A business plan plays an integral role in running a successful general practice. It offers guidance and goals for marketing tactics, risk management strategies, and financial accountability. Your business plan can be key to keeping your practice operating smoothly, and although not mandatory, it is also now a recommended component of the RACGP Standards 5th edition.
As part of the RACGP Standards 5th edition Core Standard 3 – Practice governance and management, practices are required to implement a series of business goals, risk management, and mitigation processes, complaint resolution systems, and to demonstrate evidence of goal planning.
Often, we shudder at the thought of preparing a business plan, especially if we haven’t completed one before, or don’t even know where to start. That’s where AGPAL comes in.
To help you kick-start your business plan and support your practice with Core Standard 3, more specifically Criterion C3.1 – Business operations systems, our team has developed an extensive business planning package with support from RACGP resources and expert insights.
Your business planning package includes a customisable business planning template that is recommended for use in conjunction with our comprehensive list of business planning resources. You’ll find your new AGPAL business planning package available for download in your AGPAL accreditation hub by navigating your way to the EDUCATION & RESOURCES > RESOURCES > GOVERNANCE section.
This package aims to assist your team in developing an all-inclusive business plan to guide your practice’s future goals and direction.
There are a number of practice areas and information you will need to think about and gather for inclusion, so the best approach for development will be to take your time and complete your plan in chunks. Discussing ideas at team meetings can also prove helpful in the provision of varying view points and quality initiatives. As the business plan is fully customisable, add or remove sections that don’t meet your practice needs or move sections around to develop a flow that works for you.
Before you get started you may also like to view our webinar ‘Hot 5th edition topic – Business planning 101’ located in the EDUCATION & RESOURCES > WEBINARS section of your AGPAL accreditation hub.
Using the combination of our webinar, template and the accompanying financial tables, risk assessment matrix, and marketing guide, you’ll have all you need to complete a thorough and all-encompassing business plan.
For any queries regarding these newly available resources or your accreditation requirements contact your dedicated Client Liaison Officer.