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April 26, 2016

Is it Time for a Practice Makeover?

Key Questions to Ask to Determine Your Readiness

There comes a time in virtually every business when things begin to feel stagnant. Arguably more disappointing, you’ve had goals for your practice you anticipated reaching for the past couple of years, yet consistently fall short of.  When it comes to your practice, you can’t afford to be or stay stuck in a rut. Your future success depends on it. Where are you going wrong?

We’ve all heard the saying, “If you do what you’ve always done, you’ll get what you’ve always gotten.” Being creatures of habit certainly has its advantages, but within the walls of your practice, if those habits are failing to produce the results you’ve been expecting, it may be time for an office makeover. As a team, reevaluate your current processes and procedures and establish a new strategy for patient relationship management. If you feel you have been going around in circles trying to figure out exactly why you are stuck and how to get unstuck, here are some good questions to ask:

  • Are you where you want to be financially?
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  • Do you have a solid retirement plan?
  • Is your patient base growing consistently, declining, or has it plateaued?
  • Is there good chemistry amongst your staff members? Do you each balance each other out? Is every member contributing and meeting expectations?
  • Is your team efficient and consistently coming up with ideas for improvement?
  • Can you communicate openly and honestly about issues and concerns that arise without criticism or feeling defensive?
  • Do you have a written and visible practice mission statement, is every team member aware of it, and what are you doing to reflect it?
  • Are you happy with the services you offer or would you like to implement more current technologies and procedures to boost business and stay relevant?
  • How is your patient retention and are you acquiring new patients each month?
  • Is your office big enough and in a desirable location, or is it time to look at moving?
  • Are you struggling with getting patients to pay on time or at all? Is it time to look at automated revenue management?
  • If you are close to retiring, are you happy with the value of your practice as you consider selling it?
  • What changes would you like to see or do you think would help bring your practice to the next level or be more competitive?
  • Are you up-to-date with current patient engagement technology in your industry?
  • What adjustments can you make to your budget to save or be more cost-efficient?

As you look over this list of suggested questions to ask, identify where your strengths and weaknesses are. At your weekly staff meeting, decide as a team which areas of focus will help you achieve your mission statement and improve overall patient satisfaction, which is the key to your success. Brainstorm any other questions that could be asked, perhaps more specifically related to your practice, in order to get to the heart of the reason business isn’t progressing as you would like.

Stay tuned next week as we make some suggestions on how to move forward after you have identified the areas you’d like to improve on…

Tagged Topics: Tips & Best Practices | Tip Tuesday | Patient Engagement | New Patient Acquisition |

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