Your Most Valuable Practice Asset

Some professionals consider their professional licence their most valuable asset.  Others think that having a location in a prime area is the biggest asset.  Many would answer that their state of the art equipment ranks highest.  There is a saying that your future earning power is your most valuable asset (insurance companies selling you on disability insurance).  The number of active patients could be considered by some to be your main asset.  An asset could also be considered to be how much net worth you have acquired.

None of those assets should be shrugged off as unimportant … in fact, each one is quite valuable.  But what is the missing ingredient to make it all come together?

THE Most Valuable Asset

Since it would be impossible to pull everything together and deliver in any quantity at all, your staff should be considered to be your most valuable asset!

It is a rare healthcare professional who is without any staff.  It would limit the amount of production of a practice.  And yes, it’s true that being overstaffed can actually limit production by getting in each other’s way, and the production per capita may decrease.  But you can’t have a practice of any great size that delivers awesome service to your patients unless you have a team to assist you.

Treating Them Right!

You hired each person for your team because you believed they would be an asset to your practice.  From there, you trained them (hopefully), and they help you deliver exceptional service to your patients.

This ideal scene can deteriorate, however, if you don’t treat your staff as the valuable asset they are.  They need nurturing and care too, just like your patients.  Showing consistent interest in them, finding ways to acknowledge their production (such as bonuses of various types), giving them on-going educational opportunities, holding interactive and informative staff meetings, doing periodic reviews one-on-one to help them improve and to get feedback on aspects of the practice they too feel could be fine-tuned.

Leadership Skills

As the CEO of your practice, your leadership skills are also one of your strongest assets because staff require a good leader who has a vision and a plan on how to get there, and keeps the staff moving in that direction.

Keep it fun and interesting!



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