Take Your Practice Back to Being Profitable
You’re busy. Really busy. Think about your typical day: the minute you walk into your business, someone wants something from you. There’s a reason – you’re really good at what you do, and you work hard all-day-long. This is why it’s troubling that you’re not as profitable as you should be. Yes, the shutdown period took its toll on all of us. But let’s think about before the Coronavirus came to town. You definitely had some “pre-existing” conditions – meaning issues that were affecting your practice profitability.
The reason even with the built-up demand from being closed your practice profitability is not where it should be is this: being busy doesn’t necessarily equal being profitable.
It’s a confusing concept for many accomplished practitioners. Surely if you’re constantly in demand, you’d see the return on your efforts? This isn’t always the case. Instead, many find themselves under financial stress and pressure – in some cases depending on lines of credit to meet their business’ demands.
HOW DOES IT GET TO THIS POINT?
There’s a reason many incredible doctors find themselves in this difficult situation. Many practitioners are caught up in the urgency of dealing with patient needs – often taking precedence over time that could be spent developing a business strategy. As a result, they don’t have time to acquire new patients. The focus is instead spent on external factors: the team, the patients, and their associated distractions.
While the goal is ultimately about the patients and addressing their needs, a practice will only be successful when these expert medical professionals take control of their business and shift their focus from those things they can’t control to those areas they do have the ability to change.
Regardless of age, geographic location, and practice type, practitioners have the power to do things differently. Here’s the key: when you change for the better, your practice changes with you. When you’re intentional with your time and energy, you bring in more revenue and are less stressed about finances, and the frustration and overwhelmed feelings disappear because you’re not out of control anymore.
PRACTICE PROFITABILITY: YOU ARE THE COMMON DENOMINATOR
Everyone has a story, and you’re in charge of your own. You are the common denominator in all your failures, just like you’re the common denominator in all your successes. If you want to keep living the same story, you’ll do just that. If you’re ready to change it, you’ll do that, too. Your practice profitability is a decision. And the decision rests with you.
There is an enormous amount of business available out there, and you have what it takes to pick it up. Never talk yourself out of discovering your true capabilities. You can transform your practice from a business that’s just scraping by to one that thrives. That begins by taking back control of your employees, processes, and focus, and it culminates in taking control of not only your business but your entire life.
Taking control of your practice will start with how you interact with patients. From how your staff interacts with prospective, new, and existing patients over the phone, to their experience in your office, there’s a complete framework that can be applied to your unique practice.
Scheduling Institute has worked with thousands of professionals, each seeking to address a variation of the same challenge: increasing practice profitability and decreasing stress. Ultimately it takes action – turning proven theories into practice within your business. Take a step toward turning your practice around. Sign up to receive a constant feed of timely, relevant, and results-producing advice from the #1 advisor for Doctors who want to keep their independence and gain control of their future. Join Jay Geier, on his brand-new podcast, Private Practice Playbook, designed to provide Doctors with useful information on a monthly basis that will help them grow their practice. Subscribe here today!
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