6 Tips to Develop a Competitive Advantage for Physician Platforms
We have focused on healthcare for the past decade as observers, operators, and doers working with over 600 physicians across the country from individual to small, medium, and large sized practices. We recognize physicians as both physicians and entrepreneurs trying to navigate the ever-changing landscape of healthcare in our country. How can you truly differentiate your platform from your competitors? Where is your secret sauce and passion focused?
Here are our top 6 tips for developing your competitive advantage and a clear strategy for the growth of your platform:
1. Market Awareness
Conduct a competitive analysis. What are your competitors doing that’s different from you? What are you doing that’s better?
2. Process of Self-Discovery
It’s not enough – or realistic – to just “do everything better” or “work harder”. Through a little play, you can find how to change the status quo and evolve, strategically.
Be flexible with your own personal convictions and with your team to allow your practice’s advantage to surface. Leave room for novel approaches that are different than the norm, common perception, bias, or assumptions.
4. Treat People Individually
We are all different.
5. Obsess Over Success and Every Detail
Ride a long sustainable wave of intensity with a surfboard of calmness. The balance of control with excellence in execution earns you the right, time, and resources to understand and lead into the best opportunities for change and improvement in your practice. Without excellence in execution, we spend all our time on the dysfunctions.
6. Double Down on Your Secret Sauce
Invest your time, energy, and money in a curated strategy that will let your strengths shine and set your practice up for success.