Introduction and OCB Analysis
The cost of entry into the private medical practice space is usually too high due to the huge costs to attain required quality of education and the initial costs to set up a medical practice. The Ophthalmic Consultants of Boston (OCB) addresses this issue by providing general administrative and clinical functions for its independent member practices. Asides minimizing cost of operations by sharing common resources, this strategy allows physicians to focus on their strengths and achieve more results in the time they have to work.
According to Amar Bhide (Bhide, 1994), The nature of the business is a hustle business and its successes are hinged on the reputation of the medical practices and their ability to attract patients and generate huge referrals from other doctors. By ensuring a high level of quality across its practices, OCB has been able to maintain its reputation in the industry, which is responsible for its growth so far.
However, due to its structure, the continued growth of OCB is hinged on the collective growth of all its member practices. Currently, OCB lacks a general growth strategy for the organization as a whole. Also, there is no standardization of procedures across practices and the decision making process is too long. This causes ineffective allocation of resources and increases operating costs.
Dr Shingleton’s Practice
In order to maximize returns from his practice, Dr Brad Shingleton implemented processes to ensure that all aspects of his consultancies are standardized. This increases the efficiency and overall productivity of his team. He also focused on an aspect of eye surgeries that has a guaranteed increasing demand (The 65+ population that needs cataract and glaucoma surgeries). This approach also guarantees funding since at least 90% of the patients have insurance. Another point that differentiates Dr