SOUTH AFRICA— The financial services group that exclusively serves graduate professionals, the Professional Provident Society (PPS), has commenced the South African Health Business Academy (SAHBA).
According to PPS, it’s the first institution of its kind in South Africa dedicated to medical and healthcare professionals.
SAHBA aims to enable emerging and established private practice principals to build and grow future-ready businesses.
The academy’s sustained training program will commence in November 2023 in Johannesburg and Cape Town.
The curriculum is designed to support health professionals as they progress through their career stages, from public to private practice, growing established practices, to preparation for practice succession.
PPS will introduce additional, tailored value-added programs and masterclasses as SAHBA gets more established.
Through SAHBA, PPS aims to facilitate a curriculum of educational events with transformational impact by addressing healthcare professionals’ business, financial, and lifestyle challenges and opportunities at different stages of their careers.
Steven Macarounas, a renowned thought leader in the medico business, financial, and lifestyle models will be the program director of SAHBA, PPS announced.
Macarounas and his team of consultants and educators from the Business Money Life Institute in Australia, together with a network of South African business and financial subject matter experts.
They will guide the healthcare and medical community to build sound business and financial lives.
PPS also mentioned that the initial three events are the Transition to Practice course designed for those transitioning from public to private health practice.
The second is the Practice and Personal Growth Strategies course which will explore emerging healthcare and lifestyle models for doctors in established practice and provide strategies required for business and lifestyle success.
Finally, is the Practice Succession Planning retreat to help maximize the value embedded in the practice to achieve saleable, transferrable value.
Izak Smit, PPS Group CEO, “We have long held the belief that knowledge supports informed decision-making. Sustained education is the key to success and buys you options if you want your business to operate at its full potential.”
Smit noted that PPS is built on supporting professionals and returning value to them through mutual success and for a business to operate at its full potential, it needs to have a fair degree of entrepreneurial spirit and framework.
Smit also added that the program targets those transitioning from public to private practice, those already in private practice who seek to unlock operational efficiencies and growth, and mature practice principals contemplating retirement and practice succession.
Overview of Cohorts and curriculum themes
The first cohort the Transition to Practice in an Age of Disruption, is designed for those transitioning from public to private healthcare practice.
The curriculum will explore themes in the changing face of healthcare delivery and provide comprehensive training on the fundamental principles, strategies, and actions required to successfully establish, manage, and grow a healthcare business and personal life.
The second cohort will be based on practice growth strategies which is an exploration of emerging healthcare and lifestyle models’ is suited to doctors established in practice.
The course will address why growth is crucial for survival and the mindset and strategies required for business and lifestyle success.
Amongst the themes that will be explored are how to be a leader in healthcare disruption; the role of data science and business intelligence; the group, multi-discipline and multi-site practice and contracted doctors: attracting, nurturing, retaining, and creating a path to equity, amongst others.
The third cohort is for practice succession and maximizing the value embedded in the practice to achieve saleable, transferrable value.
Delegates will gain a deep understanding of the following themes, the characteristics of a saleable practice, the re-imagined medical practice, understanding, and embracing disruption.
It will also include improving practice efficiency, securing, and optimizing your referral relationships, engaging, and motivating your people, and managing the risk of sale amongst others.
“In an age of global disruption, the healthcare industry in South Africa is faced with not only addressing the healthcare gap in our society, but the changing face of healthcare delivery, driven by the confluence of consumer demand, advancing technology and thought leadership escalated by COVID-19,” concludes Smit.
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