Is your practice ready to expand?

Hey there folks, my name is Keith Reynolds, I’m the editor of Physicians Practice and this is the P2 Management Minute. Before you hang a ‘Coming Soon’ banner, run through these three expansion checkpoints.

1. Clarify the strategic aim

In one sentence, state what the new space must do: shorten waits, tap a new payer cohort, add ancillaries, or pave a succession path. Tie that goal to two or three hard metrics—say, visit volume or Net Promoter Score—so bankers, partners, and staff measure success the same way.

2. Stress-test the finances

Build a multi-year pro forma before talking drywall. Model capital spend, staffing, payer mix, and ramp-up volumes. Add sensitivity tables: what if reimbursement slips three percent or construction drags two months? Lenders want proof you’ll cover debt and physician comp even in a downside case.

3. Map the market

Location still rules. Analyze traffic, parking, signage, and neighborhood demographics. Census data tells you where young families, or weekend warriors, live, while planning-commission minutes flag future competitors. The right address can make or break ROI.

Set a clear aim, vet the numbers, scout the market and then expand with confidence. For more bite-size practice tips visit PhysiciansPractice.com. Thanks for watching I’ll see you tomorrow on the P2 Management Minute!

About the P2 Management Minute

The P2 Management Minute is a fast-paced video micro-series from Physicians Practice that distills proven management strategies into bite-size, one-minute episodes for busy medical practice administrators and lead physicians. Each installment spotlights high-impact tactics—drawn from real-world best practices and expert insights—that administrators can apply the same day to boost efficiency, strengthen patient satisfaction, or elevate staff engagement. No theory, no fluff; just concise, actionable guidance that respects tight schedules and delivers measurable results between appointments.

Record your own!

Interested in stepping in front of the camera to share a quick tip of your own, or have a suggestion for a topic we should spotlight in an upcoming P² Management Minute? We’d love to hear from you. Whether it’s a proven strategy for streamlining workflows, a clever morale-booster, or a hard-won lesson on patient engagement, your insight could help peers across the country elevate their practices in just 60 seconds. Drop Keith a note at kreynolds@mjhlifesciences.com with your idea—or, better yet, a brief outline or smartphone video sample—and we’ll walk you through the simple submission process. Let’s collaborate to make every minute count for the medical community.

Keith A. Reynolds is the editor of Physicians Practice and wants to know what practice issues are keeping you up at night. You can let him know at kreynolds@mjhlifesciences.com.