How to Connect a Communication Strategy to Revenue Drivers

Previously we discussed the importance of practice communication routines including daily interactions and planned meetings. We also examined the significance of a meeting agenda in executing a productive meeting. This week we will look more closely at a key area of the meeting agenda; revenue driving responsibilities.

Yes, ultimately all responsibilities will have an impact on revenue but how you manage those key responsibilities can ensure that your staff is aligned and your practice is moving forward. Consistently connecting your staff’s specific job responsibilities to practice performance helps your staff prioritize their responsibilities and drives accountability.

Your revenue drivers or key performance indicators (KPI’s) may vary based on your specialty. The most common KPI’s are Booking Window, New Patients, Procedures and Payor Mix. To determine your KPI’s consider the components of your practice that drive a successful bottom line. Your KPI’s will connect the staff’s daily responsibilities to your financial results.

Each KPI should have a goal attached to it. For example, if you would like to see 100 new patients each month your staff should schedule 25 each week. To achieve this goal, it is imperative that your booking window is as short as possible so patients can be seen as soon as possible. A goal of 48 hours for your booking window ensures the patient schedule is optimized.

Goals allow your staff to connect and prioritize their daily actions to practice results. This also provides opportunities to celebrate staff achievements, identify opportunities for improvement and drives accountability.

If you are ready to develop practice goals, determine your KPI’s and collaborate with your team for input on goals and a tracking and communication process. Collaboration and consistent communication of practice goals will connect your staff to your results and will keep moving your practice forward.

If you are ready to help more patients and enhance your practice results, we can help you. Contact me at smays@impactpracticeconsultants.com and make 2021 a great year for your practice.