Most hospitals undertake an annual strategic planning process. Medical practices also plan, but less frequently. In fact, sometimes medical practices erroneously depend on a hospital market analysis for their planning. This paper serves as an opportunity to review key concepts in developing an analysis of a “market”.

In times of increasing costs and declining reimbursement, physicians find themselves working harder for little or no increased financial reward. As revenues stagnate, compensation becomes an even timelier topic.

I recently had the pleasure of driving through some beautiful farmland in the Midwest on my way to a client engagement. After 30 years of serving as an advisor and consultant to hospitals, health systems and medical practices in the area of strategy and business development...