The Struggles of Practice Ownership


We have recently lived through very disturbing and confusing times.  Now, as that seems to be fading away, we are experiencing the fall-out from it that is making it harder than ever to run a stable, productive practice.

Currently, many practices are experiencing difficulties with inflation affecting the cost of everything they need to buy for the practice such as equipment and supplies; staff are job hopping more than usual and demanding higher wages as they too have to deal with inflation; and the patients are protesting the cost of everything right now and some of them are getting more difficult to get back into the practice for their next treatment or service that you offer.

Being short staffed is creating stress and overwhelm on the remaining staff and also you as the practitioner.  A lot of practices have put equipment repairs and renovations on hold for now till things turn around.

What is the Solution?

Before you let the corners of your mouth turn down completely with all that negativity, let’s have a look at what CAN be done about it to put a smile on your face and to put some order and stability into your world at work and at home.

  1. The first step is to decide that something CAN be done about it and that you are able to stand up to it and make it better. If you let yourself go the other way and admit defeat, you are on the slippery slope downward in life.  So don’t go there (it’s not pretty).
  2. A good system is to take some executive time and write a list of exactly what you are struggling with and/or don’t know how to handle. Be thorough.
  3. Then prioritize the list: What MUST be done immediately, and then next after that, and so on.  Then get going and get the list DONE.


When you look at your list, you may see that you now know exactly what to do and you can charge forward and get it done.  However, sometimes you may find it helpful to talk to a friend, a successful colleague, or a practice management consultant as you are likely not a trained practice management expert.  (Brag time:  We have consulted over 1,800 practices successfully through thick and thin economic times and we are available to make your life easier).

Time Targets

Schedule and set time targets for when you want each problem handled and then put in the time and effort required to meet those targets.  That way it doesn’t seem unending or to go on forever. Set up a reward system for you and your staff when the targets are met and the situation handled.

Economizing vs. Marketing 

While some of your attention may go onto economizing, never let that stop you from spending more on marketing your practice than ever.  You do not want to shrink your practice as a solution to financial pressures.  Do better promotion than you have in the past and be cleverer with your marketing dollars for sure, but don’t do less.

Dealing with Negativity

If you have negative people in your practice or in your life, try to avoid them and cut the relationship if you can.  Anyone who brings you down or makes you feel like you can’t do well or succeed is not a true friend.  At this time, we need to surround ourselves with UP people who have positive attitudes and are making their lives go well.

In Conclusion

There is a light at the end of the tunnel.  GO FOR IT!


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