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What is the most essential component of your chiropractic or healthcare practice?
A practice has many moving parts. Some of them "squeak" more than others. What should you work on first?
Do you need to fix your patient accounts, upgrade software, improve the front desk, work on your patient retention or that of your associates, and what about that new therapy machine? If we just had more new patients, things would be better. So, do I hire an agency, or what about a patient appreciation day? And what about my kid's baseball game or our family vacation?
To sort this out, we can begin by categorizing your practice into 5 engines. These are the components that drive your practice forward -- or should. (You can read more about the 5 engines in my book, the Goal Driven Business).
The 5 Engines of Practice Development
Service and Outcomes.
Marketing.
Leadership.
Management.
Integrity.
Which component or practice engine is most important?
They all are, right? Yes, but it really depends on what stage of development your practice is in.
If it is new or seriously declining, marketing and leadership engines need to kick into high gear. If you are a mature practice just cruising comfortably, you're fine. I'd keep doing what you are doing.
But, if you are growing or want to grow, if you are overly stressed or on the practice roller coaster, or if you are looking at selling your practice in the next several years, the answer may surprise you.
It's management!
Why Management Matters
A well-organized and managed practice allows all the other engines to work.
A thriving practice needs excellent clinical service, consistent marketing, leadership that provides direction and inspiration, and actions that align with values and goals. But to achieve this, the practice needs to be organized and this is accomplished through management.
Without effective management, disorganization can create distractions that affect the quality and quantity of your services – and your income.
Who Does the Managing?
You could. Of course, you would have to see fewer patients, spend less time with your doctors, and less time teaching and leading the staff and planning for the future. You would also have to tend to all the marketing details.
But this would not make good economic sense for you to take on all the admin duties. Your practice leadership is essential, as is your focus on quantity and quality of care.
Over the years, the most successful practices I have seen have had someone behind the scenes organizing things. If you don't have someone in the role of admin assistant, office manager, or practice manager, I recommend you do so. It is a part-time job that helps to coordinate daily and weekly admin procedures and tasks.
This gives you more time as the clinic director to focus on leadership, marketing, and improving the quality and quantity of your services. And if you have the drive to do so, your income will increase.
But how do you do this and avoid the barriers that get in the way of delegating management duties?
Practice Management, Leadership, and Marketing Skills
Management, leadership, and marketing skills are like the clinical skills you learned in college. Learning these skills can help you and your team create a smoother practice that has no limits to growth and profitability. You and your manager will learn these skills in our upcoming Practice MBA program.
To learn more about this new and powerful program, sign up here for inside information. If you have already signed up, stay tuned for a special presentation I will post just for you.
But whether you participate in our 11-week training program, please consider delegating as many admin tasks as possible so you can do what you do best --- by delegating all the rest!
Seize the Future!
Ed
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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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