Diagnostic Checklists

Assessing the competition: A checklist

The following checklist should determine the extent to which you are familiar with the competitive environment. Your answers should provide an indication of steps you should take to be better informed concerning the competitive situation.

  1. I have a good understanding of the geographic area my practice serves:   Yes   No   Not sure

  2. I have a good understanding of the patient segments my practice serves (e.g., seniors, children, older adults):   Yes   No   Not sure

  3. I have a good understanding of the demographic attributes of the patients my practice serves (e.g., income levels, racial/ethnic composition):    Yes   No   Not sure

  4. My payer mix is _______ compared to my competitors:   Favorable   Unfavorable   Not sure

  5. My market share within my specialty area is:   <5%   5%-10%   10%-15%   15%-20%   >20%   Not sure

  6. My market share for my most frequent service/procedure is:
    <5%   5%-10%   10%-15%   15%-20%   >20%   Not sure

  7. My market share for my most profitable service/procedure is:
    <5%   5%-10%   10%-15%   15%-20%   >20%   Not sure

  8. My major competitor(s) is a specialty group similar to mine:   Yes   No   Not sure

  9. My major competitors are _______ than my group:   Smaller   Larger   Not sure

  10. Some practitioners outside of my specialty are competing for my patients:   Yes   No   Not sure

  11. Hospitals represent major competitors for my patients:   Yes   No   Not sure

  12. Shifts in the location of major patient populations are ________ to my practice:
    Beneficial   Detrimental   Not sure

  13. I know which segments of the population will be growing over the next ten years:   Yes   No   Not sure

Assessment:
If you answered “not sure” to any of the above items you may want to take advantage of Rea & Associates market research capabilities. If you answered “not sure” to several of the above items, you should consider a practice assessment by Rea & Associates. If you answered “not sure” to most of the above items, you should consider an in-depth practice assessment and competitive analysis by Rea & Associates for your practice.