Create an executive summary using a executive report template about the case study below:

You are the manager of Village Family Practice, which is a large multi-specialty practice.The practice has been operating under a traditional practice management model and has a regular base of patients, accepts walk-ins, and their physicians routinely conduct patient rounds at local area hospitals and academic medical centers. The practice's payer mix is not unlike competing practices in that the majority of their patients have private third party coverage (fee-for-service and managed care); an expanding number of retirees (Medicare); and a restricted number of Medicaid/CHIPS and cash payers.

The practice has experienced a modicum of success over the years; however, in recent years, they've noticed a decline in patient volume and a lowering in their reimbursement rates. Correspondingly, the practice has noticed a increase in their operating costs due, in large part, to healthcare inflation which has driven up the price of inputs (consumable supplies, labor, contract services, etc.) and imperfect market conditions resulting from the creation of new laws, health policies, and regulations.

Speaking of imperfect market conditions, over the years, the sheer volume of regulations has placed a burden on the practice and added a degree of stress to you and the owners. Failure to comply with these regulations could very well compromise the practice's ability to service Medicare and Medicaid beneficiaries. The convergence of these factors are contributing to the financial strain befalling the practice and general unease regarding the practice's ability to remain competitive and financially solvent. With increased competition in the local market, it is more important than ever that the practice come up with new and innovative ideas to differentiate itself from the emerging competition.

The physician owners have a great deal of confidence in you and have requested that you formulate an innovative plan to reverse the current downward trajectory of the practice and better position the company for future growth. They are looking to establish, and then maintain a competitive advantage in the marketplace. The owners are dead set on opening up another practice location, but appear open to changing their existing business model to achieve and sustain growth and financial solvency.

Executive Report. To: Title: Purpose Background Discussion Recommendation Executive Member Title