Operation and managing of a medical practice requires multiple functions coordinated towards working the same goal and that is to give satisfaction to the patients by hiring trusted and highly qualified professionals to handle different medical services with a loving touch. System influences regulatory issues such as Medicare/HIPAA compliance, coding even handling reviews and audit. They must also effectively analyze fee schedules and overhead production analysis to prevent improper budgeting. Cost accounting services is also part of this revenue enhancement. Part of the system strategic planning consultation is practicing valuation, conducting negotiations and contract review.
Organizations can harvest several benefits from appropriately practicing strategic management. Thompson (1992) noted that strategic management provides better direction to the entire organization on the vital point of what it is we are trying to do and achieve?. The second benefit is seen financially as effective strategic management system increases productivity according to (Certo & Peter, 1988, p. 7) since it provides managers with a basis to evaluate competing budget request for investing capital and new staff. Governance is manifested by a group of individuals who have the authority and the strategic intent to make things happen. In this paper, several relevant constituencies are discussed….