HOW DO YOU TAKE CARE OF PATIENTS and manage a business at the same time?
Up to a point, sure…you can manage both patients and the business with no big issues.
Let's say you go to 50% of your full capacity. You still have time to manage the business and manage your patients. There's not a lot to manage at this scale.
But as you grow, you have less time to manage the business. You have more patients. Plus, as the business gets bigger, it requires better and perhaps more management. More staff!
This is where most offices start running into stress barriers. The growing pains become, after a while, too much. So doctors settle at a comfortable 60% capacity (about.)
This is THE barrier that most offices suffer from. The barrier is not chiropractic or your services. It is managing and dealing with Everything Else.
We have a system to break through this, part of which we call the Fast Flow CEO system. It allows the doctor to operate effectively as a CEO in only a few hours a month -- leaving time for patient care and discovering future opportunities.
We cover this in our Practice MBA program. (Next one is in March, 2025)
One of the components of the Fast Flow CEO system is how to use your practice statistics.
USING KEY PERFORMANCE STATISTICS
Recently, a chiropractic doctor called me and vented about how his staff was missing work. They all had legit excuses (kids mostly). But their performance added up to wasted time and poorer quality patient service. He was frustrated and was considering replacing them. I felt his ire.
However, we looked at the practice numbers, this year to last year, and the recent trends. They showed improvement. This year was better than the prior year with different staff.
The solution was to improve his staff, not replace them. And compliment them for the overall trend!
DISPLAYING YOUR PERFORMANCE STATISTICS IN YOUR CHIROPRACTIC PRACTICE
Performance statistics are vital, but they are not used enough.
Every billing software captures your numbers, depending on your data entry. What is often missed is how the numbers are displayed and then used.
Therein lies the key!
The measurement system we use, which is part of the Fast Flow CEO system, includes the following:
Spreadsheet. You can use Excel or Google spreadsheets to enter your numbers. Take most or all the numbers off of your billing software. Some offices keep new patient data manually.
Key statistics: New patients, paid visits, charges, collections. These are the basics. Others can be included.
Time period. Weekly and monthly. Watching too closely, daily, for example, can make you neurotic.
Time Comparisons. This month to last month, and this month to the same month last year.
Same-month comparisons. Certain ratios are helpful, such as Visits/New Patients or Charges/Collections.
New Patient Tracker. I like to know where the new patients are coming from, especially if that office is spending money on marketing.
Marketing expense. This is useful to track Cost per New Patient. Ultimately, you want to “get more for less!” (This should be a core value!)
Graphs and charts. Every picture tells a story. With the offices we manage, I always look at these first. Statistical charts, or graphs, are powerful tools for visualization and analyzing your numbers. You can spot trends and oddities easily and quickly.
Team member viewing. The team needs to know how the team is doing. Review your numbers with everyone at a monthly team meeting. You can even display a graph or two so they see which direction their clinic is headed.
Numbers represent outcomes. You are not working to improve numbers -- you are working to improve outcomes. Those outcomes are people -- your patients. Never lose sight of this!
You are either moving towards or away from your goal. As the numbers go up, you are getting closer to your mission and your goals.
You and your team are in the driver’s seat. Your numbers are your dashboard.
Stay on your journey, and
Keep moving towards your goals,
Ed
PS. Have a question on setting your measurement system? Since you are Goal Driven subscriber, set up a time to talk and I am happy to give you some tips!
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If your practice-building efforts aren’t taking you to your goals, there are reasons -- many of which are hidden from you.
Find out what they are and how to sail to your next level by getting and implementing my book, The Goal Driven Business.
The Goal Driven Business
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