The Elephant in the Room is YOUR SPACE & EQUIPMENT: Why this Practice Update is so Important
There are five areas in your business that we talk about a lot at Scheduling Institute. Jay refers to them as “The Big 5”. If you consistently focus on all five of these areas and develop practice growth strategies around them, you will find the path to reaching your overall practice goals is a lot easier. The areas are Human Capital, Space & Equipment, Marketing, Clinical Duplication and Financial Discipline. (Read more about them here.)
Today we’re going to talk about the easiest of the Big 5 Practice Updates: Space & Equipment
Space & Equipment is your practice’s physical building and all of the inanimate objects inside it. It can literally be the easiest of the Big 5 practice updates to work on – but often times it is something that – like the saying “the elephant in the room” – is somehow overlooked even though it is painfully obvious that it needs to be addressed! Elephants are the largest land mammals on earth, measuring in at up to 13,200 pounds, and 10 feet tall. Their size alone is absolutely startling, which is why that old saying came about in the first place. Something so obvious shouldn’t be invisible. And in the case of Space & Equipment, it isn’t … to your patients that is!
You may not notice the slow deterioration of your practice’s Space & Equipment because you see it every day. Much like you may not notice how tall a child you see every day is growing until a distant neighbor points it out – you may not be noticing that things in your practice are getting worn out or outdated little by little every day. Outdated magazines, old-fashioned curtains, and worn or stained furniture tell your patients that you don’t care about your practice, which translates into not caring about their health! And if you have old pink carpet, we guarantee your patients are noticing! Outdated computers or faulty technology? Yes, they see that too! Especially now when everyone has a heightened awareness of increased sanitation needs due to the pandemic – if your waiting room, restroom, or even the front of your practice looks as though no one is paying attention – that will translate into patients thinking your sterilization procedures may not be up-to-date either!
Don’t let your Space & Equipment stunt your practice’s growth
Space & Equipment updates can seem overwhelming, but they don’t have to be! It’s much harder to change your people or their behaviors than it is to change your wall color. And, in fact, you can almost completely delegate your renovation or office update to another person — a major renovation should be managed by a Team Leader, while smaller updates can be completely handled by an interior decorator.
The physical space of your practice is your vehicle to growth and it has certain capabilities and certain limitations. The appearance of your office, the number of operatories, your location, equipment, and technology are all part of your Space & Equipment. When a part of your business (New Patients, production, retention) is stagnant or declining, there’s a very good chance the capabilities of your current Space & Equipment are part of what’s holding you back and stunting your growth.
Be honest. Do you need a Practice Update?
While every business has Space & Equipment, the bigger question is are you proud of your Space & Equipment? Does it represent you and the quality of your work accurately? If not, then you need to invest in getting it to where it needs to be.
You should always be working to maintain a clean, modern, updated practice with the modern conveniences your patients love — think about providing complimentary WiFi, a beverage bar, and clean, updated furniture that is comfortable for your patients.
In order to stay in top-notch condition, your office needs updating every 5-6 years. And if you’re really looking to grow, you may need to buy a larger office with more capacity. While Space & Equipment investments will always require capital upfront, your initial investment will have a huge return for your practice… And you will be investing in the opportunity to produce more money, get more referrals, and ultimately grow your practice!
So ask yourself… What are you currently doing, and what do you want to do?
Do you want to double your New Patients? You’ll likely need more operatories.
Do you want higher-end, more compliant patients? You’ll need the higher-end office to match. Investing in your Space & Equipment will allow you to make those other changes come to life.
How Scheduling Institute Does Space & Equipment
To allow for in-person events to safely resume, we have temporarily altered our space and purchased additional sanitization and safety equipment to better serve our clients in our Leadership Centers. From socially distanced tables to an electrostatic cleaner…. we have made extensive changes to ensure everyone’s safety. (This we hope is a temporary investment – and that the pandemic is behind us soon!)
In 2011, Jay invested in our current Atlanta Training Center – a 24,000 square foot space that allows us to train our clients and their staff for workshops, events, and the Team Training University!
Recently Jay announced that we’ll be completing a $1 million renovation to the Atlanta Leadership Center in 2020. We will create an impeccably styled lounge for our members to socialize in between workshops and trainings. We’re also adding a wellness area complete with an InBody machine for our members to track their own BMI and other important Health KPIs. Finally, we’re also upgrading all of our A/V equipment, and adding 6,000 square feet of private meeting rooms so we can meet with our clients to plan out their best year(s) ever!
The Scheduling Institute has also heavily invested in Space & Equipment to serve the needs of our team! Our Alpharetta, GA Headquarters is pictured here – Jay purchased this space when the market was down. That Space & Equipment investment has grown astronomically in value since he purchased it. Over the years he has added a workout area and renovated all of the spaces – several times! Jay believes in keeping our workspace fresh and exciting by changing it every few years. Working in a beautiful and up-to-date space keeps the creativity and productivity flowing!
To better serve our west coast clients, Jay invested in a state-of-the-art Leadership Center in Phoenix, AZ. If you could have seen what the space looked like before Jay created the current oasis – you would be blown away! This beautiful space is a great example of making a smart Space & Equipment investment. Jay was able to delegate the complete makeover of this space to one of his Team Leaders – and only personally had to the visit the space a handful of times during the renovation.
Need some more advice on the proper way to invest in your Space & Equipment or any of the other Big 5 areas of your practice update plan? Join Jay Geier, on his brand new podcast, Private Practice Playbook, designed to provide Doctors with timely, relevant, and results-producing information on a monthly basis that will help them grow their practice. Subscribe here today!