are provided for developing a long-term strategic plan, building a financial model allowing you to make better informed business decisions that manage risk long term, and learning how to better manage your A/P and work with creditors to free up cash flow. Obtain insights on how to evaluate your financing needs, how to work with banks and other lenders and how to assess your competitive landscape and develop a marketing plan that drives top line growth. Lastly, understand the keys to building a strong management team and developing a positive business culture.
- Attendees should be able to identify an end goal for their practice, which is the first step of the long-term strategic planning process.
- Attendees should be able to develop a financial forecast for use in business decisions that includes revenue enhancement through improved marketing and billing/collections, improved cash management by managing payables, as well as opportunities for cost containment
- Attendees should be able to build a cohesive, effective management team and identify the optimal staffing mix and management processes leading to a positive center culture
- Attendees should be able to evaluate their debt service and other obligations, work with creditors to re-structure debt and engage creditors, bankers and investors regarding their strategic plan
- Attendees should be able to assess upside volume opportunity in their community and develop a comprehensive marketing plan to drive top-line revenue growth
Disclosures: The faculty listed below has no relevant financial relationships to disclose.
Luke Hart is CEO of Hart Business Consulting, a practice that advises small to mid-size businesses. This is an area he believes is underserved and where business owners who often lack the resources to hire fully staffed executive teams, need the right, qualified advice to effect positive business outcomes. Luke works with a variety of medical practices on matters from business audits, preparing companies for sale, specific operational or financial issues to turn-around situations. Luke’s operational and financial background allows him to bring a “global” perspective to his work which is what clients need in an ever changing business landscape. Previously Luke was CEO of Advantage Urgent Care, a leading urgent care provider. Facing bankruptcy, AUC engaged Luke in 2012 to turn around the business and negotiate/execute a sale, which was successfully achieved in 2014. Before that, Luke was COO/CFO of a leading multi-location medical practice in Arizona that at the time of his hiring faced numerous operational difficulties. He navigated the business through a complex ownership lawsuit and State audit, allowing for a successful change of ownership. Prior to moving to Arizona from London, England, Luke worked as a Vice President in Corporate Finance for Lazard, one of the world’s leading investment banks. Working across a variety of industries, Luke provided independent advisory services to Governments and Corporations relating to mergers, acquisitions and divestitures, private placements and capital raisings/IPOs. Prior to this he worked at CSFB, focusing on M&A and capital markets. At Lazard and CSFB, Luke advised clients on deals totaling over $5BN dollars. Luke holds a Bachelor of Arts degree in Politics and International Relations from Reading University, England. He was educated at Tiffin Grammar, a leading school in the United Kingdom.
The Urgent Care Association of America designates this enduring material activity for a maximum of 1 AMA PRA Category 1 Credit(s)TM. Physicians should claim only the credit commensurate with the extent of their participation in the activity.
This activity has been planned and implemented in accordance with the Essential Areas and Policies of the Accreditation Council for Continuing Medical Education. Credit for this course is good for 1 year after purchase.
Urgent Care Management Certificate
Earn 1 UCMC credit in Operations by listening to this recorded session.
Submitting for Credit:
If you would like to submit for either of the credit above, once you complete the activity you must submit for credit you will need to complete the 5 question exam. You must answer 3 out of 5 correctly to receive credit. Your credit will be placed in your profile under Professional Development or click on "My Credits". Email firstname.lastname@example.org with questions.
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