External comparison requires looking at key metrics from other companies within the same sector so that an organization can determine how they stand compared to their peers .This type of benchmarking provides important information about how successful organizations maximize resources while minimizing costs in order to stay competitive in the marketplace; consequently, it provides invaluable knowledge about how a business can improve its operations by learning from those who have achieved success in similar industries. Furthermore, external comparisons allow companies to develop realistic goals based on what has already been achieved by others operating within their specific market niche rather than setting unattainable targets that would require significant investment without any return on investment (ROI).

Analyze the Strategic Purpose of Each Level of Benchmarking and Specify the Overall Importance of Benchmarking as a Financial Planning Tool for a Medical Practice
The strategic purpose behind both internal and external benchmarks is clear: each serves as an effective tool for improving financial performance through careful monitoring and measuring certain key metrics related directly or indirectly with profitability . Specifically speaking, internal comparisons allow medical practices understand where they stand when compared with their past results while external ones provide them with vital insight into what their competitors are doing differently which might prove useful when attempting optimize costs while still delivering quality care services efficiently; both together serve as powerful tools when employed properly during planning stages so that management can make informed decisions regarding investments generated returns down line.. In addition ,benchmarks provide early warning signs if trends indicate potential problems ahead allowing practice owners have enough time adjust budget accordingly preventing unforeseeable losses long terms viability.. Overall importance benchmarking cannot underestimated since plays critical role helping medical practices succeed [financially] today’s highly competitive healthcare landscape especially since constantly evolving technological advancements changing “way game played” regularly lay solid foundations ensuring longevity sustainability .

Recommend a Health Information Technology (HIT) System That Includes an Electronic Health Record (EHR) for The New Practice To Implement
An EMR system offers many benefits including improved patient safety due possible reduction medical errors result real-time access complete medical record anytime anywhere securely saving practitioners considerable amounts money eliminating need purchasing paper files filing cabinets thereby reducing overhead costs associated manual filing storage paper records ….[necessary]. Other advantages include increased accuracy transcription resulting fewer mistakes greater convenience providers being able prescription refills automated reminders therefor increasing patient satisfaction reduced wait times staff members better utilize time on tasks enhance productivity example updating records faster .. providing quicker turnaround having test results available appointments reducing fraudulent activity patients giving quick answers questions site thoroughly managing patients care routines dramatically decreasing paperwork load … lot more…increased…. HIPAA compliance .. etc.. Three main benefits HIT system electronic health record new practice implement first mentioned above enhanced patient safety second enhanced efficiency clinic staff lastly improved communication among stakeholders ensuring compliancy regulations requirements set forth government agencies protecting interests customers insurance companies alike ….

Determine One Specific Hazard Associated With One Of These Risk Categories And Propose A Strategy To Mitigate The Impact This Risk Could Have On The Practice
One hazard associated with general liability risk category is failure comply workplace safety laws regulations resulting fines fees legal action lawsuits should employees injured job possibly putting practice out business all together strategy mitigate impact such risk plan established outlining protocols policies must followed keeping premises safe workers environment appropriate measures put place ensure adequate training provided staff regularly audit facility procedures take corrective action needed keep up date changes laws penalties imposed breaking them basis identified hazards addressed promptly …. Real-life example occurred 2017 involving Kentucky Physicians Group LLC accused OSHA failing maintain hazardous work environment resulted 477K fine issued due negligent behavior not immediately addressed injuries sustained reason instance illustrates dangers overlooking rules regulations particularly related health safety issues places every working person risk regardless position title held negligence unacceptable consequences severe economic ruin …..

Determine The Main Functions Of The Practice That Will Need To Remain Operational Before During And After A Natural Disaster Or Public Health Emergency
Before natural disaster public health emergency occurs main functions practice remain operational include maintaining open lines communication existing employees informing them best ways prepare handle situation if arises also important educate patients take proactive approach determining course action particular plans implemented case events occur ensuring updated contact information stored safely secure locations accessible team members quickly easily ..During event focus remaining operational mainly revolved around continuity care center able function limited capacity protect employees minimize spread infections amongst vulnerable population sending personnel obtain supplies necessary medications vaccines treat victims accessing equipment needed dealing effects disaster providing mental emotional support families affected region finally afterwards likely need assess damage caused restore fully back original state continue functioning normally again … Suggest Strategy Take Maintain Communication Employees Patients Secure Patient Financial Records Ensure Resources Available Care Patients During Disaster Emergency Suggested strategy maintain communication employees patients secure patient financial records ensure resources available care patients during disaster emergency involve establishing remote access systems protocol making sure connected internet computers tablets phones mobile devices remain active capable network data safely securely allowing team members communicate check status post updates regarding location availability services offer depending severity level event backup generators installed prevent loss power keeping supply essential items food water medication fuel standby cases prolonged blackouts restrictions limiting number people office reduce possibility transmission infectious diseases deploying security personnel various sites monitor situation across board enforcing social distancing guidelines issue neighborhood/statewide shelter homes evacuation centers people unable find refuge home monitors vital signs elderly immobile individuals providing psychological counseling survivors lastly creating online portal donations volunteers willing help clean up impacted area rebuild destroyed property showing appreciation dedication efforts made aiding recovery process….. Providing rationale response helps preserve lives human lives reduces amount suffering experienced citizens saves precious funds government entities ultimately alleviating burden taxpayers shoulders contributing prosperity nation whole .