NO TEAM TRAINING & ENGAGEMENT
Not having a team that’s properly trained, engaged and energized to help your practice succeed isn’t just an obstacle, it’s a recipe for disaster. No matter how good of a job you do in the exam room, if reaching the office, scheduling appointments or inquiring about other issues is a hassle it simply won’t matter. That’s why The Practice Growth Institute puts such an emphasis on training doctors, associates and staff to work together toward a common goal from which everyone benefits. And we don’t just train once, we establish an ongoing training program that ensures standards remain high and problems remain low. New patients keep joining, existing patients keep referring and the growth formula stays firmly in place.
NO PATIENT-CENTRIC CULTURE
As a practitioner whose name is on the door, it’s easy to think the practice is all about you. You can set hours that work best for you, open on the days you’d prefer and build the entire operation around your own convenience. What you can’t do is expect to succeed that way. Since 1997, Practice Growth Institute has observed that practices that reach their goals have one thing universally in common—they put their patients first. Not just their health, but their convenience as well. We call this creating a patient-centric culture, and it means shifting your own mindset as well as your team’s so that everyone understands that what’s better for patients IS better for the practice, even if it means making some sacrifices up front. You might miss a tee time or two, but once your practice is thriving, your team is smiling and your net worth is climbing, you’re sure not to mind.
NO FINANCIAL MASTERY
Practices that haven’t mastered their finances are faced with a constant struggle, with stress compounding an emotional toll on top of the financial one. From your payroll to your lease/mortgage to how much the housekeepers are charging, it’s important to analyze every expense at regular intervals to make sure you’re spending wisely and that your money is working for you instead of the other way around. That’s how you turn uncontrollables into controllables and build both revenues and net worth over time.
NO NEW PATIENT MARKETING
Even the very best practices, the ones with patients running home to refer friends & family because of the amazing experience they just had, still need at least some form of marketing. If you’re not at that level yet, chances are you need even more. And if you’re not marketing at all, you’re definitely missing out. Marketing is simply your efforts to tell your community who you are, what you do and how proud you are about how you do it. It’s a signal to the town you live in that you believe in your practice, which gives them a reason to as well. Marketing needn’t be prohibitively expensive, but it does need to be part of your overall planning if you hope to succeed.
NO RECRUITMENT & RETENTION STRATEGY
As you grow, how will you attract new members to fill out your growing team? When a team member leaves, do you have a plan in place to find a replacement? And speaking of that team, do you have a retention strategy implemented to reduce the chances they’ll want to leave in the first place? Your investment in “human capital,” meaning the people you work beside day after day, is one of the most critical choices you’ll make. Nurture them, and you’ll find success in reach and stress greatly reduced. Neglect them, and you’ll hamstring your growth before it’s truly begun.
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At The Practice Growth Institute, our mission is to help you become a thriving, profitable practice. The process starts with a personalized consultation, and kicking things off is as easy as giving us 15 minutes and a bit of information.