Reference no: EM132034033

Question: Details: Learning Exercise

You are the business manager of a fifteen-physician group prac-tice in family medicine that at a recent strategic planning retreatagreed to open a satellite clinic on the periphery of its current marketarea in order to increase the number of families that it serves. Theclinic will be located in an area of somewhat older, rundown homesthat seems to be undergoing slow but steady gentrification. Theclinic initially will be staffed by three physicians and has a max-imum capacity of ten doctors. One of your responsibilities under thestrategic plan to create the clinic is to establish a modest programfor keeping track of the factors and variables that might affect thesuccess of the clinic. To get started, prepare a list of ten to fifteenfinancial and nonfinancial metrics that you propose to monitor,including the sources you will use to gather the necessary data. Foreach one of the metrics, indicate the directions in which they mightchange and the adjustments in the plan for the new clinic that wouldbe necessary.

As the Learning Exercise states, you are the business manager who has been tasked with researching the financial viability of opening a satellite clinic. Identify which things you should measure to determine if you open the satellite clinic.

Create a slide presentation (15 slides including title and reference slides) that addresses the following:

1. Identify 10-15 financial and nonfinancial metrics used to assess the viability of opening a satellite clinic. From this list, select three financial and three nonfinancial metrics that are the most important and explain their significance (net revenue, demographics, customer relations). Where will you find, and how will you gather, the identified metrics you need to develop your assessment? Be sure to identify each metric as external or internal.

2. Provide a description for each selected metric (total of six descriptions). Depending on the data provided, how can each metric affect the plans for the new clinic? Assuming the satellite clinic will open, how will you set up a monitoring and adjustment program? List the required steps. Why is a monitoring, evaluating, and adjusting strategy essential to overall organizational success for the new clinic? Provide two possible events that a successful monitoring program could identify and what adjustments could apply.

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