What's Preventing Your Practice from Growing?

Recently we’ve looked at the value of utilizing a bedside manner with patients and with staff. This week we’ll look at the connection between staff growth and practice growth.

To understand the connection, we must first understand the staff’s perspective. What’s preventing the staff from growing?

The most common reason that we identify for a lack of practice growth is a lack of communication.

Physicians spend their lives focused on continued development of their medical skills so that they can accurately diagnose and facilitate positive outcomes for their patients. At some point they may also study business or accounting to gain an understanding of the financial basics of owning their own practice. But rarely, are physicians taught the importance of leadership in operating a practice and that the key to effective leadership is effective communication.

Many of our clients have held leadership positions throughout their careers, but leading a group of people who are already aligned behind a goal is different than aligning your employees behind practice goals.

Developing a growth focused strategy can be summarized in two steps. Yes, in two steps but both steps require a strong commitment.

Step 1: Identify Your Practice Goals

To identify your goals, determine your key revenue drivers and ask yourself what a successful week looks like in your practice? Is it seeing twenty new patients a week? Is it having a booking window of 48 hours or less? Perhaps it is about payer mix and/or surgery cases and case type. Your practice goals should support your financial goals.

Once you identify your revenue drivers and create your goals you are ready for the next step.

Step 2: Communicate Your Goals to Your Staff

This is frequently the point where new clients express concern about sharing information with their staff. And at this point, I remind them that practice goals are revenue drivers, not your actual financial data.

Goals provide clarity on what success and failure looks like for your staff. Goals allow your staff to understand how their daily responsibilities connect to practice goals and propels individual growth which ultimately drives practice growth. Consistent communication around practice goals and priorities will align your staff and move your practice forward.

So, if you are wondering why your practice isn’t growing, consider what you are doing as the practice leader to move your practice forward.

If you’d like support in growing your practice, please contact me at smays@impactpracticeconsultants.com.