An Investigation into Factors Influencing Business Growth of Private Physician Practices

Abstract

This study was carried out to investigate the factors that influence business growth of private physician clinics in Nyeri County with particular reference to management skills and knowledge. The survey was aimed at establishing how leadership skills, accounting and financial management skills, Human Resource Management and implementation of Information Communication Technology influence business growth of private physician practices. The background information has brought to fore the fact that private physician practice is essentially a business like any other and it needs to be managed based on business skills and knowledge if sustained growth is to be realized The literature review reveals that almost all training programs for physicians do not include teaching of business knowledge and skills and yet these are very critical to successful practice management. The researcher carried 'out a census of 31 private physician practices. Data was collected through use of questionnaires. Data analysis was done using Statistical Package for Social Sciences (SPSS). Correlation analysis showed that there is a positive relationship between business growth of physician private practice and leadership skills, implementation of Information Communication Technology, Accounting and Financial management skills and Human Resource Management skills, with the first two having the strongest correlation. The author recommends the incorporation of practice management in undergraduate and post-graduate curricular of medical schools. Physicians who are already in practice are encouraged to seek training in business management and also advised to implement the use of Information Communication Technology in the operation of their practices.