Reference no: EM131147430

Physician practices are a key component of the U.S. healthcare system. According to the text, a significant amount of revenue that the healthcare industry generates can be directly linked to the care that physicians provide for their patients. In addition, physicians in a medical practice add to this revenue stream by admitting patients to a hospital, prescribing prescription medication, ordering home health services and medical equipment, and referring their patients to other healthcare providers for care and treatment. As a future healthcare administrator, it is important for you to demonstrate an understanding of the challenges and opportunities that today's physicians face in providing quality healthcare services.

Write a four page (4) paper in which you:

Compare the main various forms of medical group practice. Next, select the form that would be most attractive to a newly licensed physician. Justify your selection.

Analyze how the role of the physician in a medical practice has changed in the past twenty (20) years. Assess three (3) specific challenges that today's physicians face as members of a medical group practice. Support your response.

Suggest three (3) specific competencies that a physician should demonstrate to be successful as a practice manager. Next, determine three (3) hurdles that a physician might face as the leader of a group practice. Provide rationale for your response.

Assess the value of effective Human Resources Management (HRM) in a medical practice. Suggest three (3) functions of HRM necessary to attract and retain the type of employees needed for the practice in order to achieve long-term success. Support your recommendations with specific examples of how each function impacts the overall success of the practice.

Determine three (3) aspects of consumer behavior that the physician's practice management should consider as part of an effective marketing strategy for medical practices. Provide a rationale for your response.

Use at least three (3) quality academic resources. Note: Wikipedia does not qualify as an academic resource.

Format your assignment according to the following formatting requirements:

Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.

Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page is not included in the required page length.

Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.