Are Your Partnerships Adding Value?

Recently we’ve looked at utilizing the standards that make you successful in the OR and to run your practice and implementing different management styles between the OR and your practice.

We have looked at the importance of having clear goals to ensure that you and your staff are aligned. We also discussed the value of having a growth mindset, learning from mistakes, and demonstrating compassion with your staff.

As we continue to focus on the importance of leadership in managing a practice, let’s look at how your practice is supported. Many surgeons have partnerships with hospitals for operating privileges and additional partnerships to support practice needs including financial, staffing, social media, and other experts to offer guidance and advice.

These partnerships should provide support for your short- and long-term goals. Ensuring alignment with your goals requires a consistent assessment of the services provided and the cost of those services. For example, if you have a third party managing your social media, you should ensure that you are provided with a posting schedule with topics that reflect your vision and goals. Many social media companies utilize stock photos for multiple clients so your content may be generic and not actually telling the story of your practice. When challenged to increase engagement, a common response of social medial companies is to add promotions which increases their billables but may have little to no impact on your revenue drivers.

The partners that you select to support your practice should be dedicated to helping you to achieve your goals and this means consistently connecting their services to your goals. Asking for clarity on how the services that you are paying for connect to practice results will ensure that your partners stay focused on supporting you to achieve your goals.

Taking time each month to look at your financials and identify the impact of your expenditures to your revenue drivers will ensure that your partners are working to help you achieve your goals.

If you’d like help in assessing the true value of your partnerships, please contact me at smays@impactpracticeconsultants.com