Hopefully, the first thought that you had, in terms of how to improve profitability, was not “increase my fees.” While it is always possible, if you are billing below the provincial fee guide, that you SHOULD increase your fees, this is not necessarily the first thing you should do. In actual fact, one of the
As the manager or owner of a practice, you are the LEADER. The one who sets the bar and the future success of the practice. Right? There are 3 things the team need from you: Direction, Inspiration and Recognition. DIRECTION If your team knows where you are going with the practice, what you want to
We held a Power Practice Conference this past weekend with this awesome speaker, Patrick Valtin. He wowed us with 3 days of valuable, practical data. Here is one of the concepts he put forward. Just as products have a life cycle or shelf life, so do business owners and managers. You can go from the
Is your practice like one of the Stepford Wives? In that movie, there was the idea of the perfect wife and that every wife in town had to fit into that exact mold. Sameness. The problem is that it didn’t work. Why not? Because we are all unique and different in many varied ways. This
As the owners of the business, my husband Bob and I wanted to take this opportunity to give Recognition and show Appreciation to our wonderful team without whom we would be … well … very small and ineffective. So we went online looking for ways that we could celebrate the heart of our company …
How a practice is performing and how to increase its profitability is most efficiently accomplished through the use of statistics. Some people call them “performance metrics” and others may say “practice metric monitors,” but in any case, they are referring to the numbers which measure the productivity of the various areas of the practice. Statistics
Once upon a time, patients or clients rarely got marketed to by other practices. They chose their healthcare providers based on location or referral, and stuck with them unless one or the other moved away or passed on. They were not bombarded with envelopes of coupons in their mail boxes containing fliers for practices, nor
Over 25 years of analyzing more than 5,000 individual practices, I have heard many times that “the reason my numbers are down is because of the RECESSION.” Many times! Even in affluent economic climates! Many practice owners whose stats are down have phoned around to other practitioners in their area to see if they too
Like most healthcare professionals you probably want new patients or clients to knock at your front door, but which front door? There is the physical front door to your office for walk-ins (though usually people call first to make an appointment). And then there is the “virtual” front door … your website. If you do
It’s easy to be lazy and incompetent. Anyone can do that. But those who want to succeed in life find that it is done by learning and working at it. One of the big traps that can keep one from succeeding is making excuses and justifying why one is not successful or has failed at
While most of the practice owners we meet with enjoy the profession they chose in varying degrees from “like it” up to “passionate about it”, almost every one of them would give their eye teeth for more time away from the practice (without decreasing their take home pay). This can range from “I would like
In the current marketplace in Canada, there is a growing sense of change and uncertainty. Therefore, as the owner or manager of a business, more skill is required than ever before to maintain an even keel and efficient course to optimum productivity from your team players. You must give them a sense of security while
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