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
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
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
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
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
Feeling bored with your practice? Has it gotten into a state of too much routineness and predictableness? Have you given up on reaching any of your dreams for your ideal practice? Or, in the alternative, has the feeling of non-stop overwhelm worked its way into a state of normal operation and you feel hopeless about
Have you ever experienced disappointing results when marketing your practice? Did you expect a better response than you got? Have you ever wondered how other practices have managed to have a huge number of new patients from their marketing? What, you might ask yourself, is the magic formula to improve your marketing strategy? The answer
You can hire the best of candidates to join your staff team – she has the right experience and good enthusiasm and lots of good ideas. She also, from her side of the picture, has high hopes that YOU are going to be a great leader and that you know how to train her so
When someone contacts your office to ask about the price or cost of your services, realize that they are not “shoppers” most of the time. They are not sitting at home dialing practitioners to harass them or their staff. Usually, you have a potential new patient at the other end of the line and it
The following is a quote from an article that appeared on LinkedIn recently, written by Dharmesh Shah, CEO HubSpot: “You try something and it fails. And yes, failing is no fun. But, what’s worse than failing is going sideways for years and years. The worst is being stuck in a quagmire of mediocrity. Things are
Social Media is a proven marketing tool used by big brands to reach their potential publics and thereby achieve their marketing goals. In just the same way, healthcare practitioners need to make their presence felt on the Social Media “scene.” Let’s take Facebook for starters. At first glance, Facebook seems like a big time waster
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